DRAFT

Category/Metric

Source

• % Vacant Homes

American Community Survey

• % Housing Cost Burdened

HUD Comprehensive Housing Affordability Strategy (CHAS)

Education • % with high school diploma or less

American Community Survey

Property Value and Debt • Valuation per Capita

Iowa Department of Management 4

• Debt per Capita

State Treasurer of Iowa 5

For each of the 15 metrics, applicants will be given a score indicating the relative disadvantage to the other communities in the state (see table below) 6 . Scores for each metric are totaled to produce an overall assessment of the applicant’s underlying social, economic, and demographic profile.

Percentile Rank

Relative Disadvantage

Points

Top 1/3

Low

0 1 2

Middle 1/3 Bottom 1/3

Moderate

High

Example: An applicant with a poverty rate falling in the 73 rd percentile (a high rate) would be one of the bottom 1/3 of communities and receive 2 points for that metric. With 15 total metrics, equally weighted, the maximum number of points will be 30. Communities or service areas with a cumulative score of 11 and up (e.g., falling in the top 2/3 of the total possible cumulative score) indicates that the community or service area is socially, economically, and/or demographically disadvantaged relative to the other communities in the state. Conversely, applicants who score in the bottom 1/3 of total cumulative points (e.g., 10 total points or less), will not be eligible to receive principal forgiveness. The amount of principal forgiveness available to a community will be established on a point scale as detailed below and may be adjusted annually in the IUP. Applicants with a socioeconomic score between 11-30 points will be eligible for consideration of SRF loan forgiveness and may qualify to receive loan forgiveness from the FFY 2022 BIL General CWSRF Supplemental Fund (when combined with the other elements of the loan forgiveness equation).

Point Range

Principal Forgiveness

Low

0-10

Moderate-Low

11-15 16-20 21-25 26-30

15% 20% 25% 30%

Moderate

Moderate-High

High

One of the primary benefits of the Socioeconomic Assessment is that it provides a baseline view of the amount of loan forgiveness a community or service area will be eligible to receive at the time an IUP application is submitted. Then,

4 Local Government Valuation & Finance, 100% Valuations as of 1/1/2020 for SFY 2021-22 5 Outstanding Obligations Report 6 The only exception is Population Trend. No points for positive or 0% growth, 1 point for negative growth up to -10%, 2 points for more than -10% population growth.