Text: HSB00695 Text: HSB00697 Text: HSB00600 - HSB00699 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. NEW SECTION. 15.291 DEFINITIONS.
1 2 As used in this part, unless the context otherwise
1 3 requires:
1 4 1. "Brownfield site" means an abandoned, idled, or
1 5 underutilized industrial or commercial facility where
1 6 expansion or redevelopment is complicated by real or perceived
1 7 environmental contamination. A brownfield site includes
1 8 property contiguous with the property on which the individual
1 9 or commercial facility is located.
1 10 2. "Sponsorship" means an agreement between a city or
1 11 county and an applicant for assistance under the brownfield
1 12 redevelopment program where the city or county agrees to offer
1 13 assistance or guidance to the applicant.
1 14 Sec. 2. NEW SECTION. 15.292 BROWNFIELD REDEVELOPMENT
1 15 PROGRAM.
1 16 1. The department shall establish and administer a
1 17 brownfield redevelopment program for purposes of providing
1 18 financial and technical assistance for the acquisition,
1 19 remediation, or redevelopment of brownfield sites. Financial
1 20 assistance under the program shall be provided from the
1 21 brownfield redevelopment fund created in section 15.293.
1 22 Technical assistance under the program shall be in the form of
1 23 providing an applicant with assistance in identifying other
1 24 alternative forms of assistance for which the applicant may be
1 25 eligible.
1 26 2. A person owning a site may apply for assistance under
1 27 the program if the site for which assistance is sought meets
1 28 the definition of a brownfield site and the applicant has
1 29 secured sponsorship prior to applying. Sponsorship is not
1 30 required if the applicant is a city or county.
1 31 3. a. A person who is not an owner of a site may apply
1 32 for financial assistance under the program if the site for
1 33 which financial assistance is sought meets the definition of a
1 34 brownfield site and the applicant has secured sponsorship
1 35 prior to applying. Sponsorship is not required if the
2 1 applicant is a city or county.
2 2 b. Prior to applying for financial assistance under this
2 3 subsection, an applicant shall enter into an agreement with
2 4 the owner of the brownfield site for which financial
2 5 assistance is sought. The agreement shall be submitted with
2 6 an application for financial assistance and shall include, at
2 7 a minimum, the following:
2 8 (1) An agreement regarding the estimated total cost for
2 9 remediating the brownfield site.
2 10 (2) An agreement that the owner shall transfer title of
2 11 the property to the applicant upon completion of the
2 12 remediation of the property.
2 13 (3) An agreement that, upon the subsequent sale of the
2 14 property by the applicant, the original owner shall receive
2 15 not more than seventy-five percent of the estimated total cost
2 16 of remediation.
2 17 c. An applicant shall not receive financial assistance of
2 18 more than twenty-five percent of the agreed upon estimated
2 19 total cost of remediation.
2 20 d. Upon the subsequent sale of the property by the
2 21 applicant to a person other than the original owner, the
2 22 applicant shall repay the department for financial assistance
2 23 received by the applicant. The repayment shall be in an
2 24 amount equal to the sales price less the amount paid to the
2 25 original owner pursuant to the agreement between the applicant
2 26 and the original owner. The repayment amount shall not exceed
2 27 the amount of financial assistance received by the applicant.
2 28 4. An application for assistance under the program shall
2 29 include any information required by the department including,
2 30 but not limited to, all of the following:
2 31 a. A business plan which includes a remediation plan.
2 32 b. A budget for remediating or redeveloping the site.
2 33 c. A statement of purpose describing the intended use of
2 34 and proposed repayment schedule for any financial assistance
2 35 received by the applicant.
3 1 d. Evidence of sponsorship.
3 2 5. In reviewing an application for financial assistance,
3 3 the department and the brownfield redevelopment advisory
3 4 council established in section 15.294 shall consider all of
3 5 the following:
3 6 a. Whether the brownfield site meets the definition of a
3 7 brownfield site.
3 8 b. Whether other alternative forms of assistance exist for
3 9 which the applicant may be eligible.
3 10 6. The board may approve, deny, or defer each application
3 11 for financial assistance from the brownfield redevelopment
3 12 fund created in section 15.293.
3 13 Sec. 3. NEW SECTION. 15.293 BROWNFIELD REDEVELOPMENT
3 14 FUND.
3 15 1. A brownfield redevelopment fund is created in the state
3 16 treasury under the control of the department and consisting of
3 17 any moneys appropriated by the general assembly and any other
3 18 moneys available to and obtained or accepted by the department
3 19 for placement in the fund.
3 20 2. Payments of interest, repayments of moneys loaned
3 21 pursuant to this part, and recaptures of loans shall be
3 22 deposited in the fund.
3 23 3. The fund shall be used to provide grants, loans,
3 24 forgivable loans, loan guarantees, and other forms of
3 25 assistance under the brownfield redevelopment program
3 26 established in section 15.292.
3 27 4. Moneys in the fund are not subject to section 8.33.
3 28 Notwithstanding section 12C.7, interest or earnings on moneys
3 29 in the fund shall be credited to the fund.
3 30 Sec. 4. NEW SECTION. 15.294 BROWNFIELD REDEVELOPMENT
3 31 ADVISORY COUNCIL.
3 32 1. The department shall establish a brownfield
3 33 redevelopment advisory council consisting of five members.
3 34 The advisory council shall be composed of all of the
3 35 following:
4 1 a. The director of the department of economic development,
4 2 or the director's designee.
