261—48.9(15) Housing project minimum requirements. To receive disaster recovery housing tax incentives pursuant to the program, a proposed disaster recovery housing project shall meet all of the following requirements:
	48.9(1) The project includes at least one of the following:
	a. 	Four or more single-family dwelling units, except for a project located in a small city, then two or more single-family dwelling units.
	b. 	One or more multiple dwelling unit buildings each containing three or more individual dwelling units.
	c. 	Two or more dwelling units located in the upper story of an existing multi-use building.
	48.9(2) The project consists of any of the following:
	a. 	Rehabilitation, repair, or redevelopment at a brownfield site or grayfield site that results in new dwelling units. Redevelopment at a brownfield site or grayfield site includes construction of new buildings.
	b. 	The rehabilitation, repair, or redevelopment of dilapidated dwelling units.
	c. 	The rehabilitation, repair, or redevelopment of dwelling units located in the upper story of an existing multi-use building.
	d. 	For a project located in a small city that meets the minimum housing project requirements under this subrule, development at a greenfield site.
	e. 	For a disaster recovery housing project, development at a greenfield site.
	48.9(3) The average dwelling unit cost does not exceed the applicable maximum amount established by the board pursuant to rule 261—48.4(15).
	48.9(4) The dwelling units, when completed and made available for occupancy, meet the U.S. Department of Housing and Urban Development’s housing quality standards and all applicable local safety standards.
	48.9(5) The project is not located in a 100-year floodplain.
[ARC 4724C, IAB 10/23/19, effective 10/3/19; ARC 6467C, IAB 8/24/22, effective 9/28/22]