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 610.500 - Application Cycle and Criteria for Grants and Loans
Universal Citation: 14 IL Admin Code ยง 610.500
Current through Register Vol. 48, No. 12, March 22, 2024
a) Application Availability
1) Applications for direct grant and loan
assistance from the Department will be openly available if sufficient monies
are allocated for the program. Upon request, the Department will supply
potential applicants with an application package if sufficient monies are
allocated for the program.
2)
Qualified applicants may apply for grant and loan assistance under this
program. Such applicants must submit an application on forms provided by the
Department. A standard application form will be used statewide.
b) Program Application - Applications for grant and loan assistance from the Department must address the following items:
1) Written certification by
the applicant that an essential need exists for the public infrastructure
financing in order to secure a health, safety or economic development project
within the community.
2) The
applicant's financing capability and its ability to pay for, or secure the
payment of, part or all of the proposed public infrastructure improvements, and
the local government's tax effort, as shown by local tax rates relative to
other local governments of the same type in the State. However, if the
applicant is a not-for-profit medical facility or public health clinic, the
applicant need not address the local government's tax effort.
3) Local financing mechanisms available to
help pay for the costs of the public infrastructure project, including, but not
limited to, local revenue bonds, special service area tax proceeds, local user
charges, or applicable federal loans or grants.
4) The proposed public infrastructure
improvements described in detail which shows their relationship to existing
public property and capital improvement plans, as well as the pending health,
safety or economic development project.
5) Certification that the project is a
health, safety or economic development project.
6) The applicant's readiness to implement the
project by providing a time schedule for project initiation; cost estimates
which demonstrate the cost feasibility of the project; and a signed resolution
of support from the organization's governing body.
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