Iowa Admin. Code r. 261-26.6 - Criteria for review
A municipality must submit the following information and
other information as may be required on forms developed by the
1. Narrative. A
description of the project and explanation of the need for the variance on
low-and moderate-income benefit percentage.
2. Total tax levy applied to TIF area, minus
debt service levies.
3. Current tax
rollback percentage.
4. Total
project development cost.
5. Number
of lots to be sold.
6. Projected
average home value within the housing project area.
7. Value of imimproved lots.
8. Proposed debt structure, including
interest rate, term of debt, transaction costs, repayment terms.
9. Projected revenue from a project by year,
including amount from tax increment, sale of lots, development fees and other
sources.
10. Projected sale of lots
by year.
11. Projected number of
homes completed by year.
12. Use of
five-year extension, if available.
13. Comments solicited or received from
parties affected by the variance.
14. Proposed amount of funds and activities
to benefit housing needs of LMI persons.
Notes
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