Private Activity Bond Program

The Private Activity Bond Program lets the Iowa Finance Authority issue tax-exempt bonds on behalf of private entities for projects that serve a public purpose in Iowa. It is a financing route rather than a grant, and the bonds are repaid from private project revenue with no liability to the state. Eligible uses include solid waste disposal facilities, affordable multifamily housing, industrial revenue bonds, and projects for 501(c)(3) nonprofit corporations. There is no fixed award amount because the bond size varies by project; the issuer fee is tiered and capped at $75,000, with an initial application fee of $1,000 for deals up to $10 million or $2,500 above that threshold. Applications follow a rolling cadence and must arrive about 10 days before monthly board meetings, and issued bonds expire if they are not placed within 18 months. The route suits projects that can satisfy IRS private-activity-bond rules and support themselves from project revenue rather than operating grants.

Each grant below is a distinct funding opportunity with its own eligibility, scope, and deliverables.