4 3 b. The director of the department of natural resources, or
4 4 the director's designee.
4 5 c. The director of transportation, or the director's
4 6 designee.
4 7 d. One person selected by the board of directors of the
4 8 Iowa league of cities.
4 9 e. One member of the Iowa economic development board
4 10 selected by the board.
4 11 2. The director of the department of economic development,
4 12 or the director's designee, shall serve as the chairperson of
4 13 the advisory council.
4 14 3. The advisory council shall review each application
4 15 received by the department of economic development for
4 16 assistance under the brownfield redevelopment program and make
4 17 recommendations to the department regarding all of the
4 18 following:
4 19 a. The completeness of the application.
4 20 b. Suggestions for alternative forms of assistance for
4 21 which the applicant may be eligible. The alternative forms of
4 22 assistance may include assistance programs available through
4 23 other departments.
4 24 c. Whether the applicant should receive financial
4 25 assistance from the brownfield redevelopment fund created in
4 26 section 15.293.
4 27 Sec. 5. NEW SECTION. 15.295 RULES.
4 28 The department, in consultation with the department of
4 29 natural resources, shall adopt rules pursuant to chapter 17A
4 30 as necessary to administer this part.
4 31 Sec. 6. RULES. The state department of transportation
4 32 shall amend existing administrative rules pursuant to chapter
4 33 17A for local development projects under the revitalize Iowa's
4 34 sound economy fund to include a rating factor for remediation
4 35 or redevelopment of a brownfield site.
5 1 EXPLANATION
5 2 This bill creates a brownfield redevelopment program and
5 3 fund for purposes of providing financial and technical
5 4 assistance for the acquisition, remediation, or redevelopment
5 5 of brownfield sites. The bill provides that brownfield sites
5 6 are defined as an abandoned, idled, or underutilized
5 7 industrial or commercial facility where expansion or
5 8 redevelopment is complicated by real or perceived
5 9 environmental contamination and includes property contiguous
5 10 with the property on which the industrial or commercial
5 11 facility is located. The bill also provides for the
5 12 establishment of a brownfield redevelopment advisory council.
5 13 The bill provides that the department of economic
5 14 development shall establish and administer the brownfield
5 15 redevelopment program. The bill provides that a person owning
5 16 a site may apply for assistance if the site for which
5 17 assistance is sought meets the definition of a brownfield site
5 18 and the applicant has secured sponsorship prior to applying.
5 19 The bill provides that sponsorship is defined as an agreement
5 20 between a city or county and an applicant for assistance under
5 21 the brownfield redevelopment program where the city or county
5 22 agrees to offer assistance or guidance to the applicant. The
5 23 bill provides that, in reviewing applications for financial
5 24 assistance, the department shall consider whether the
5 25 brownfield site meets the definition of a brownfield site and
5 26 whether alternative forms of assistance exist. The bill
5 27 provides that the Iowa economic development board may approve,
5 28 deny, or defer each application for financial assistance.
5 29 The bill provides that a person who is not an owner of a
5 30 site may apply for financial assistance under the program if
5 31 the site for which financial assistance is sought meets the
5 32 definition of a brownfield site and the applicant has secured
5 33 sponsorship prior to applying. The bill provides that an
5 34 applicant shall enter into an agreement with the owner of the
5 35 brownfield site for which financial assistance is sought which
6 1 shall include, at a minimum, an agreement regarding the
6 2 estimated total cost for remediating the brownfield site, an
6 3 agreement that the owner shall transfer title of the property
6 4 to the applicant upon completion of the remediation of the
6 5 property, and an agreement that, upon the sale of the property
6 6 by the applicant, the original owner shall receive not more
6 7 than 75 percent of the estimated total cost for remediation.
6 8 The bill provides that an applicant shall not receive
6 9 financial assistance of more than 25 percent of the agreed
6 10 upon estimated total cost of remediation. The bill provides
6 11 that, upon the subsequent sale of the property by the
6 12 applicant, the applicant shall repay the department for
6 13 financial assistance received by the applicant. The repayment
6 14 shall be in an amount equal to the sales price less the amount
6 15 paid to the original owner pursuant to the agreement between
6 16 the applicant and the original owner. The bill provides that
6 17 the repayment amount shall not exceed the amount of financial
6 18 assistance received by the applicant.
6 19 The bill provides for the creation of a brownfield
6 20 redevelopment fund from which awards for financial assistance
6 21 under the brownfield redevelopment program may be given.
6 22 The bill provides that the department of economic
6 23 development shall establish a brownfield redevelopment
6 24 advisory council consisting of five members. The bill
6 25 provides that the members shall include the director of the
6 26 department of economic development, the director of the
6 27 department of natural resources, the director of
6 28 transportation, one person selected by the board of directors
6 29 of the Iowa league of cities, and one member of the Iowa
6 30 economic development board selected by the board. The bill
6 31 provides that the advisory council shall review each
6 32 brownfield redevelopment program application and provide
6 33 recommendations to the department of economic development
6 34 regarding financial and technical assistance.
6 35 The bill provides that the state department of
7 1 transportation shall amend existing administrative rules for
7 2 local development projects under the revitalize Iowa's sound
7 3 economy fund to include a rating factor for remediation or
7 4 redevelopment of a brownfield site.
7 5 LSB 6537HC 78
7 6 tm/as/5
Text: HSB00695 Text: HSB00697 Text: HSB00600 - HSB00699 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
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