Text: HF00249                           Text: HF00251
Text: HF00200 - HF00299                 Text: HF Index
Bills and Amendments: General Index     Bill History: General Index



House File 250

Partial Bill History

Bill Text

PAG LIN
  1  1    Section 1.  NEW SECTION.  15E.221  MAIN STREET INVESTMENTS
  1  2 LOAN PROGRAM.
  1  3    The department shall adopt rules to establish a main street
  1  4 investments loan program to increase the availability of lower
  1  5 cost funds to stimulate building restorations or
  1  6 rehabilitations of historic buildings within the central
  1  7 business district of a city which is approved as a certified
  1  8 local government pursuant to section 303.16.  The rules shall
  1  9 include the following conditions:
  1 10    1.  Investment loans shall be limited to projects for a
  1 11 building restoration or rehabilitation located in the central
  1 12 business district whose boundaries are the same as the main
  1 13 street or rural main street or central business district of a
  1 14 city which is a certified local government project area.
  1 15    2.  Eligible borrowers are limited to the property owner,
  1 16 contract purchaser of record, or long-term lessee.
  1 17    3.  Loan applications under this program shall be for the
  1 18 restoration or rehabilitation of buildings which are eligible
  1 19 or nominated or listed on the national register of historic
  1 20 places.  Public buildings are excluded.
  1 21    4.  The maximum loan amount under the main street
  1 22 investments loan program is fifty thousand dollars per
  1 23 project.
  1 24    Sec. 2.  NEW SECTION.  15E.222  APPLICATION PROCESS.
  1 25    Applicants shall be approved as a certified local
  1 26 government by the department of cultural affairs under the
  1 27 provisions of section 303.16 prior to submitting applications
  1 28 to the department of economic development for loans under the
  1 29 main street investments loan program.  The department of
  1 30 economic development shall adopt rules pursuant to chapter
  1 31 17A, in consultation with the department of cultural affairs,
  1 32 to require applicants to do the following:
  1 33    1.  Show evidence of preliminary design assistance.
  1 34    2.  Show evidence of preliminary design review approval
  1 35 from the local design review committee.
  2  1    3.  Submit project plans and specifications prepared by a
  2  2 design professional with historic preservation experience.
  2  3    Sec. 3.  APPROPRIATION.  There is appropriated from the
  2  4 rebuild Iowa infrastructure fund to the department of economic
  2  5 development for the fiscal year beginning July 1, 2001, and
  2  6 ending June 30, 2002, the following amount, or so much thereof
  2  7 as is necessary, to be used for the purpose designated:
  2  8    For the main street investments loan program established in
  2  9 section 15E.221:  
  2 10 .................................................. $    500,000
  2 11    Notwithstanding section 8.33, the unencumbered or
  2 12 unobligated moneys remaining on June 30 of the fiscal year
  2 13 from the moneys appropriated in this section may be expended
  2 14 during the following fiscal year for the same purpose.  
  2 15                           EXPLANATION
  2 16    This bill establishes a main street investments loan
  2 17 program in the department of economic development to provide
  2 18 low-cost loans for the restoration of historic buildings
  2 19 within the central business districts of cities.  Loans are
  2 20 limited to property owners, contract purchasers, or long-term
  2 21 lessees.  The department shall not loan more than $50,000 per
  2 22 project.
  2 23    To be eligible for the loan, applicants must be a certified
  2 24 local government and submit to the department project plans
  2 25 prepared by a professional with historic preservation
  2 26 experience.
  2 27    The bill appropriates $500,000 to the department of
  2 28 economic development for the 2001-2002 fiscal year for the
  2 29 loan program.  
  2 30 LSB 1678YH 79
  2 31 tm/pj/5
     

Text: HF00249                           Text: HF00251
Text: HF00200 - HF00299                 Text: HF Index
Bills and Amendments: General Index     Bill History: General Index

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