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IA
Brownfield and Grayfield Redevelopment Tax Credit
Tax credits of up to 24% for brownfield projects and 12% for grayfield projects for retailers and developers rehabilitating abandoned or underutilized commercial properties; up to 30% or 15% respectively if green building standards are met.
About this program
Visit the program website for full details.
Eligibility
Applicants must be individuals, LLCs, S corporations, nonprofits, estates, or trusts undertaking qualifying rehabilitation of brownfield or grayfield sites in Iowa. Brownfields are abandoned or underutilized industrial or commercial properties with actual or perceived environmental contamination; grayfields are vacant, blighted, or underutilized commercial properties.
Requirements
- Property must qualify as a brownfield or grayfield site as defined by IEDA
- Application must be submitted during July–August annual window
- Maximum award is $1.5 million per project