The Destination Iowa Fund (DIF) grant program provides grants to eligible applicants on a competitive basis.
Donor Name: Iowa Economic Development Authority (IEDA)
State: Iowa
County: All Counties
Type of Grant: Grant
Deadline: 01/31/2024
Size of the Grant: Not Available
Grant Duration: Grant Duration Not Mentioned
Details:
The DIF Grant Program is funded through a legislative appropriation. Funds will be awarded to projects investing in vertical infrastructure to create or expand existing Primary Destinations to increase tourism to the state. Projects will attract visitors and new residents to the state and bolster the quality of life in Iowa’s rural communities. The aim is to make strategic investments that yield lasting results and create a positive ripple effect throughout the community. These projects will not only address immediate needs but also contribute to long-term sustainability and enhance the overall quality of life for residents.
Fiscal Year Allocation: $6.5 million
Eligible Projects
- Economically significant projects that increase tourism opportunities.
- Examples include: cultural and entertainment facilities, event centers
- Development and enhancement of outdoor recreational opportunities
- Projects that contribute to quality of life in rural communities.
- Pools and splash pads, libraries and community parks are not eligible for funding.
- Priority will be given to applicants that have not been awarded money from the federally funded Destination Iowa fund or other programs intended to support community attraction and tourism projects after July 1, 2018.
- Projects that have received a federally-funded Destination Iowa grant or CAT grant are not eligible, unless a newly defined phase is identified.
- Priority will be given to projects that include development of a new facility or amenity over projects that primarily renovate or replace existing facilities.
Eligibility Applicants
A city, county, or not-for-profit organization is eligible to apply for DIF grant funds.
- An eligible applicant may apply individually or jointly with another eligible applicants. Applicants must own the Destination.
Eligibility Requirements
Requirements for DIF grant awards include but are not limited to the following:
- Project must be primarily vertical infrastructure; including major renovations and trails
- Applicants must demonstrate how the project is or will be available for year-round use by the public.
- Applicant must own or intend to own the property that is the subject of the project.
- Applicants must describe the Primary Destination and how the proposal increases tourism, enhances visitor experiences or bolsters community development.
- Applicants are required to demonstrate how the project will be a draw to people from outside of the local community and/or the state
- Applicants who have previously received funding from IEDA shall have demonstrated acceptable past performance, including the timely expenditure of funds.
- Applications shall demonstrate the feasibility of completing the proposed activities with the funds requested within grant timeline.
- Applications shall identify and describe any and all other sources of funding for the proposed activities.
- Projects shall demonstrate broad public support including city, county and local private dollars.
- No more than 50% of the project can be funded by state dollars, including the amount awarded with Destination Iowa Fund funding.
- 100% of funding sources must be secured within six-months of award.
- Applicants shall provide a clear financial plan, demonstrating their ability to match the grant funds and sustain the project beyond the grant period.
- Eligible projects must be under contract for construction within 12-months of award.
- Eligible projects can receive grant funds up to 25% of eligible project costs related to the construction, development, or expansion of destination.
- Eligible projects must have 65% of financing/fundraising secured at time of the preapplication
- Minimum Total Project Costs:
- Urban – $5 million or greater
- Rural – $1.5 million or greater
- Half of program funds are allocated to “Rural” Destinations. Funds not awarded by April 1, 2024 may be awarded to eligible project.
Ineligible Applicants include but are not limited to:
- For-Profit businesses
- State Agencies, Community Colleges and Regent Institutions
- Casinos and Gaming Organizations
- Community School Districts
For more information, visit IEDA.
