Calling it his signature piece of legislation, Gov. Chet Culver Thursday signed into law his $830 million I-JOBS bonding plan.
In ceremonies in Marshalltown and Iowa City, Culver signed Senate Files 376, 477, and 474, all aimed at upgrading state infrastructure, creating jobs and flood recovery.
“Passing the legislation was the easy part,” Culver said. “Now, we must get to work creating good jobs and revitalizing our communities.”
The plan, which Culver discussed during his Condition of the State address, establishes an 11-member board within the Iowa Finance Authority to oversee payment of the bonds and ensure the projects fit into the program’s criteria, which include the number of jobs created, the project’s readiness to proceed immediately, and the project’s energy efficiency, among other things. Culver is expected to appoint six of the 11 members, although the time frame of the appointments is not clear. The other members of the board are the directors of several state departments.
The state is expected to sell bonds to pay for grants this summer, with the first grants being awarded soon after the bonds are sold. All money is required to be spent within three years.
Before the measure passed, Culver called on county, city and school officials to submit projects they believed could benefit from I-JOBS money. More than 4,000 projects were submitted, however governments will have to officially resubmit applications to be considered.
Below is a complete breakdown of the I-JOBS spending targets, according to the governor’s office:
Veterans home, community colleges and other public improvements: $285 million
· $185 million to improve public facilities across Iowa, such as the Iowa Veterans Home, correction facilities, and our community colleges.
· $100 million for further investments in state public infrastructure, including state parks.
Flood recovery and rebuilding: $165 million
· $118.5 million in competitive grants available for reconstruction of local public buildings and flood control prevention in communities hit by last year’s disasters.
· $46.5 million in grants targeted for help to Linn County, Cedar Rapids, and to rebuild fire stations in Palo, Elkader, and Charles City.
Transportation infrastructure: $115 million
· $50 million to improve the safety of Iowa’s bridges.
· $55 million to cities and counties to improve local roads, including many roads still damaged by last year’s natural disasters.
· $10 million invested in airports, rail and trails.
Iowa’s universities: $115 million
· $100 Million to rebuild 10 buildings destroyed by flooding at the University of Iowa, which will allow the use of nearly $500 Million in federal funds
· $15 Million to build a veterinary hospital lab at Iowa State University
Environment and water quality: $80 million
· $35 million to help construct sewers in communities under 10,000.
· $20 million in competitive grants for communities of any size for water improvement projects.
· $25 million to water-quality projects, including flood prevention, as well as soil conservation practices.
Housing needs: $35 million
· $20 million invested in affordable housing for elderly, disabled, and low-income Iowans.
· $10 million to construct or improve shelters for domestic abuse, emergencies, and the homeless.
· $5 million to repair homes damaged by last year’s floods.
Telecommunications and renewable energy: $35 million
· $25 million invested in improving access to technology throughout Iowa.
· $10 million to create a revolving loan program to support alternative energy projects to support both new jobs and energy independence.





