Section 610.100  Program Purpose

a)         The Affordable Financing of Public Infrastructure Loan and Grant Program provides affordable financing of public infrastructure in the form of loans and grants to, or on behalf of, local governments, local public entities, medical facilities, and public health clinics from appropriations from the Public Infrastructure Construction Revolving Loan Fund for the purpose of assisting with the financing, or application and access to financing, of a community's public infrastructure necessary to health, safety, and economic development. Funds are available either directly from DCCA enumerated in Section 610.400 or through the designated intermediaries enumerated in Section 610.300(b).

b)         The Department may provide credit enhancement loans and grants to State public infrastructure financing intermediaries on behalf of local governments, local public entities, local medical facilities, and local public health clinics.  The funds may be used for the purpose of leveraging access to other sources of financing available from the intermediary.  Grants may be used to establish loss reserve funds or purchase letters of credit and other forms of credit enhancement to facilitate financing of public infrastructure projects. Loss reserves shall be established in conformance with 30 ILCS 8/10(f).

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