reglab/statecodes huggingface dataset:
Illinois Administrative Code › Title 14 - COMMERCE › Part 610 - PUBLIC INFRASTRUCTURE LOAN AND GRANT PROGRAMS › Subpart B - AFFORDABLE FINANCING OF PUBLIC INFRASTRUCTURE LOAN AND GRANT PROGRAM › Section 610.200 - Definitions

Current through Register Vol. 48, No. 28, July 12, 2024
"Affordable Financing" shall mean access to a financing rate
				  equivalent to that of an "A" rated borrower.
"Application" shall mean a request for program funds
				  including the required forms and attachments.
"Department" shall mean the Illinois Department of Commerce
				  and Community Affairs.
"Grant" shall mean funds which require no repayment to be
				  used by a qualified applicant.
"Local Government" shall mean any unit of local government as
				  defined in Article VII, Section 1 of the 1970 Illinois Constitution.
"Local Public Entity" shall mean any entity as defined by
				  Section 1-206 of the Local Governmental and Governmental Employees Tort
				  Immunity Act [745 ILCS 10/1-206 ].
"Medical Facility" shall include a hospital, infirmary,
				  clinic, dispensary, mental institution or similar facility.
"Public Health Clinic" means an outpatient clinic conducted
				  by a locally based not-for-profit corporation, or by any local board of health
				  whose health department is recognized by, and has a designation status
				  established by, the Illinois Department of Public Health.
"Public Infrastructure," for the purposes of the Affordable
				  Financing of Public Infrastructure Loan and Grant Program, shall mean capital
				  acquisitions, construction, and improvements to other local facilities and
				  sites, and associated permanent furnishings and equipment that are a necessary
				  precondition for projects necessary to further the development potential of the
				  community.
"Qualified Applicants," for the purpose of the Affordable
				  Financing of Public Infrastructure Loan and Grant Program, shall mean local
				  governments, local public entities, medical facilities, and public health
				  clinics.
"Resource Leveraging" shall mean a financial contribution
				  which includes other sources of private and public financing (e.g., Economic
				  Development Administration, Environmental Protection Agency, Farmers Home
				  Administration). Costs incurred prior to the date of grant award will not be
				  considered as resource leveraging.
Illinois Administrative Code › Title 14 - COMMERCE › Part 610 - PUBLIC INFRASTRUCTURE LOAN AND GRANT PROGRAMS › Subpart B - AFFORDABLE FINANCING OF PUBLIC INFRASTRUCTURE LOAN AND GRANT PROGRAM › Section 610.300 - Cooperative Agreements with State Intermediaries

Current through Register Vol. 48, No. 28, July 12, 2024
a) The Department is authorized to enter into
				cooperative agreements with other State government public infrastructure
				financing entities for the purpose of reliance upon their application, credit
				review, security, and loan closing procedures for individual small project
				loans. [30
				ILCS 750/8-10(b) ] Small Project
				Affordable Financing of Public Infrastructure loans may be provided under the
				following conditions:
1) As the sole
				financing source when the Department has determined that no other affordable
				financing source is available for projectsthat are necessary to local community
				health, safety and economic development; or
2) As partial project financing in
				satisfaction of other financing source match requirements, to finance
				feasibility study and other project development costs necessary to accessing
				other financing, and to otherwise service financing gaps necessary to project
				feasibility. [30
				ILCS 750/8-10(b) ]
Illinois Administrative Code › Title 14 - COMMERCE › Part 610 - PUBLIC INFRASTRUCTURE LOAN AND GRANT PROGRAMS › Subpart B - AFFORDABLE FINANCING OF PUBLIC INFRASTRUCTURE LOAN AND GRANT PROGRAM › Section 610.400 - Direct Grants and Loans

Current through Register Vol. 48, No. 28, July 12, 2024
a) The
				Department is authorized to provide small project affordable financing of
				public infrastructure grants and loans to local governments, local public
				entities, local medical facilities, and public health clinics of up to 25% of
				the project costs where the Department has determined that affordable financing
				is available for the balance of the project cost, but not for the amount to be
				subject to the small project affordable financing of public infrastructure
				grant or loan. No small project grant or loan shall exceed $100,000.
				[30
				ILCS 750/8-10(d) ]
b) The Department is authorized to make small
				project loans which may not exceed $100,000 in principal. The repayment period
				for small project loans shall not exceed 10 years.
Illinois Administrative Code › Title 14 - COMMERCE › Part 610 - PUBLIC INFRASTRUCTURE LOAN AND GRANT PROGRAMS › Subpart B - AFFORDABLE FINANCING OF PUBLIC INFRASTRUCTURE LOAN AND GRANT PROGRAM › Section 610.500 - Application Cycle and Criteria for Grants and Loans

