Iowa Admin. Code r. 261-406.6 - Eligible and ineligible costs
(1)
Eligible costs. Examples
of project costs that are eligible for financial assistance include, but are
not limited to:
a. Real and personal property
comprising a project .
b. Materials
and equipment required for necessary site preparation, construction and
installation of a project .
c. Labor
for site preparation, construction and installation of a project .
d. Costs associated with maintenance,
operation or repair of a project during the term of the loan .
(2)
Ineligible
costs. Examples of project costs that are not eligible for financial
assistance include, but are not limited to:
a.
Administrative costs or employee salaries of the borrower or any affiliates
that are not associated with site preparation, construction and installation of
a project .
b. Costs incurred prior
to the committee 's recommendation to approve a loan . Costs incurred prior to
the committee 's recommendation may be eligible for assistance if the borrower
demonstrates the necessity to begin incurring costs sooner.
c. Feasibility studies.
d. Engineering and final design.
e. Permitting or regulatory costs.
f. Other costs that the board determines to
be ineligible.
Notes
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