The Housing and Community Services Department may select fiduciary organizations to administer moneys directed by the state to individual development account purposes. In making the selections, the department shall consider factors including, but not limited to:

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(1) The ability of the fiduciary organization to implement and administer the individual development account program, including the ability to verify account holder eligibility, certify that matching deposits are used only for approved purposes and exercise general fiscal accountability;

(2) The capacity of the fiduciary organization to provide or raise matching funds for the deposits of account holders;

(3) The capacity of the fiduciary organization to provide appropriate support services and general assistance to advance account holder self-reliance; and

(4) The links that the fiduciary organization has to other activities and programs designed to increase the independence of this state’s lower income households through education and training, home ownership and small business development. [1999 c.1000 § 6; 2007 c.765 § 6]

See note under 458.670.