Current through Register Vol. 48, No. 28, July 12, 2024
a) Application Availability
1) Applications for direct grant and loan
				assistance from the Department will be openly available if sufficient monies
				are allocated for the program. Upon request, the Department will supply
				potential applicants with an application package if sufficient monies are
				allocated for the program.
2)
				Qualified applicants may apply for grant and loan assistance under this
				program. Such applicants must submit an application on forms provided by the
				Department. A standard application form will be used statewide.
Illinois Administrative Code › Title 14 - COMMERCE › Part 610 - PUBLIC INFRASTRUCTURE LOAN AND GRANT PROGRAMS › Subpart B - AFFORDABLE FINANCING OF PUBLIC INFRASTRUCTURE LOAN AND GRANT PROGRAM › Section 610.600 - Evaluation Process

Current through Register Vol. 48, No. 28, July 12, 2024
a)
				Department staff will screen all applications to determine that all application
				requirements of the direct loan and grant application package have been
				addressed. Applications will be reviewed in accordance with Department review
				criteria listed in subsection (b) below.
b) A request for grant and loan assistance
				will be evaluated in accordance with the requirements of this Part. The review
				and evaluation of applications will take no more than 45 working days after the
				Department's receipt of a completed application, with financial assistance
				awards being announced at the end of that period.
1) Applications that address economic
				development will be evaluated on the basis of:
A) The extent of economic need to be
				addressed by the project;
B) Time
				schedule for project initiation, etc., indicating the level of project
				readiness;
C) The merits of the
				proposed work plan and consistency of proposed activities with requirements of
				the Act;
D) The level of economic
				development results expected (e.g., jobs created or retained, private funds
				leveraged, etc., or other significant development benefits or impacts);
				and
E) The financial capability of
				the applicant to finance the infrastructure improvements from other
				sources.
Illinois Administrative Code › Title 14 - COMMERCE › Part 610 - PUBLIC INFRASTRUCTURE LOAN AND GRANT PROGRAMS › Subpart B - AFFORDABLE FINANCING OF PUBLIC INFRASTRUCTURE LOAN AND GRANT PROGRAM › Section 610.700 - Selection for Funding for Direct Grants and Loans

Current through Register Vol. 48, No. 28, July 12, 2024
Department staff will conduct an evaluation of each
				  application submitted. Applicants that best meet the objectives of the Act
				  through satisfaction of the evaluation criteria specified in Section
				  610.600 will
				  be funded until all available grant or loan financing is expended. The amount
				  of grant or loan financing made available by the Department will be based upon
				  the extent to which the applicant provides evidence of economic development
				  benefit to the community or reduces a threat to public health or
				  safety.
Illinois Administrative Code › Title 14 - COMMERCE › Part 610 - PUBLIC INFRASTRUCTURE LOAN AND GRANT PROGRAMS › Subpart B - AFFORDABLE FINANCING OF PUBLIC INFRASTRUCTURE LOAN AND GRANT PROGRAM › Section 610.800 - Funding Limitations

Current through Register Vol. 48, No. 28, July 12, 2024
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.
Illinois Administrative Code › Title 14 - COMMERCE › Part 610 - PUBLIC INFRASTRUCTURE LOAN AND GRANT PROGRAMS › Subpart B - AFFORDABLE FINANCING OF PUBLIC INFRASTRUCTURE LOAN AND GRANT PROGRAM › Section 610.900 - Administrative Requirements

Current through Register Vol. 48, No. 28, July 12, 2024
Affordable Financing of Public Infrastructure grants and
				  loans awarded by the Department are subject to the following conditions:
a) Direct financial assistance through the
				loans or grants must be used for the purposes specified in Section 8-10 of the
				Act.
b) On Affordable Financing of
				Public Infrastructure loans, the Department shall determine the interest rate,
				if any, that the loans shall bear. The Department shall set the terms and
				conditions for repayment of the loans. The repayment period of loans shall not
				exceed 20 years except for the small project loans specified in Section
				610.300(c),
				which shall not exceed 10 years.
c)
				Repayments of principal and interest on loans made and any funds collected
				because of a default or failure to comply with the terms or conditions of a
				loan under this program shall be paid into the Public Infrastructure
				Construction Loan Revolving Fund.
d) The Department may take whatever actions
				are necessary or appropriate to protect the State's interest in the event of a
				default, foreclosure or noncompliance with the terms and conditions of the
				loans or grants provided under this Act, including the power to sell, dispose,
				lease, or rent, upon terms and conditions deemed to be appropriate by the
				Department, real or personal property that the Department may receive as a
				result thereof.
Illinois Administrative Code › Title 14 - COMMERCE › Part 615 - STATE-DESIGNATED CULTURAL DISTRICTS › Section 615.10 - Purpose

Current through Register Vol. 48, No. 28, July 12, 2024
The purpose of State Designated Cultural District Designations
				is to
:
encourage economic development and
				entrepreneurship;
encourage the preservation and development of historic
				and culturally significant structures, traditions, and
				languages;
foster local cultural development and
				education;
provide a focal point for celebrating and strengthening
				the unique cultural identity of the community; and
promote growth and opportunity without generating
				displacement or expanding inequality.
[20 ILCS
				605/605-1057(a)(6)
				]
Illinois Administrative Code › Title 14 - COMMERCE › Part 615 - STATE-DESIGNATED CULTURAL DISTRICTS › Section 615.30 - Eligibility Requirements

