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House Journal: Page 1667: Monday, April 28, 1997

26   funded through this chapter, and shall establish
27   priorities for the use of the funds.  However, funds
28   received by a community college pursuant to section
29   260A.1 shall not be expended to add a full-time
30   equivalent position or otherwise increase staffing.
31     Sec. 27.  NEW SECTION.  260A.4  FUTURE REPEAL.
32     This chapter is repealed effective July 1, 2001.
33                                       DIVISION IV
34               MISCELLANEOUS STATUTORY CHANGES
35     Sec. 28.  NEW SECTION.  7E.5A  BUILDINGS AND
36   INFRASTRUCTURE - MAINTENANCE FUNDING.
37     1.  For each new vertical infrastructure project
38   undertaken on or after July 1, 1997, the department in
39   control of the vertical infrastructure shall identify
40   and recommend to the general assembly funding
41   sufficient to meet the projected maintenance, repair,
42   and replacement needs of the vertical infrastructure.
43     2.  As used in this section, "vertical
44   infrastructure" means the same as defined in section
45   8.57, subsection 5, paragraph "c".
46     Sec. 29.  NEW SECTION.  15E.176  MAIN STREET
47   INVESTMENTS LOAN PROGRAM.
48     The department shall adopt rules to implement a
49   main street investments loan program to increase the
50   availability of lower cost funds to stimulate building

Page  17

 1   restorations or rehabilitations of historic buildings
 2   within the central business district of a city which
 3   is a certified local government, or in the Iowa main
 4   street program or the rural main street program.  The
 5   rules shall include the following conditions:
 6     1.  Investment loans shall be limited to projects
 7   for a building restoration or rehabilitation located
 8   in the central business district whose boundaries are
 9   the same as the main street or rural main street or
10   central business district of a city which is a
11   certified local government project area.
12     2.  Eligible borrowers are limited to the property
13   owner, contract purchaser of record, or long-term
14   lessee.
15     3.  Loan applications under this program shall be
16   for the restoration or rehabilitation of buildings
17   which are eligible or nominated or listed on the
18   national register of historic places.  Public
19   buildings are excluded.
20     4.  The maximum loan amount under the main street
21   investments loan program is fifty thousand dollars per
22   project.
23     Sec. 30.  NEW SECTION.  15.177  APPLICATION
24   PROCESS.
25     Applicants shall be certified as eligible for

Iowa General Assembly

Index: House Journal (77th General Assembly: Session 1)

© 1997 Cornell College and League of Women Voters of Iowa

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