Iowa Code r. 261-212.6 - Ineligible projects
The board shall not approve an application for assistance under this program under any of the following circumstances:
1. To refinance an existing loan.
2. To fund a project that has previously
received financial assistance under the vision Iowa program, unless the
applicant demonstrates that the assistance would be used for a significant
expansion of the project.
3. A
project in which vision Iowa funding would constitute more than 50 percent of
the total project costs. A portion of the resources provided by the applicant
for project costs may be in the form of nonfinancial support.
Notes
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