Current through Register Vol. 48, No. 28, July 12, 2024
a) A
			 municipality or 501(c)(3) organization located in Illinois is eligible to
			 receive certification as a State-designated cultural district from DCEO if the
			 applicant:
1) Demonstrates the community
			 seeking certification has
been historically impacted and is currently
			 at risk of losing their cultural identity because of gentrification,
			 displacement, or the COVID-19 pandemic
;
2)
Demonstrates a history of economic
			 disinvestment
; [20 ILCS
			 605/605-1057(c)(2) ]; and
3) Demonstrates
strong community
			 support for the cultural district designation through active and formal
			 participation by community organizations and municipal and regional government
			 agencies or officials.
Illinois Administrative Code › Title 14 - COMMERCE › Part 615 - STATE-DESIGNATED CULTURAL DISTRICTS › Section 615.40 - Administrative Requirements

Current through Register Vol. 48, No. 28, July 12, 2024
State cultural district designation awards will be administered
				in a manner that complies with all State and federal requirements applicable to
				state funding opportunities including, but not limited to, GATA, the Uniform
				Guidance and all applicable State or federal laws or rules. Applicants and
				Designee's shall review all application materials and designation award
				documents, which will include the specific applicable requirements for the
				opportunity, on the Department's website.
a) Application Process
1) DCEO will post one or more Notices of
			 Designation Opportunity (NODO) on the GATA Grantee Portal (
https://grants.illinois.gov/portal/
)
			 seeking applications from eligible entities contingent upon availability of
			 designations. Applicants shall submit their application materials by the
			 deadlines set by DCEO in the NODO, which will be at least 30 days after the
			 NODO posting.
2) As part of the
			 application, applicants shall provide the following information about the
			 geographic area:
A) a detailed description of
			 the defined geographic boundaries, outlined with a map image;
B) a discussion of the characteristics of a
			 distinct, historic, and cultural identity of the geographic area;
C) a detailed statement of need describing
			 the risk of losing the community's cultural identity because of the impact of
			 gentrification, displacement, or the COVID-19 pandemic;
D) a narrative statement using supporting
			 data that demonstrates property value increases, job loss, population loss,
			 business and organizational loss and/or the negative impacts of the COVID-19
			 pandemic;
E) a detailed narrative
			 description of historic economic disinvestment in the community, using
			 supporting data that outlines the impact of inequities from a lack of resources
			 and investment;
F) a detailed
			 description demonstrating the applicant has the organizational capacity to
			 carry out plans, apply for and manage grants, and dedicate personnel to the
			 State cultural district;
G)
			 demonstration of strong community support for the designation though active and
			 formal participation by local diverse stakeholders;
H) letters of support from organizations,
			 elected officials, and other stakeholders;
I) if applicable,
development plans
			 that include and prioritize the preservation of local businesses and retention
			 of existing residents and businesses
; and
J) if applicable,
demonstration that
			 the community has an education framework in place informed with a vision of
			 food justice, social justice, community sustainability, and social
			 equity
. [20 ILCS
			 605/605-1057(c)(2) ]
3) The applicant is responsible
			 for the accuracy of all data, information and documentation. Once submitted,
			 applications shall become the property of the Department.
Illinois Administrative Code › Title 14 - COMMERCE › Part 615 - STATE-DESIGNATED CULTURAL DISTRICTS › Section 615.50 - Term and Termination

Current through Register Vol. 48, No. 28, July 12, 2024
a)
Certification as a State-designated cultural district shall be for an
			 initial period of 10 years, after which the district may submit an application
			 for renewal every five years.
The Department maintains discretion not
			 to renew a State-designated cultural district's designation based on evaluation
			 of their renewal application, or other factors including, but not limited to,
			 failure to use the original designation, failure to execute plans, and failure
			 to submit timely reports. [20 ILCS
			 605/605-1057(c) ]
b)
The Department shall award no more
			 than five State-designated cultural districts each year. At no point shall the
			 total amount of State-designated cultural districts be more than 15.
[20 ILCS
			 605/605-1057(e) ]
c) The entity applying for certification is
			 responsible for all reporting requirements.
Any State-designated
			 cultural district that fails to file a report for 2 consecutive years shall
			 have their status as a State-designated cultural district terminated.
[20 ILCS
			 605/605-1057(f) ]
Illinois Administrative Code › Title 14 - COMMERCE › Part 615 - STATE-DESIGNATED CULTURAL DISTRICTS › Section 615.60 - Reporting Requirements

