CHAPTER 75
OPPORTUNITIES AND THREATS PROGRAM
261—75.1(83GA,SF344) Purpose. The purpose of the opportunities and threats program is to fund projects that present a unique opportunity for economic development in the state of Iowa or projects that address a situation constituting a threat to continued economic prosperity in Iowa.
[ARC 7970B, IAB 7/15/09, effective 7/1/09]
261—75.2(83GA,SF344) Administrative procedures. The opportunities and threats program is subject to the requirements of the department’s rules located in 261—Part VII, additional application requirements and procedures, and 261—Part VIII, legal and compliance. Part VII and Part VIII include standard definitions, standard program requirements, application review and approval procedures, contracting, contract compliance and job counting, and annual reporting requirements.
[ARC 7970B, IAB 7/15/09, effective 7/1/09]
261—75.3(83GA,SF344) Eligible applicants. An eligible applicant may be a business, an individual, a development corporation, a nonprofit organization, a council of government as defined in Iowa Code section 28H.1, or a political subdivision in the state of Iowa.
[ARC 7970B, IAB 7/15/09, effective 7/1/09]
261—75.4(83GA,SF344) Review criteria. When applications are reviewed, the following shall apply:
	75.4(1) A project shall not be eligible for financial assistance under another state program. If a project is eligible for assistance under another state program, then the project shall not be eligible for funding under this program.
	75.4(2) The project must represent a unique economic development opportunity or involve a unique threat to economic development in the state of Iowa.
	75.4(3) An applicant must demonstrate that any financial assistance received under this program leverages additional public or private funds.
	75.4(4) An applicant must demonstrate that the project will lead to a positive economic impact for the state of Iowa.
	75.4(5) An applicant must demonstrate financial need for assistance. Financial need may be demonstrated with financial statements, narrative statements outlining the financial need, and any other documentation that demonstrates financial need or that is requested by the department.
[ARC 7970B, IAB 7/15/09, effective 7/1/09]
261—75.5(83GA,SF344) Award criteria. An award made under this program shall not exceed 50 percent of the total project cost. The minimum award amount is $25,000. The maximum award amount is $250,000 per fiscal year. The board may award an amount in excess of $250,000 if that award is made over multiple fiscal years and the amount committed for each fiscal year within the multiyear award does not exceed $250,000.
[ARC 7970B, IAB 7/15/09, effective 7/1/09]
These rules are intended to implement 2009 Iowa Acts, Senate File 344, section 4.
[Filed Emergency ARC 7970B, IAB 7/15/09, effective 7/1/09]