Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 1100 - ILLINOIS FINANCE AUTHORITY › Subpart B - FINANCING PROGRAMS › Section 1100.204 - Application Forms

Current through Register Vol. 48, No. 28, July 12, 2024
a)
				Persons seeking financing assistance for their project through one of the
				Authority's financing programs must submit information to enable the members to
				determine the nature of the project, the likelihood of repayment of a loan, the
				security structure needed for a loan, and the extent to which a project meets
				the applicable statutory requirements and purposes.
b) Each application for industrial, business,
				local government, not-for-profit organization or environmental projects must
				include to the extent applicable to the entity submitting the application and
				the particular facts of the project itself:
1) The legal name and address of the
				borrower;
2) The name(s) and
				address(es) of the principal occupant(s) or user(s), if different from the
				borrower;
3) A statement of the
				type of project (i.e., whether industrial, business, local government,
				not-for-profit organization or environmental);
4) A description of the type of business of
				the borrower;
5) The standard
				industrial classification code and category for the borrower's
				business;
6) The borrower's federal
				tax identification number or social security number;
7) The form of organization of the
				borrower;
8) A description of other
				businesses, if any, which have ownership interests in the borrower;
9) The names and addresses of shareholders
				holding more than 10% of stock in the borrower and/or all general partners if
				the borrower is a partnership; or, if the owner or any property financed would
				be a land trust, an identification of the trust and all beneficiaries of the
				trust including the percentage of beneficial interest of each beneficiary of
				the trust;
10) A listing of the
				names, positions, percent ownership and employment starting date, if any, of
				persons responsible for the management of the company;
11) A description of the history and
				background of the business of the borrower;
12) A complete description of the project
				including its proposed location, street address, legal description, elements of
				the proposed project (such as land acquisition, building construction,
				renovation, equipment purchases and installation, estimated project
				commencement and completion dates and information on tenants, if any, to whom
				any portion or portions of the project may be leased; and a copy of any real
				estate sales contract and/or any lease agreement pertaining to the
				project;
13) A description of the
				products to be produced at the proposed facility;
14) A description of the machinery and
				equipment to be acquired with proceeds of the bond issue, including acquisition
				lead time, the cost of the equipment and whether it is new or used;
15) A statement of whether the project is
				located in an enterprise zone;
16)
				Information relating to the project site, its size, access roads, railroad
				access and utilities;
17) Site
				improvements existing on the land (e.g., parking lots, driveways,
				landscaping);
18) A statement of
				the United States Congressional, Illinois House of Representatives, and
				Illinois Senate Districts in which the project is located;
19) A description of the buildings existing
				and to be built and their intended uses;
20) The amount of the proposed
				financing;
21) A summary of project
				costs including:
A) a breakdown of project
				expenditures, the total costs of project elements, and the sources of funds for
				payment of such costs including sources other than bond proceeds; and
B) evidence of construction and/or renovation
				cost estimates provided by an architect, contractor or engineer, which may be
				in the form of a letter from the estimator;
22) A description of sources and amounts of
				working capital available to the borrower, including lines of credit;
23) An identification of the proposed bond
				purchaser or purchasers, the interest rate and term of the bonds, and a copy of
				the letter of intent or commitment letter from such purchaser, which letter
				must be addressed to the borrower;
24) A statement of whether the bonds will be
				publicly sold or privately placed;
25) A statement of whether guarantees or
				other forms of credit enhancement, such as letters of credit, fund escrows or
				debt reserve with respect to payment of the bonds, will be part of the
				transaction;
26) For commercial
				projects, a statement of whether the project is located in a tax increment
				financing district, slum or blighted area as defined in Section 3(i) of the
				Urban Renewal Consolidation Act of 1961 [315 ILCS
				30/3(i) ], commercial district or
				targeted redevelopment area (an area designated by local authorities and to
				which local authorities or other persons have committed funds to redevelop that
				area, to include, but not be limited to, enterprise zones, TIF districts and
				slum and blighted areas);
27) For
				environmental projects, copies of orders, complaints, decrees and other
				official action to which the project is a response;
28) Information on current or projected
				employment for the two years subsequent to completion of the project, and, for
				commercial projects, a listing of the proposed tenants, lease type, rental
				amounts, areas rented and the term of the leases;
29) An estimate of the number of construction
				jobs to be created as a result of the project;
30) A statement as to the effect of the
				project on the community, including such examples as increased traffic,
				generation of retail sales and real estate taxes, environmental effect,
				employment opportunities and quality of life;
31) A statement as to the economic
				feasibility or marketing analysis for the project;
32) The names, addresses and telephone
				numbers of the borrower's general counsel, bond counsel, accountant, and
				consultant, if any;
33) The name
				and address of the municipality or other unit of government that exercises
				planning and subdivision control over the project site. See Section
				1100.206.
34) A certification by the borrower that the
				site for the project is not located in a special flood hazard area as
				designated by the Illinois Department of Natural Resources, Division of
				Waterways, and that the borrower has made an investigation which determined
				that it is not in such an area. The borrower must also certify that all
				information in the application is true to the best knowledge and belief of the
				borrower.