Current through Register Vol. 48, No. 28, July 12, 2024
a)
Within 12 months after being designated a cultural district, the
			 State-designated cultural district shall submit a report to the Department
			 detailing its current programs and goals for the next 4 years of its
			 designation.
[20 ILCS
			 605/605-1057(f) ] The report shall
			 include:
1) Detailed development plans that
			 include and prioritize the preservation of local businesses and retention of
			 existing residents and businesses;
2) A description of an education framework in
			 place, informed with a vision of food justice, social justice, community
			 sustainability, and social equity;
3) A description of existing infrastructure
			 needs in order to expand economic opportunity for businesses and
			 residents;
4) A description and
			 data regarding affordable housing needs for existing residents and plans for
			 how those goals can be achieved;
5)
			 Development plans for transportation improvements that will help residents
			 reach employment and make the community accessible to visitors;
6) Detailed plans to address gaps in ability
			 for families to easily access affordable fruits, vegetables, and
			 produce;
7) List of opportunities
			 for cultural celebration, both for existing residents and visitors;
			 and
8) Plans to promote the
			 district and its events to visitors in traditional and digital media.
Illinois Administrative Code › Title 14 - COMMERCE › Part 620 - LABOR-MANAGEMENT PROGRAM › Section 620.10 - Purpose

Current through Register Vol. 48, No. 28, July 12, 2024
Through the Labor-Management Program (program), the Department
				of Commerce and Community Affairs (Department) shall promote positive
				labor-management relations in the State of Illinois by providing matching
				grants, grantsand other resources to establish or assist local labor-management
				committees and other projects which serve to improve labor-management relations
				(the Civil Administrative Code of Illinois) (the Act) (Ill. Rev. Stat. 1987,
				ch. 127, par. 46.32 a, as amended by P.A. 85-1385, effective September 2,
				1988). In accordance with the Act, the Department has the authority to award
				grants or matching grants in four categories. At least 60 percent of the annual
				appropriation to the Department for providing labor-management grants and
				resources shall be awarded as matching grants to existing local
				labor-management committees, up to 20 percent may be awarded as matching grants
				to developing local labor-management committees, up to 10 percent may be
				awarded as grants to develop and conduct specialized education and training
				programs and up to 10 percent may be awarded as grants for research and
				development projects. The Labor-Management Program will be administered by the
				Office of Labor-Management Cooperation within the Department.
Illinois Administrative Code › Title 14 - COMMERCE › Part 620 - LABOR-MANAGEMENT PROGRAM › Section 620.20 - Statewide Committee

Current through Register Vol. 48, No. 28, July 12, 2024
Consistent with provisions contained in Section 46.32 a of the
				Civil Administrative Code of Illinois (Act) (Ill. Rev. Stat. 1985, ch. 127,
				par. 46.32a), there shall be established a Labor-Management Cooperation
				Committee; the duties of said committee are specified in the
				Act.
Illinois Administrative Code › Title 14 - COMMERCE › Part 620 - LABOR-MANAGEMENT PROGRAM › Section 620.30 - Local Labor-Management Committee

Current through Register Vol. 48, No. 28, July 12, 2024
For the purpose of this Act, local labor-management committee
				(committee) is defined as a private sector organization created jointly by
				labor and management representatives, the purposes of which are specified in
				Section 46.32 a(b)(1)(second list of small numerals (i) through (v)) of "AN ACT
				in relation to labor relations and workers' compensation, amending certain Acts
				herein named" (P.A. 85-1385, effective September 2, 1988). The labor and
				management members of the committee jointly determine and carry out a work
				program to improve labor-management relations in their service area and to
				maintain and increase their community's competitiveness within the local,
				state, national and world economies.
Illinois Administrative Code › Title 14 - COMMERCE › Part 620 - LABOR-MANAGEMENT PROGRAM › Section 620.40 - Eligible Applicants

Current through Register Vol. 48, No. 28, July 12, 2024
The grant application has been divided into four separate
				categories. Separate eligibility criteria have been established for each of the
				four grant categories established in the Act as follows:
a) To be eligible for matching grants under
			 Category I, Matching Grants to Existing Local Labor-Management Committees,
			 local labor-management committees must meet the eligibility criteria specified
			 in Section 46.32 a(b)(1) (first list of small numerals (i) through (vii)) of
			 "AN ACT in relation to labor relations and workers' compensation, amending
			 certain Acts herein named" (P.A. 85-1385, effective September 2, 1988).
			 However, no funds will be awarded to local labor-management committees under
			 the following circumstances:
1) no assistance
			 can be given for plant labor-management committees unless the employees in that
			 plant are represented by a labor organization and there is in effect at that
			 plant a collective bargaining agreement;
2) no assistance can be given for an area,
			 public sector or industry-wide labor-management committee unless its
			 participants include any labor organizations certified or recognized as the
			 representative of employees of an employer participating in such a committee.
			 However, employers whose employees are not represented by a labor organization
			 may participate on such area or industry-wide committees; and,
3) no assistance can be given to any
			 committee which interferes with the collective bargaining activities in any
			 plant or industry.
Illinois Administrative Code › Title 14 - COMMERCE › Part 620 - LABOR-MANAGEMENT PROGRAM › Section 620.50 - Application Cycle

