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 610.400 - Direct Grants and Loans

Universal Citation: 14 IL Admin Code ยง 610.400

Current through Register Vol. 48, No. 38, September 20, 2024

a) The Department is authorized to provide small project affordable financing of public infrastructure grants and loans to local governments, local public entities, local medical facilities, and public health clinics of up to 25% of the project costs where the Department has determined that affordable financing is available for the balance of the project cost, but not for the amount to be subject to the small project affordable financing of public infrastructure grant or loan. No small project grant or loan shall exceed $100,000. [30 ILCS 750/8-10(d)]

b) The Department is authorized to make small project loans which may not exceed $100,000 in principal. The repayment period for small project loans shall not exceed 10 years.

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