261—175.3 (15) Review and approval of applications.
	 175.3(1) Staff review. Applications received by the department will be reviewed by program staff to ensure that documentation of minimum program eligibility requirements has been submitted by the applicant. Complete applications will be forwarded to the appropriate decision maker for action.
	 175.3(2) Negotiations. Department staff may negotiate with the applicant concerning dollar amounts, terms, collateral requirements, conditions of award, or any other elements of the project. The board or director may offer an award in a lesser amount or that is structured in a manner different from that requested. Meeting minimum eligibility requirements does not guarantee that assistance will be offered or provided in the manner sought by the applicant.
	 175.3(3) Approval procedures. Application approval procedures shall comply with statutory requirements for the program or funding source and applicable program rules. The board shall approve all projects or activities funded through IVF (2005), CEBA projects, large HQJC projects (over 50 jobs and a $10 million investment), and brownfield projects. The director shall approve all other projects or activities. The following paragraphs describe the review and approval processes, by funding source and program.
	  a.   	 Award approval procedures—IVF (2005). The approval process for projects that are funded with IVF (2005) moneys is as follows:

Funding Source: IVF (2005)	Role of Advisory Group	Final Decision Maker	
CEBA:	Small business gap financing component	Due Diligence Committee recommendation	Iowa Economic Development Board	
 	New business opportunities and new product development components	Due Diligence Committee recommendation	Iowa Economic Development Board	
 	Venture project component	Due Diligence Committee recommendation	Iowa Economic Development Board	
 	Modernization project component	Due Diligence Committee recommendation	Iowa Economic Development Board	
 	Case management and entrepreneurial assistance	Due Diligence Committee recommendation	Iowa Economic Development Board	
VAAPFAP	 	APAC recommendation, then
Due Diligence Committee recommendation	Iowa Economic Development Board	
PIAP	 	Due Diligence Committee recommendation	Iowa Economic Development Board	
EVA	 	Due Diligence Committee recommendation	Iowa Economic Development Board	
LCG	 	Loan & Credit Guarantee Committee recommendation	Iowa Economic Development Board	
TSBFAP	 	TSB Financial Assistance Board recommendation, then Due Diligence Committee recommendation	Iowa Economic Development Board	
	  b.   	 Award approval procedures—IVF(FES) or program funds (“old money”). The approval process for projects that are funded with IVF(FES) through the following programs or directly from available program fund moneys is as follows:

Funding Source: IVF(FES) or Program Funds (“old money”)	Role of Advisory Group	Final Decision Maker	
CEBA:	Small business gap financing component	Due Diligence Committee recommendation	Iowa Economic Development Board	
 	New business opportunities and new product development components	Due Diligence Committee recommendation	Iowa Economic Development Board	
 	Venture project component (over $100,000)	Due Diligence Committee recommendation	Iowa Economic Development Board	
 	Venture project component
(up to $100,000)	 	IDED Director	
 	Modernization project component (over $250,000)	Due Diligence Committee recommendation	Iowa Economic Development Board	
 	Modernization project component (up to $250,000)	 	IDED Director	
 	Case management and entrepreneurial assistance (over $25,000)	 	IDED Director	
 	Case management and entrepreneurial assistance (up to $25,000)	 	IDED Division Administrator, Business Development Division	
VAAPFAP	 	APAC recommendation	IDED Director	
PIAP:	Up to $1M award	 	IDED Director	
 	Over $1M	IDED Director to consult with
Iowa Economic Development Board	IDED Director	
EVA	 	 	IDED Director	
Brownfields	 	Brownfield Advisory Council recommendation	Iowa Economic Development Board	
TSBFAP	 	Targeted Small Business Advisory Committee recommendation	IDED Director	
	  c.   	 Award approval procedures—EDSA. The approval process for projects that are funded with EDSA moneys is as follows:

Program Source: CDBG	Role of Advisory Group	Final Decision Maker	
EDSA	 	IDED Director	
	  d.   	 Award approval procedures—EZ and HQJC. The approval process for tax credit projects is as follows:

Tax Credit Programs	Role of Advisory Group	Final Decision Maker	
EZ	 	IDED Director	
HQJC
(if less than 50 jobs
and $10M investment)	 	IDED Director	
HQJC
(if more than 50 jobs
and $10M investment)	Due Diligence Committee recommendation	Iowa Economic Development Board