Current through Register Vol. 48, No. 28, July 12, 2024
Applications under the program will be accepted on an ongoing
				basis. The availability of funds under the program will be advertised in the
				official state newspaper, and the Department will supply an application package
				to interested parties upon request. Applications will be reviewed as received,
				and grants awarded until program funds are exhausted. The original application
				should be accompanied by two copies and submitted to the Department's Office of
				Labor - Management Cooperation, 620 East Adams Street, Springfield, Illinois,
				62701. The Department with the advice of the Labor - Management Cooperation
				Committee, will develop and prioritize annually the type and scope of the
				education and training projects (Category III) and research and development
				projects (Category IV) by means of telephone surveys and requests for services
				or information received from local labor-management
				organizations.
Illinois Administrative Code › Title 14 - COMMERCE › Part 620 - LABOR-MANAGEMENT PROGRAM › Section 620.60 - Application Requirements

Current through Register Vol. 48, No. 28, July 12, 2024
a) The
			 application for funding under Category I, Matching Grants to Existing Local
			 Labor - Management Committees, must include the following information:
1) Eligibility Certification
A) a description of the structure of the
			 organization (e.g., not-for-profit, incorporated, etc.), including any articles
			 of incorporation, not-for-profit certification and/or current
			 by-laws.
B) the specific geographic
			 area served by the organization.
C)
			 a list of the board members and their affiliation, including current letters of
			 commitment from all committee participants and chairpersons.
D) the name(s), title(s) and job
			 description(s) for all full-time and/or part-time committee staff.
E) a summary of the committee, including its
			 formation (specifying dates), major activities and past funding.
F) a list of the name(s) and a summary of the
			 nature of the committee's affiliation with other local, state or federal
			 organizations.
Illinois Administrative Code › Title 14 - COMMERCE › Part 620 - LABOR-MANAGEMENT PROGRAM › Section 620.70 - Application Evaluation

Current through Register Vol. 48, No. 28, July 12, 2024
a) The
			 Department shall screen all applications to determine that all requirements of
			 the application package have been addressed. Complete applications will be
			 reviewed and evaluated by Department staff. This review and evaluation process
			 will be completed within 45 days after receipt of the application package by
			 the Department.
b) Upon receipt of
			 a completed application for a grant or matching grant, the Director of the
			 Department of Commerce and Community Affairs (Director) will provide copies of
			 the application to the Labor-Management Cooperation Committee for its review
			 and comment.
Illinois Administrative Code › Title 14 - COMMERCE › Part 620 - LABOR-MANAGEMENT PROGRAM › Section 620.80 - Selection for Funding

Current through Register Vol. 48, No. 28, July 12, 2024
a) The
			 Department will consider funding any application which provides all
			 documentation requested; thoroughly addresses all issues with no major problems
			 evident; clearly evidences a need for the public funding; clearly demonstrates
			 a project implementation readiness; and, has demonstrated a positive impact on
			 labor-management relations.
b)
			 Selection Criteria
The Department's selection criteria will include the
				following:
1) the extent to which the
			 application has clearly identified the problems and justified the needs that
			 the proposed project will address;
2) the feasibility of the approach proposed
			 to attain the goals and objectives of the project and the perceived likelihood
			 of accomplishing the intended project results;
3) the appropriateness of committee
			 membership, if applicable, and the degree of commitment of participating
			 individuals to the goals of the application;
4) the feasibility and thoroughness of the
			 implementation plan in specifying major milestones and target dates;
5) the cost effectiveness and fiscal
			 soundness of the application's budget request as well as identification of the
			 amounts and sources of the local match; and,
6) the overall feasibility of the proposed
			 project in light of all of the information presented for consideration and
			 quality of the application.
Illinois Administrative Code › Title 14 - COMMERCE › Part 620 - LABOR-MANAGEMENT PROGRAM › Section 620.90 - Administrative Requirements

Current through Register Vol. 48, No. 28, July 12, 2024
a)
			 Matching Grant Limitations
1) Matching grants
			 under Category I, Existing Local Labor-Management Committees, shall not exceed
			 75% of the total operating cost of the program.
2) Matching grants under Category II,
			 Developing Local Labor-Management Committees, shall not exceed 75% of the total
			 operating cost of the program. Funding of eligible committees under this
			 category shall be limited to three years. Previous years' funding under this
			 program will be included in determining whether those committees have reached
			 their funding limit under this category.
Illinois Administrative Code › Title 14 - COMMERCE › Part 640 - RURAL DIVERSIFICATION ACT PROGRAM › Subpart A - RURAL DIVERSIFICATION LOAN PROGRAM › Section 640.5 - Incorporation by Reference

