Community Catalyst Building Remediation

261-45.1(15) Purpose.  Pursuant to Iowa Code sections 15.231 and 15.106A, the authority is directed to establish a community catalyst building remediation program fund for the purpose of providing grants to cities for the remediation or redevelopment of underutilized buildings.  The authority shall administer the fund in a manner to make grant moneys annually available to cities for the purposes of this chapter.

Program Definition

Through the Community Catalyst Building Remediation Program, the Iowa Economic Development Authority will provide grants to communities for the redevelopment, rehabilitation or deconstruction of buildings to stimulate economic growth or reinvestment in the community.  Strong applications will show the potential of catalytic economic growth in the community; improve appearances & safety; make use of underutilized property, exhibit appropriate design standards; and be well-funded.  Economic growth may include the creation of additional jobs, growth of new or existing businesses, development of new housing units, increase property values, or potential population growth.

Program Details

• Funding based on annual appropriation
• Maximum grants:  $100,000
• 40% of funds will be awarded to cities with populations under 1,500
• A mandatory pre-application process will precede the official grant application
• Applications are by invitation only after approved pre-application.  City must be the applicant
• Funds available for the rehabilitation of one commercial building per community or two buildings with same ownership that are adjacent to each other
• Deconstruction is allowed in dire situations or for safety reasons

For questions, contact Jim Thompson, (515) 348-6183; [email protected]