261—23.8 (15) Requirements for the public facilities set-aside fund. PFSA funds are reserved for infrastructure projects in direct support of economic development activities that shall create or retain jobs.
	 23.8(1) Restrictions on applicants.
	  a.   	 The maximum grant award for individual applications is $500,000.
	  b.   	 At least 51 percent of the permanent jobs created or retained by the proposed project shall be taken by or made available through first consideration activities to persons from low- and moderate-income families.
	  c.   	 Projects must maintain a minimum ratio of one permanent job created or retained for every $10,000 in CDBG funds awarded.
	  d.   	 The applicant local government must contribute at least 50 percent of the total amount of funds requested.
	  e.   	 Applications must provide evidence that the PFSA funds requested are necessary to make the proposed project feasible and that the business requesting assistance can continue as a going concern in the foreseeable future if assistance is provided.
	  f.   	 Jobs created as a result of other jobs being displaced elsewhere in the state shall not be considered to be new jobs created.
	  g.   	 No significant negative land use or environmental impacts shall occur as a result of the project.
	  h.   	 Applications shall include a business assessment plan, projecting for each identified business the number of jobs to be created or retained as a result of the public improvement proposed for assistance.
	 23.8(2) Application procedure. Application forms and instructions shall be available upon request from IDED, Business Development Division, 200 East Grand Avenue, Des Moines, Iowa 50309; telephone (515)242-4819. An original and one copy of completed applications with required attachments shall be submitted to the same address. IDED shall accept PFSA applications at any time and shall review applications on a continuous basis. IDED shall take action on submitted applications within 60 days of receipt. Action may include funding the application for all or part of the requested amount, denying the applicant’s request for funding or requesting additional information from the applicant for consideration before a final decision is made.
	 23.8(3) Review criteria. IDED shall review applications and make funding decisions based on the following criteria:
	  1. 	 Impact of the project on the community.
	  2. 	 Number of jobs created or retained per funds requested.
	  3. 	 Degree to which PFSA funding would be leveraged by private investment.
	  4. 	 Degree of demonstrated need for the assistance.
IDED may conduct site evaluations of proposed projects.