Iowa Admin. Code r. 605-14.4 - Flood mitigation project eligibility
(1) An eligible applicant is a governmental
entity as defined in rule
605-142.
(418).
(2) Eligible project types
include construction and reconstruction of levees, embankments, impounding
reservoirs, conduits, or other means that are necessary for the protection of
property from the effects of floodwaters and may include the deepening,
widening, alteration, change, diversion, or other improvement of watercourses
if necessary for the protection of such property from the effects of
floodwaters. A project may consist of one or more phases of construction or
reconstruction that are contracted for separately if the larger project , of
which the project is a part, otherwise meets the requirements of this
subrule.
(3) For the project to be
eligible for flood mitigation funding from the sales tax increment fund, the
project , or an earlier phase of the project , is required to have been approved
to receive federal financial assistance under the Water Resources Development
Act (WRDA), the Environmental Protection Agency (EPA), or other federal
programs providing assistance specifically for hazard mitigation . Prior to
submission of an application, a governmental entity shall request a report from
the Iowa department of revenue that provides recent historical data on sales
tax revenue and trends in sales tax revenue growth. If a project is eligible
for state financial assistance under Iowa Code section
29C6(17).,
such project is ineligible for flood mitigation funding under this chapter. The
federal award must be in an amount equal to at least 20 percent of the total
project cost or $30 million, whichever is less.
(4) For the project to be eligible for flood
mitigation funding from the flood mitigation fund or sales tax increment fund,
the governmental entity shall provide a local match of at least 50 percent of
the total cost of the project less any federal financial assistance. The sales
tax increment shall fund a maximum of 50 percent of the total project cost. The
federal share of the total project cost shall be a minimum of 20 percent of the
total project cost or $30 million, whichever is less. The local match, when
combined with the federal share, shall fund a minimum of 50 percent of the
total project cost. The governmental entity shall provide funding for the local
match.
(5) The project must result
in nonpublic investment in the governmental entity 's area, as defined in Iowa
Code section
41811(3).,
of an amount equal to 50 percent of the total cost of the project . For purposes
of this subrule, "nonpublic investment" means investment by nonpublic entities
consisting of capital investment or infrastructure improvements occurring in
anticipation of or as a result of the project during the period of time between
July 1, 2008, and ten years after the board approves the project .
(6) A governmental entity shall not seek
approval from the board for a project if the governmental entity previously had
a board -approved project or if the governmental entity was part of a
governmental entity as defined in rule
605-142. (418) that
had a board -approved project .
Notes
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