Reminder: IEDA Workforce Housing and Brownfield/Grayfield Applications
The Iowa Workforce Housing Tax Incentive Program application round is currently open for 2021. Qualifying physical development projects may receive transferable state tax credits based on project investment. The deadline to apply is July 19, 2021 at 11:59 PM. Full details of the program are available on the Iowa Economic Development Authority website.
Applications to IEDA’s Redevelopment Tax Credit Program for Brownfields and Grayfields will also be accepting applications for redevelopment projects in July and August. The deadline to submit applications in 2021 is September 1st:
- Brownfield sites are abandoned, idled or underutilized industrial or commercial properties where real or perceived environmental contamination prevents productive expansion or redevelopment. Examples of brownfield sites include former gas stations, dry cleaners and other commercial operations that may have utilized products or materials potentially hazardous to the environment.
- Grayfield sites are abandoned public buildings, industrial or commercial properties that are vacant, blighted, obsolete or otherwise underutilized. A grayfield has been developed and has infrastructure in place but the property’s current use is outdated or prevents a better or more efficient use of the property.
All applications undergo competitive evaluation by Brownfield Advisory Council who makes recommendations to IEDA Board. A detailed program summary with more information is available on the IEDA website.
Cedar Rapids Economic Development Services staff would be glad to assist interested parties in the task of obtaining technical assistance for these programs. Please feel free to contact us at EDservices@cedar-rapids.org with questions.