TITLE 14: COMMERCE
SUBTITLE C: ECONOMIC DEVELOPMENT
CHAPTER I: DEPARTMENT OF COMMERCE AND COMMUNITY AFFAIRS
PART 610 PUBLIC INFRASTRUCTURE LOAN AND GRANT PROGRAMS
SECTION 610.800 FUNDING LIMITATIONS


 

Section 610.800  Funding Limitations

 

a)         The Department shall not exceed $5,000,000 in total small project loan balances outstanding at any time.

 

b)         The Department shall not award more than $500,000 per fiscal year in small project grants.

 

c)         The Department shall not award an amount of credit enhancement loans and grants which, combined with the total of outstanding affordable financing of public infrastructure credit enhancement loans, exceeds $1,000,000 at any time.

 

d)         Loss reserve fund trusts funded from funding reserve grants shall not exceed 25% of the total public infrastructure financing issued by the State public infrastructure financing intermediary intended to be subject to the loss reserve fund.  The Department shall not in total award Affordable Financing of Public Infrastructure grants for loss reserves in excess of $1,000,000.

 

(Source:  Added at 18 Ill. Reg. 8398, effective May 23, 1994)