Current through Register Vol. 48, No. 28, July 12, 2024
Any incorporation by reference in this Part of standards of a
				  nationally recognized organization or association includes no new amendments or
				  editions after the date specified.
Illinois Administrative Code › Title 14 - COMMERCE › Part 640 - RURAL DIVERSIFICATION ACT PROGRAM › Subpart A - RURAL DIVERSIFICATION LOAN PROGRAM › Section 640.10 - Purpose of Loan Program

Current through Register Vol. 48, No. 28, July 12, 2024
Through the Rural Diversification Loan Program, the
				  Department of Commerce and Community Affairs will provide direct loans at
				  market or below market rate interest to rural businesses or agribusinesses for
				  the purpose of rural economic diversification, and the creation and retention
				  of jobs.
Illinois Administrative Code › Title 14 - COMMERCE › Part 640 - RURAL DIVERSIFICATION ACT PROGRAM › Subpart A - RURAL DIVERSIFICATION LOAN PROGRAM › Section 640.20 - Definitions

Current through Register Vol. 48, No. 28, July 12, 2024
"Act" - The Rural Diversification Act (Ill. Rev. Stat. 1989,
				  ch. 5, pars. 2251 et seq.).
"Application" - A request for program funds, including the
				  required statistical and narrative information and attachments.
"Department" - The Illinois Department of Commerce and
				  Community Affairs.
"Financing" - Direct loans at market or below market rate
				  interest provided to or on behalf of rural businesses or agribusinesses for
				  purposes of rural diversification.
"Program" - The Rural Diversification Loan Program.
"Recipient" - Any eligible applicant receiving funds under
				  this program.
Illinois Administrative Code › Title 14 - COMMERCE › Part 640 - RURAL DIVERSIFICATION ACT PROGRAM › Subpart A - RURAL DIVERSIFICATION LOAN PROGRAM › Section 640.30 - Eligible Projects

Current through Register Vol. 48, No. 28, July 12, 2024
Loan proceeds shall be used to support rural diversification
				  projects or agricultural diversification projects.
a) "Rural Diversification Project" means a
				specific activity undertaken to promote:
1)
				The improvement and expansion of business and industry in rural
				areas;
2) Creation of
				entrepreneurial and self-employment businesses;
3) Industry or region wide research directed
				to profit oriented uses of rural resources, and
4) Value added agricultural supply,
				production processing or reprocessing facilities or operations and shall
				include but not be limited to agricultural diversification projects (Section
				3(d) of the Act).
Illinois Administrative Code › Title 14 - COMMERCE › Part 640 - RURAL DIVERSIFICATION ACT PROGRAM › Subpart A - RURAL DIVERSIFICATION LOAN PROGRAM › Section 640.40 - Eligible Applicants

Current through Register Vol. 48, No. 28, July 12, 2024
Any Rural Business or Agribusiness operating in Illinois may
				  make application for financial assistance under the Rural Diversification Loan
				  program. Personal service businesses are not eligible to receive
				  funding.
a) Agribusiness - Any sole
				proprietorship, limited partnership, co-partnership, joint venture,
				corporation, or cooperative which operates or will operate a facility located
				within the State of Illinois that is related to the:
1) Processing of agricultural commodities
				or
2) The manufacturing, production
				or construction of agricultural buildings, structures, equipment implements or
				supplies, or any other facilities or processes used in agricultural production
				(Section 2(i) of the Illinois Farm Development Act (Ill. Rev. Stat. 1989, ch.
				5, par. 1202)).
Illinois Administrative Code › Title 14 - COMMERCE › Part 640 - RURAL DIVERSIFICATION ACT PROGRAM › Subpart A - RURAL DIVERSIFICATION LOAN PROGRAM › Section 640.50 - Eligible Uses of Loan

Current through Register Vol. 48, No. 28, July 12, 2024
Financing to or on behalf of rural businesses or
				  agribusinesses in the State shall be for the purpose of assisting in the cost
				  of agricultural or rural diversification projects including costs of:
a) Acquisition, construction, reconstruction,
				replacement, repair, rehabilitation, alteration, expansion or extension of real
				property, buildings or machinery and equipment but not the acquisition of
				unimproved land for the production of crops or livestock;
b) Working capital items including, but not
				limited to, inventory, accounts receivable, and prepaid expenses (but not debt
				refinancing or contingency funding;)
c) Organizational expenses including, but not
				limited to, architectural and engineering costs, legal services, marketing
				analyses, production analyses, or other professional services;
d) Needed leasehold improvements, easements,
				and other amenities required to prepare a site (Section 5(a) of the
				Act).
Illinois Administrative Code › Title 14 - COMMERCE › Part 640 - RURAL DIVERSIFICATION ACT PROGRAM › Subpart A - RURAL DIVERSIFICATION LOAN PROGRAM › Section 640.60 - Fund Availability and Submission Deadlines

