Section 265.29.8. Funds allocated pursuant to , division I.

Notwithstanding the foregoing, the following additional restrictions shall apply to loans made pursuant to program funding allocated under 2009 Iowa Acts, House File 64, division I:

         29.8(1) Income. An eligible resident must have a family income equal to or less than 150 percent of the area median family income.

         29.8(2) Application deadline. An eligible resident must submit an application for assistance by September 1, 2009.

         29.8(3) Priorities. Forgivable loans awarded under this rule shall be awarded pursuant to the following priorities:

            a.                First priority. First priority shall be given to eligible residents who have not received any moneys under the program.

            b.                Second priority. Second priority shall be given to eligible residents who have received less than $24,999 under the program.

            c.                Third priority. Third priority shall be given to eligible residents who have received $24,999 under the program and who continue to have unmet needs for down payment assistance, emergency housing repair or rehabilitation, interim mortgage assistance, or energy efficiency assistance. An eligible resident shall not receive more than an additional $24,999 under this paragraph.

         29.8(4) Maximum assistance. Except as provided in paragraph 29.8(3)“c,” an eligible resident who meets the area median family income requirement shall not receive more than $24,999 under the program.

[ARC 7899B, IAB 7/1/09, effective 6/10/09; ARC 8074B, IAB 8/26/09, effective 9/30/09; ARC 2004C, IAB 5/27/15, effective 7/1/15]