Illinois Administrative Code › Title 14 - COMMERCE › Part 500 - METROPOLITAN CIVIC CENTER SUPPORT PROGRAM › Section 500.20 - Definitions

Current through Register Vol. 48, No. 28, July 12, 2024
"Act:" means the Metropolitan Civic Center Support Act (Ill.
				Rev. Stat. 1985, ch. 85, pars. 1391 et seq.).
"Agreement:" means a signed and written document defining the
				duties and obligations of the Applicant in order to receive financial support
				from the State.
"Applicant:" means an Authority recognized by the Director as
				being created and organized prior to July 1 of a program year which submits an
				Application to the Department pursuant to this Part promulgated by the
				Department for the administration of the Metropolitan Civic Center Support
				Act.
"Application:" is that written document submitted by the
				Applicant in the approved format of the Department seeking State Financial
				Support for a Project. The following information and documentation must be
				included in an application: an economic feasibility report, an economic impact
				report, master building plan and design, documented evidence that the Authority
				has been created by a county board in accordance with Section 3 of the
				Metropolitan Civic Center Act (Ill. Rev. Stat. 1985, ch. 85, pars. 1361 et
				seq.) or by an act of the Illinois General Assembly, a financial plan, and the
				required local share of total project costs, including evidence that the local
				share was authorized at a public meeting.
"Authority:" means the Village Board of Trustees of the Village
				of Rosemont for the sole purposes of rehabilitating, developing and making
				improvements to the O'Hare Exposition Center, or any Metropolitan Exposition,
				Auditorium and Office Building Authority, Metropolitan Exposition and
				Auditorium Authority or Civic Center Authority created or hereafter created by
				a county board in accordance with Section 3 of the Metropolitan Civic Center
				Act or by an act of the Illinois General Assembly, except those created
				pursuant to the Metropolitan Fair and Exposition Authority Act (Ill. Rev. Stat.
				1985, ch. 85, pars. 1221 et seq.).
"Base Sum:" means a sum equal to the lessor of:
75% of the Total Project Costs as determined from the
				Applicant's estimate as contained in the Application; or
.0310 times the Total Assessed Valuation of all taxable
				property located within the area under the jurisdiction of the Authority for
				the year 1975 or 1983, whichever is greater, as equalized by the Illinois
				Department of Revenue in accordance with Sections 146-152 of 'AN ACT to revise
				the law in relation to the assessment of property and the levy and collection
				of taxes, and to repeal certain Acts herein named' (Ill. Rev. Stat. 1985, ch.
				120, pars. 482 et seq.)
$20,000,000.
"Certification:" means the act of the Director which determines
				that
the Applicant has been selected through the competitive
				application process (see Section
				500.70 )
				and is eligible to receive State financial support because, in the Director's
				judgment, the Applicant has satisfied the requirements of the Act and this
				Part;
adequate funding is available in the Civic Center Bond Fund or,
				if adequate funds are not available, the Director has received written
				certification from the Director of the Illinois Bureau of the Budget that the
				revenues for the last completed fiscal year paid into the MEAOB Fund equal or
				exceed 175% of the annual debt service required for previously certified
				applicants and the application(s) under consideration; and,
the total aggregate amounts of Principal certified and
				outstanding in Civic Center Bonds, other than refunded bonds, in any given time
				shall not exceed the sum of one-hundred million dollars ($100,000,000) and the
				Director has determined that Civic Center Bonds can and will be issued based
				on, but not limited to, such factors as current interest rates, revenue flow in
				the MEAOB fund.
"Civic Center Bond Fund:" means that Fund referred to in the
				Act and created in Section 5.158 of "AN ACT in relation to State Finance" (Ill.
				Rev. Stat. 1985, ch. 127, par. 141.158 ).
"Department:" means the Illinois Department of Commerce and
				Community Affairs.
"Director:" means the Director of the Illinois Department of
				Commerce and Community Affairs.
"Economic Feasibility Report:" The economic feasibility of a
				proposed Project will be established by a report submitted with and as a part
				of the Application containing evidence
that the proposed Project has been objectively analyzed in
				relation to the needs and/or the wants of the Applicant's community;
that the proposed Project responds to specific current and
				future levels of activity in the Applicant's community;
that the proposed Project will attain operating revenues
				sufficient to cover operating expenses, local debt service and reasonable
				reserves, or that by intergovernmental agreement or other satisfactory
				arrangement, operating deficits, if any, shall be funded from other available
				sources; and
that the proposed Project will accommodate the proposed set of
				activities.
The report shall cover the following areas:
Identification of the market area and population to be served
				by the proposed facility.
Analysis of current Project related activities and projections
				of those existing and new activities under consideration for the future
				proposed facility in relation to the inventory of current facilities.
Projection of the most appropriate future levels of activity to
				be served by the Project.
Conclusion as to the most appropriate facility program to allow
				current and future activities to be accommodated in an optimum
				environment.
Identification as to the specific type and size of structural
				components to meet the appropriate facility program indicated to be
				economically feasible.
Analysis of operational costs for 5 years i.e., staffing,
				maintenance and specific costs related to the activities and facilities under
				consideration.