Current through Register Vol. 48, No. 28, July 12, 2024
a) Availability of funding will be published
				in the State-recognized newspaper. Upon request, the Department will supply
				applicants with an application package.
b) Applications for funding under the Rural
				Diversification Loan Program will be accepted on an ongoing basis as long as
				funding is available.
Illinois Administrative Code › Title 14 - COMMERCE › Part 640 - RURAL DIVERSIFICATION ACT PROGRAM › Subpart A - RURAL DIVERSIFICATION LOAN PROGRAM › Section 640.70 - Loan Application Package

Current through Register Vol. 48, No. 28, July 12, 2024
Applications for loans must include the following
				  documentation as appropriate:
a)
				Agricultural or Rural Diversification Project Description - A summary
				description of the project including a description of what the company plans to
				do with the proceeds of the loan.
b) Need for Funds - A statement and proof
				(justification) of a need for State supported low-interest, long term funds as
				evidenced by rate of return, inadequate private market financing, inability to
				acquire financing from other state authorities or agencies, interstate
				competition of facilities, or other similar evidence of essential need for
				public financing (Section 6(b)(i) of the Act).
c) Project Impact and Employment Projections
				- A statement documenting an increase or potential increase in taxes or
				employment, a potential to retain existing jobs, or a potential improvement in
				the diversification of the rural economy or job market in relation to the
				financing requested (Section 6(b)(iii) of the Act).
d) Company History - A brief history of the
				applicant, past employment growth, and other facts detailing the past and
				present condition and structure of the company, as well as identification of
				the common name of the company if different from the legal name.
1) Subsidiaries and Parents - Name and
				identification of the relationship to parent companies, subsidiaries, or
				affiliates.
2) Articles of
				Incorporation - Copy of the articles of incorporation and bylaws or partnership
				agreement, as appropriate.
Illinois Administrative Code › Title 14 - COMMERCE › Part 640 - RURAL DIVERSIFICATION ACT PROGRAM › Subpart A - RURAL DIVERSIFICATION LOAN PROGRAM › Section 640.80 - Committee Review of Loan Applications

Current through Register Vol. 48, No. 28, July 12, 2024
a) Confidentiality - Any document, materials
				or data made or received by any member, agent, or employee of the Department,
				to the extent that such material or data consist of trade secrets or commercial
				or financial information regarding the operation of any business conducted by a
				beneficiary or recipient of any form of assistance which the Department is
				empowered to render under this Act, or regarding the competitive position of
				such entity in a particular field of endeavor, is confidential and shall not be
				deemed public records, provided that information relating to the ownership of
				such recipient or beneficiary is not to be exempt under this Section from
				public disclosure requirements (Section 9 of the Act).
b) Application Screening - The Department
				shall screen all loan applications to determine that all requirements of the
				application package have been addressed. Applicants will be notified of
				deficiencies in applications and given the opportunity to correct such
				deficiencies through resubmission. Complete applications will be reviewed and
				evaluated by Department staff and review committee. The review and evaluation
				process will be completed within forty-five (45) working days after the receipt
				of application.
c) The Department
				shall establish an internal review committee with the Director of the Rural
				Affairs Council, or his designee, the Director of the Department of
				Agriculture, or his designee, and the Director of the Illinois Farm Development
				Authority, or his designee, as members to assist in the review of all project
				applications (Section 5(c) of the Act).
d) At the discretion of the Department, the
				"Internal Review Committee" will meet to review applications and recommend
				applications for Department loan consideration. The Committee's determination
				shall be based upon analysis of the operating history of the applicant, the
				project's readiness and additional similar information as determined by the
				Committee in accordance with subsections (e) and (f) of this Section.
e) The applicant must demonstrate a
				meaningful operating history through documentation including:
1) Company history - history of company
				growth through the analysis of facts provided by the applicant detailing the
				company's past and present condition and structure;
2) Market information - information provided
				by the applicant detailing the existence of the company's present and future
				market prospects and existing and potential customers;
3) Management qualifications - the background
				and experience of those in management and at least 20% ownership positions of
				the applicant company at the project site to determine qualification to
				administer the project.
Illinois Administrative Code › Title 14 - COMMERCE › Part 640 - RURAL DIVERSIFICATION ACT PROGRAM › Subpart A - RURAL DIVERSIFICATION LOAN PROGRAM › Section 640.90 - Department Technical Review

Current through Register Vol. 48, No. 28, July 12, 2024
Each application will be reviewed by the Department to assure
				  compliance with the technical program requirements as specified in subsections
				  (a) through (d) of this Section.
a)
				Loan Project Type - The application will be evaluated to assure that:
1) the loan project meets the requirements
				for a Rural Diversification Project or an Agricultural Diversification Project
				as defined in Section
				640.30 of this
				Part;
2) the entity meets the
				conditions outlined as an eligible loan applicant as contained in Section
				640.40 of
				this Part;
3) that the rural
				business or agribusiness costs being funded are allowable expenses as defined
				in Section
				640.50 of
				this Part; and
4) that applicant
				certifications in accordance with Section
				640.130
				of this Part have been signed.
Illinois Administrative Code › Title 14 - COMMERCE › Part 640 - RURAL DIVERSIFICATION ACT PROGRAM › Subpart A - RURAL DIVERSIFICATION LOAN PROGRAM › Section 640.100 - Selection for Financing

