1. The traditional infrastructure category contains projects that include, but are not limited to, sewer, water, roads, bridges, airports, and other projects described in section 384.24, subsection 3.
2. Any Iowa city, county, rural water district created under chapter 357A, or nonprofit corporation created for the purpose of operating a rural water system is eligible to apply for loans or grants from this category. Along with the application, the applicant shall submit the following:
a. A needs assessment study.
b. A capital improvement program.
c. Evidence of matching contribution of at least twenty- five percent of the total project cost.
3. Applications must be seeking funds to improve the physical assets of the traditional infrastructure of the applicant in aid of development.
4. The department shall rank the applicants according to financial need, cost-benefit of the project, percent of match, impact, including an increase in fire or public safety because of completion of the project, and ability to administer the project.
5. The interest rate for a loan, if assessed, may range from zero to five percent. The department may charge applicants an administration fee, not to exceed one percent of the principal amount of the loan or grant, to be paid as a lump sum.
6. The department may coordinate with the department of natural resources to assist applicants receiving federal or other state aid for waste water treatment facilities. However, the department shall not allocate more than fifty percent of the moneys available to this category for this purpose.
88 Acts, ch 1217, § 4; 89 Acts, ch 301, § 4, 5; 90 Acts, ch 1262, §25; 90 Acts, ch 1269, §1; 91 Acts, ch 23, §6
Referred to in § 15.288, 16.107, 16.141
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