TITLE 14: COMMERCE
SUBTITLE C: ECONOMIC DEVELOPMENT
CHAPTER I: DEPARTMENT OF COMMERCE AND COMMUNITY AFFAIRS
PART 600 ILLINOIS EQUITY INVESTMENT FUND
SECTION 600.40 SELECTION FOR FUNDING


 

Section 600.40  Selection for Funding

 

For any application which meets the criteria of Section 600.30, Department staff will then conduct a field visit to verify information in the application which will lead to the final funding decision.  Top ranking applications will receive equity funds until all available funds are expended.  The field visits will analyze application characteristics, which include:

 

a)         a comparative assessment of projects in terms of job creation, in relation to the funds requested;

 

b)         a verification of submitted application information; and

 

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