Illinois Administrative Code
Title 35 - ENVIRONMENTAL PROTECTION
Part 662 - PROCEDURES FOR ISSUING LOANS FROM THE PUBLIC WATER SUPPLY LOAN PROGRAM
Subpart B - FINANCING TERMS
Section 662.220 - Loan Repayment Period
Current through Register Vol. 48, No. 38, September 20, 2024
a) Except as provided in subsections (b) and (c), the loan repayment period cannot exceed the lesser of 30 years beyond the initiation of operation date, 30 years beyond the initiation of the loan repayment period, or the projected useful life of the project to be financed with proceeds of the loan.
b) For loan applicants that are a disadvantaged community, the loan repayment period cannot exceed the lesser of 40 years beyond the initiation of operation date, 40 years beyond the initiation of the loan repayment period, or the projected useful life of the project to be financed with proceeds of the loan.
c) The Agency may require a loan repayment period term of less than the maximum. In evaluating the appropriateness of alternative loan terms, the Agency shall consider such factors as the scope of the proposed project, the impacts of alternative loan terms on user fees, and the overall cost of the project.
