Illinois Administrative Code
Title 74 - PUBLIC FINANCE
Part 1100 - ILLINOIS FINANCE AUTHORITY
Subpart E - ILLINOIS HOUSING PARTNERSHIP PROGRAM
Section 1100.535 - Funding Restrictions and Eligible Costs

Universal Citation: 74 IL Admin Code ยง 1100.535

Current through Register Vol. 48, No. 12, March 22, 2024

a) No more than 3 dollars of program funds may be provided for every 7 dollars obtained by the municipality from private sources.

b) No more than $1,000,000 in program funds may be awarded in any fiscal year to a single project.

c) No more than $2,000,000 in aggregate program funds may be awarded in any fiscal year to projects developed or initiated by any single private sector developer.

d) No program loan may be less than $30,000 in amount.

e) Program funds shall be used only for rehabilitation of existing housing. Program funds shall be used only to pay for eligible project costs. Eligible project costs will be defined in the loan agreement.

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