Current through Register Vol. 48, No. 28, July 12, 2024
Applicants that best meet the objectives of the Act through
				  satisfaction of the evaluation criteria of Sections
				  640.80
				  and
				  640.90
				  will be funded until all available loan financing is expended. The amount of
				  loan financing made available by the Department will be based upon the extent
				  to which the applicant provides evidence of economic benefit to the community.
				  Economic benefit evidence includes:
a)
				evidence the loan project will diversify or increase the structure of the local
				economy with documentation of an increase or potential increase in employment
				(Section 6(b)(iii) of the Act);
b)
				identification of the amount and documentation of an increase or potential
				increase in taxes (Section 6(b)(iii) of the Act) with the types and amounts of
				increased state or local taxes expected to be generated in relation to funds
				used;
c) evidence that the loan
				project will create additional personal income for the community through a
				potential improvement in the diversification of the rural economy (Section
				6(b)(iii) of the Act) for example, the project adds new types of industries to
				the local economy, the projects' goods and/or services to be produced are to be
				sold outside the community or the final goods and/or services are to be
				produced and sold locally to substitute for those goods and/or services from
				outside the state; or
d) A
				potential to retain existing jobs (Section 6(b)(iii) of the Act), with a
				written assurance from the rural business or agribusiness which identifies the
				number of, the occupational type, and wage level of jobs to be created/retained
				in relation to funds used.
Illinois Administrative Code › Title 14 - COMMERCE › Part 640 - RURAL DIVERSIFICATION ACT PROGRAM › Subpart A - RURAL DIVERSIFICATION LOAN PROGRAM › Section 640.110 - Loan Funding Limitations

Current through Register Vol. 48, No. 28, July 12, 2024
In accordance with Section 7(c) of the Act, a waiver of
				  limitations on the percentage of leverage in accordance with Section
				  640.90(c)(2)
				  of this Part will be allowable when it is determined that this funding
				  limitation would prohibit an otherwise approved project, and subsequent rural
				  diversification from occurring if the applicant demonstrates severe need,
				  including but not limited to:
a)
				Distressed community or county with an unemployment rate which is 25 percent
				higher than the State average, or a per capita income which is less than the
				State average;
b) Area with limited
				economic development as evidenced by absence of development activities within
				the last two years or as evidenced by new job growth rate less than the state
				or national average;
c) Funding
				would support business which has provided assurance that the project will
				generate business growth and job creation in the community as a result of
				spinoff businesses, and thus evidence that the additional jobs will be created
				or retained;
d) Funding is needed
				to avert loss of a major employment source (more than 100 jobs or 2 percent of
				the local employment base) in the community;
e) Jobs to be created or retained offer wages
				substantially higher than the prevailing wage in the industry as determined by
				the Illinois Department of Labor pursuant to (Ill. Rev. Stat. 1989, ch. 48,
				pars. 39sl-s12) and Section 6-3 of the Illinois Purchasing Act (Ill. Rev. Stat.
				1989, ch. 127, par. 132.6 -3) or an annual wage higher than the State's median
				income as completed by the Department's Division of Research and Analysis, 620
				E. Adams St., Springfield, Illinois 62701, (217) 782-1438.
Illinois Administrative Code › Title 14 - COMMERCE › Part 640 - RURAL DIVERSIFICATION ACT PROGRAM › Subpart A - RURAL DIVERSIFICATION LOAN PROGRAM › Section 640.120 - Allowable Leverage

Current through Register Vol. 48, No. 28, July 12, 2024
a) Each
				rural business receiving funds under the program must leverage financial
				resources for the project over and above Department funding. Owner equity or
				other private sector equity shall be a significant part of the project. Sources
				other than public funds shall serve as the primary sources of financing for the
				project.
b) In calculating the
				Department's share, allowable leverage by the applicant may include such
				tangible contributions as:
1) Cash expended by
				the applicant (during the period of the project) derived from any source other
				than the Department including expenditure of retained earnings, use of owner
				equity, or use of proceeds of debt of the applicant, and used on
				project-eligible expenses;
2) The
				purchase price of project-related machinery and equipment leased by the company
				(for or after the start of the project) provided the company shall own, or may
				purchase for a nominal fee, the asset at the end of the lease;
3) The unutilized portion of buildings which
				are made a part of the project whose value shall be determined by taking the
				depreciated cost of the area used exclusively on the project (thus excluding
				common areas);
4) Previously
				purchased but unutilized machinery and equipment at book value provided it has
				not been in productive use in the past year but will be placed in productive
				use for the benefit of the project; and
5) Project-related machinery and equipment
				brought into the State from another state, country or territory (provided the
				first productive use in Illinois occurs after the Department's letter of
				commitment).