15E.233 - ECONOMIC ENTERPRISE AREAS.
15E.233 ECONOMIC ENTERPRISE AREAS.
1. An economic development region may apply to the department for
approval to be designated as an economic enterprise area based on
criteria provided in subsection 3. The department shall approve no
more than ten regions as economic enterprise areas.
2. a. An approved economic enterprise area may apply to the
department for financial assistance from the grow Iowa values fund
for up to seventy-five thousand dollars each fiscal year during the
fiscal period beginning July 1, 2005, and ending June 30, 2015, for
any of the following purposes:
(1) Economic development-related strategic planning and marketing
for the region as a whole.
(2) Economic development of fully-served business sites.
(3) The construction of speculative buildings on a fully served
lot.
(4) The rehabilitation of an existing building to marketable
standards.
b. In order to receive financial assistance under this
subsection, an economic enterprise area must demonstrate the ability
to provide local matching moneys on a basis of a one dollar
contribution of local moneys for every three dollars received from
the grow Iowa values fund.
3. An economic enterprise area shall consist of at least one
county containing no city with a population of more than twenty-three
thousand five hundred and shall meet at least three of the following
criteria:
a. A per capita income of eighty percent or less than the
national average.
b. A household median income of eighty percent or less than
the national average.
c. Twenty-five percent or more of the population of the
economic enterprise area with an income level of one hundred fifty
percent or less of the United States poverty level as defined by the
most recently revised poverty income guidelines published by the
United States department of health and human services.
d. A population density in the economic enterprise area of
less than ten people per square mile.
e. A loss of population as shown by the 2000 certified
federal census when compared with the 1990 certified federal census.
f. An unemployment rate greater than the national rate of
unemployment.
g. More than twenty percent of the population of the economic
enterprise area consisting of people over the age of sixty-five. Section History: Recent Form
2005 Acts, ch 150, §11
Referred to in § 15E.232, 15G.111