Section 610.40  Selection for Funding

a)         For any application which meets criteria of Section 610.30, Department staff will then conduct a field visit evaluation to verify information in the application, leading to the final funding decision.  The field visits will analyze application characteristics, which include:

1)         an assessment of the projects in terms of job creation, in relation to the value of the loan/grant and types of jobs preferred as described in Section 610.30(a)(3);

2)         a verification of submitted application information; and

3)         past performance of the applicant under previous Departmental programs, if applicable (e.g., success in previous projects and the level of compliance with previous grant agreements).

b)         Applications which best meet the objectives of the program and demonstrate the greatest potential for job creation will receive loan or grant funds, until all available funds are expended.  The Department will provide program funds in the form of a grant only when it can be demonstrated that the locality's financial capability will not generate the necessary revenues to pay the debt service on the cost of the public improvement described in the application.  Grants will also be authorized in those circumstances where the proposed Infrastructure project is necessary to encourage large out-of-state firms to locate in Illinois or to encourage existing large companies to undertake job expansion or retention projects.

(Source:  Amended at 14 Ill. Reg. 19164, effective November 26, 1990)