1. A good neighbor agreement is an enforceable contract between a business and a community group or coalition of community groups which requires the business to adhere to negotiated environmental, economic, labor, or other social and community standards.

Terms Used In Iowa Code 15A.4

  • Contract: A legal written agreement that becomes binding when signed.
 2. For any program providing financial assistance for economic development in which the assistance is provided on a competitive basis, a business which enters into a good neighbor agreement shall receive extra consideration of at least ten points or the equivalent. A business which fails to abide by the good neighbor agreement shall repay all financial assistance received under the program.
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