Vision Iowa Program signed to boost community attractions
Gov. Tom Vilsack signed Senate File 2447 creating a 300 million bonding pool to aid Iowa communities and schools. The plan channels up to 200 million in state aid for projects costing at least 20 million with local match and a 75 million cap per project. The program aims to fund 6 to 10 major initiatives statewide including rural school improvements and regional attractions.
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Infrastructure fund expands bonds and CAT program nationwide
The plan appropriates 15 million annually for 20 years creating a 300 million bonding authority for projects over 20 million with a 75 million per project state aid cap. CAT continues 12.5 million yearly through 2004 totaling 62.5 million over five years for smaller recreation and tourism projects. A third of CAT funds go to small cities and counties. Local match required at 50 percent. Schools get 50 million bonding over three years with 25 percent set aside for small districts under 1200, 25 percent for 1200 to 4750 pupils, 25 percent for districts above 4750. remaining funds uncommitted.
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