The Iowa Department of Economic Development is in the processing of determining the ending date of the Jump Start Business program, and the beginning date of a new commercial rent assistance program. The plan (as of 9 March) is next week to officially announce the end of applications for the current Jump Start Business program on 15 April, with the final date for loans to be approved by 30 April. This should not pose a problem in our area since MIDAS has processed all loan requests that have been received. No new requests have been received for several weeks. However, if you are aware of any business that suffered a loss and is interested in a Jump Start Business loan, please let those businesses know the cut-off date right away.

The new commercial rental assistance program is slated to begin 1 May. It is designed to get commercial renters into buildings that were physically damaged by the floods and severe weather. The program will provide up to $50,000 in rent assistance over a six month period to any business that moves into, or has been paying rent for space in a building that was damaged by floods/severe weather. This will be a reimbursement type program, and businesses will have to have at least a one-year rental agreement. If the business has received assistance under the Jump Start Business program, that business will only be eligible for a maximum of $50,000 assistance combined between the Jump Start and Commercial Rent Assistance programs. The rules for this program are still being written, so this notice is only advisory in nature and information/rules/requirements are subject to change. That said, it would be wise to alert potential businesses and landlords that this program is coming (in some form) in the very near future. MIDAS will initiate a "waiting list" for those interested and make sure that applications and final rules are provided to those on the list as soon as they become available. Interested parties should contact the undersigned at

cweldon-midas@prairieinet.net or 515-576-7183 ext 211.

Clifford R. Weldon 
Executive Director 
MIDAS Council of Governments