265—11.2(16) Public benefit.

1. 1. Rehabilitation of upper floor housing or commercial properties or new construction development on infill vacant lots located in the downtown area of a participating city;
2. 2. Housing in downtown areas located in a participating city; or
3. 3. Stimulation of downtown area economic development within the context of historic preservation of the downtown area in a participating city.

Projects are approved for an Iowa main street loan if they demonstrate one of the following public benefits:

[ARC 8413C, IAB 11/27/24, effective 1/1/25]