Assistance to Help Grow and Preserve Communities

November 28, 2022
Assistance to Help Grow and Preserve Communities

State of Iowa assistance is available to help grow and preserve your community through programs that support building rehabilitation, large-scale projects, connecting rural Iowans and more. Enhancing your community is easier than ever.

Below are a series of funding sources to investigate. Keep in mind not all funding sources will be applicable for all projects and/or communities.

Community Catalyst Building Remediation Program - Assists communities with the redevelopment or rehabilitation of buildings to stimulate economic growth or reinvestment in the community. Grant is up to $100,000. Forty percent of funds will be awarded to cities with populations under 1,500. Cities must be the applicant and provide financial and/or in-kind resources. A mandatory pre-application process will precede the official grant application. Applications are by invitation only, after an approved pre-application. Full application scoring is based on three target areas: Project Impact (30 points); Project Appropriateness (10 points); Project Funding/Partnerships (10 Points). Applications must receive 30 points out of 50 to be eligible for funding. For more information, visit iowaeda.com/downtown-resource-center/community-catalyst

Theater - Community Catalyst Building Remediation Program - Much like the Community Catalyst Building Remediation Program, this program focuses on increasing programming, identifying brick and mortar improvements, and an acceptable fundraising plan to meet those two goals. For more information regarding this program, visit iowagrants.gov, click on funding opportunities and locate the Theater – Community Catalyst Building Remediation Program. Questions? Contact jim.thompson@iowaeda.com.

Downtown Loan Guarantee Program - This new program encourages Iowa downtown businesses and financial institutions to reinvest and reopen stronger following the COVID-19 crisis. Iowa Economic Development Authority (IEDA), in partnership with the Iowa Finance Authority (IFA), will provide financial assistance in the form of loan guarantees for eligible downtown revitalization projects. For more information, visit iowaeda.com/downtown-resource-center/downtown-loan-guarantee

Downtown Revitalization Fund Community Development Block Grant - The Downtown Revitalization Fund Community Development Block Grant provides grants to communities for downtown façade improvements. For more information, visit iowaeda.com/cdbg/downtown-revitalization-fund

Derelict Building Program - The Department of Natural Resource’s Derelict Building Program offers Iowa communities of 5,000 or fewer residents financial assistance to address/rehabilitate neglected structures that have sat vacant for at least six months. For more information, visit iowadnr.gov/Environmental-Protection/Land-Quality/Waste-Planning-Recycling/Derelict-Building-Program

Nuisance Property and Abandoned Building Remediation Loan Program - Loans secured through this program may be used for the demolition or remediation and reuse of residential, commercial, or industrial structures. For more information, visit iowaeda.com/nuisance-property

Assisting Communities in Providing Available & Affordable Housing – Upper Story Housing - This program assists communities with preserving existing housing stock and creating new housing opportunities. The eligible housing activity includes upper story housing conversion. This program is funded through the federal Community Development Block Grant (CDBG) and must primarily benefit low- and moderate-income individuals. The Upper Story Housing Conversion program provides assistance for the conversion of existing downtown building space into new residential units. The maximum award under this program is $600,000 - $550,000 inclusive of project and administrative costs and an optional additional amount of $50,000 for Green Streets Criteria. For more information, visit iowaeda.com/cdbg/housing-rehabilitation

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