Illinois Administrative Code
Title 14 - COMMERCE
Part 610 - PUBLIC INFRASTRUCTURE LOAN AND GRANT PROGRAMS
Subpart B - AFFORDABLE FINANCING OF PUBLIC INFRASTRUCTURE LOAN AND GRANT PROGRAM
Section 610.200 - Definitions

Universal Citation: 14 IL Admin Code ยง 610.200
Current through Register Vol. 48, No. 38, September 20, 2024

"Affordable Financing" shall mean access to a financing rate equivalent to that of an "A" rated borrower.

"Application" shall mean a request for program funds including the required forms and attachments.

"Department" shall mean the Illinois Department of Commerce and Community Affairs.

"Grant" shall mean funds which require no repayment to be used by a qualified applicant.

"Local Government" shall mean any unit of local government as defined in Article VII, Section 1 of the 1970 Illinois Constitution.

"Local Public Entity" shall mean any entity as defined by Section 1-206 of the Local Governmental and Governmental Employees Tort Immunity Act [745 ILCS 10/1-206] .

"Medical Facility" shall include a hospital, infirmary, clinic, dispensary, mental institution or similar facility.

"Public Health Clinic" means an outpatient clinic conducted by a locally based not-for-profit corporation, or by any local board of health whose health department is recognized by, and has a designation status established by, the Illinois Department of Public Health.

"Public Infrastructure," for the purposes of the Affordable Financing of Public Infrastructure Loan and Grant Program, shall mean capital acquisitions, construction, and improvements to other local facilities and sites, and associated permanent furnishings and equipment that are a necessary precondition for projects necessary to further the development potential of the community.

"Qualified Applicants," for the purpose of the Affordable Financing of Public Infrastructure Loan and Grant Program, shall mean local governments, local public entities, medical facilities, and public health clinics.

"Resource Leveraging" shall mean a financial contribution which includes other sources of private and public financing (e.g., Economic Development Administration, Environmental Protection Agency, Farmers Home Administration). Costs incurred prior to the date of grant award will not be considered as resource leveraging.

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