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Current as of January 01, 2024 | Updated by Findlaw Staff
1. The board shall establish and the authority, subject to direction and approval by the board, shall administer a community attraction and tourism program to assist communities in the development, creation, and regional marketing of multiple-purpose attraction or tourism facilities. Any moneys appropriated to the river enhancement community attraction and tourism fund created pursuant to section 15F.205 shall be used exclusively for the creation and enhancement of community attractions and tourism opportunities along lakes, rivers, and river corridors in cities across the state, but a recipient of moneys from the river enhancement community attraction and tourism fund shall not be precluded from receiving funds from the community attraction and tourism fund created pursuant to section 15F.204.
2. A city or county in the state or public organization may submit an application to the board for financial assistance for a project under the program. The assistance shall be provided only from funds, rights, and assets legally available to the board and shall be in the form of grants, loans, forgivable loans, and credit enhancement and financing instruments. The application shall include, but not be limited to, the following information:
a. The total capital investment of the project, including but not limited to costs for construction, site acquisition, and infrastructure improvement.
b. The amount or percentage of local and private matching moneys which will be or have been provided for the project.
c. The total number of jobs to be created or retained by the project.
d. The need of the community for the project and for the financial assistance.
e. The long-term tax-generating impact of the project.
3. A school district, in cooperation with a city or county, may submit a joint application for financial assistance for a project under the program. The assistance shall be provided only from funds, rights, and assets legally available to the board and shall be in the form of grants, loans, forgivable loans, and credit enhancement and financing instruments. In addition to the information required in subsection 2, the application shall include a demonstration that the intended future use of the project shall be by both joint applicants.
Cite this article: FindLaw.com - Iowa Code Title I. State Sovereignty and Management [Chs. 1-38D] § 15F.202. Community attraction and tourism program - last updated January 01, 2024 | https://codes.findlaw.com/ia/title-i-state-sovereignty-and-management-chs-1-38d/ia-code-sect-15f-202/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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