16.201 - JUMPSTART HOUSING ASSISTANCE PROGRAM.
16.201 JUMPSTART HOUSING ASSISTANCE PROGRAM.
1. The Iowa finance authority shall establish and administer a
jumpstart housing assistance program. Under the program, the
authority shall provide grants to local government participants for
purposes of distributing the moneys to eligible residents for
eligible purposes which relate to disaster-affected homes.
2. An eligible resident is a person residing in a
disaster-affected home who is the owner of record of a right, title,
or interest in the disaster-affected home and who has been approved
by the federal emergency management agency for housing assistance.
An eligible resident must have a family income equal to or less than
one hundred fifty percent of the area median family income.
3. Eligible purposes include forgivable loans for down payment
assistance, emergency housing repair or rehabilitation, and interim
mortgage assistance. An eligible resident who receives a forgivable
loan may also receive energy efficiency assistance which shall be
added to the principal of the forgivable loan.
4. A local government participant may retain a portion of the
grant moneys for administrative purposes as provided in a grant
agreement between the authority and the local government participant.
5. Any money paid to a local government participant by an
eligible resident shall be remitted to the authority for deposit in
the housing assistance fund created in section 16.40.
6. As determined by the authority, unused or unobligated moneys
may be reclaimed and reallocated by the authority to other local
government participants.
7. As used in this section, unless the context otherwise
requires:
a. "Disaster-affected home" means a primary residence that
was destroyed or damaged due to a natural disaster occurring after
May 24, 2008, and before August 14, 2008.
b. "Local government participant" means the cities of Ames,
Cedar Falls, Cedar Rapids, Council Bluffs, Davenport, Des Moines,
Dubuque, Iowa City, Waterloo, and West Des Moines; a council of
governments whose territory includes at least one county that was
declared a disaster area by the president of the United States after
May 24, 2008, and before August 14, 2008; and any county that is not
part of any council of governments and was declared a disaster area
by the president of the United States after May 24, 2008, and before
August 14, 2008. Section History: Recent Form
2009 Acts, ch 170, §4, 11
Referred to in § 15F.204 Footnotes
Section takes effect March 16, 2009, and applies retroactively to
July 1, 2008, for the fiscal year beginning on that day; 2009 Acts,
ch 170, §11