The evaluation of economic feasibility shall include analysis
				of the fiscal operation of the proposed Project taking into account the impact
				of existing and other proposed metropolitan exposition, civic center, or other
				similar public or private facilities within the market area of the proposed
				Project.
"Economic Impact Report:" The economic impact of a proposed
				Project will be established by a report submitted with and as a part of the
				Application which includes an analysis of the primary and secondary economic
				benefits due to the influence of the proposed project upon the surrounding
				area, front-end investment for attracting other investment activities, and
				other short-term and long-term impacts. The evaluation of the economic impact
				of a project shall also include an analysis of the impact on existing and other
				proposed metropolitan exposition, civic center, or other similar public or
				private facilities within the market area of the proposed project.
"Financial Plan:" means that document submitted with and as a
				part of the Application which includes but is not limited to:
the estimated Total Project Costs;
the amount of the anticipated Base Sum;
the amount of the required Local Share and a statement of
				projected annual principal and interest costs of Local Bonds if such bonds are
				issued to provide payment for the estimated Local Share;
the amount of the required Local Share;
the amount and mechanism for funding any additional Local Share
				of the estimated Total Project Cost (if applicable); and
the sources of and procedures for obtaining the Local Shares of
				the estimated Total Project Costs.
"Local Share:" means that portion of Total Project Costs
				which
in no case shall be less than 25% of the Total Project Costs
				and must include cash or pledges available on demand for construction in an
				amount equivalent to 10% of Total Project Costs;
is provided by the Applicant and directly related to the
				application project under consideration;
is authorized at a public meeting(s); and,
is irrevocably obligated to the Project during the life of the
				State Support Agreement.
"Master Building Plan and Design" means that document submitted
				with and as a part of the Application which includes but is not limited
				to:
Description of Project Location;
Site plan including location of Project facilities on the
				site(s);
Schematic drawings and design; and
Program statement including Project description and purpose,
				spatial requirements, estimated construction schedule, and estimated cost of
				construction.
"Metropolitan Exposition, Auditorium and Office Building
				(MEAOB) Fund:" means that Fund referred to in the Act and created in Section
				5.67 of "AN ACT in relation to State Finance" (Ill. Rev. Stat. 1985, ch. 127,
				par. 141.67 ).
"Project:" means those facilities which are single or
				multi-purpose whose primary function is to provide public entertainment,
				exhibitions or conventions or to provide related parking facilities described
				in the Application, and are approved by the Department as acceptable component
				facilities for the proposed Project, and which the Applicant may purchase, own,
				construct, improve, extend, repair, reconstruct, regulate, operate, equip and
				maintain pursuant to the Applicant's rights and powers derived from Article VII
				of the 1970 Illinois Constitution and applicable statutes and ordinances.
				Office facilities may be included as an incidental rather than a primary
				function of a project. Application projects may be divided into phases by the
				Authority, but dividing the project into phases shall not imply subsequent
				approval for funding for the delayed phase(s). Each phase will be considered as
				a separate project by the Department.
"Public Hearing:" means one or more hearings held by the
				Department on the applications. Such hearings or hearings will be held in
				compliance with the Open Meetings Act (Ill. Rev. Stat. 1985, ch. 102, pars. 41
				et seq.).
"Public Meeting:" means a meeting held in compliance with the
				Open Meetings Act (Ill. Rev. Stat. 1985, ch. 102, pars. 41 et seq.).
"State:" means the State of Illinois acting through the
				Director and the Illinois Department of Commerce and Community Affairs.
"State Financial Support:" means a grant by the Department to
				an Authority with a certified application in an amount which, when added to
				interest earned by the Authority on such grant, is equal to the Base Sum. This
				grant is provided from the proceeds of Civic Center Bonds issued by the State
				pursuant to the Act.
"Total Assessed Valuation:" means the assessed valuation for
				the year 1975 or 1983, whichever is greater, as equalized by the Illinois
				Department of Revenue of all taxable property located within the area under the
				jurisdiction of the Applicant as defined in the statutes under which the
				Applicant has been created.
"Total Project Cost:" means all necessary and reasonable costs
				related to the completion of the Project, such as:
rehabilitation, construction, repair or remodeling of existing
				or new structures;
costs of survey, studies, plans and specifications, and
				professional services such as architectural, engineering, legal, financial,
				planning or related services;
property assembling costs, such as acquisition of land and
				other property, easements and privileges, or rights or interests
				therein;
demolition and site preparation;
cost of constructing site improvements, public works or
				improvements;
relocation costs to the extent that the Applicant determines
				that such costs may be paid or such costs are required by Federal, State or
				local law;
cost of fixtures, equipment which is necessary for the proper
				functioning of the facility for its intended purpose, conveyances or
				appurtenances of a capital nature;
reasonable and documented costs of administration directly
				related to the completion of construction of the Project and activities related
				thereto incurred on or after the date of the commencement of preparation of the
				Economic Feasibility Report or the retention of a planning consultant for the
				purposes of the development of the Project; and
cost of issuance of insurance and performance bonds, when
				applicable.
Total Project Cost shall not include normal administrative
				expenses of the Authority nor Operating Expenses of the completed
				facility.