Illinois Administrative Code › Title 74 - PUBLIC FINANCE › Part 1100 - ILLINOIS FINANCE AUTHORITY › Subpart F - LOAN PARTICIPATION PROGRAM › Section 1100.620 - Types of Educational and Cultural Facilities that Can Be Financed

Current through Register Vol. 48, No. 28, July 12, 2024
a) The Act broadly
				defines an educational facility as any property within the State, constructed
				or acquired before or after the effective date of this Act, which is suitable
				for the instruction, feeding, recreation or housing of students, the conducting
				of research or other work of a private institution of higher education, the use
				by a private institution of higher education in connection with any
				educational, research or related or incidental activities then being or to be
				conducted by it, or any combination of the foregoing.
b) The Act also provides specific examples of
				the types of educational facilities that may be financed, which are as follows:
				an academic facility, administrative facility, agricultural facility, assembly
				hall, athletic facility, auditorium, boating facility, campus, communication
				facility, computer facility, continuing education facility, classroom, dining
				hall, dormitory, exhibition hall, fire fighting facility, fire prevention
				facility, food service and preparation facility, gymnasium, greenhouse, health
				care facility, hospital, housing, instructional facility, laboratory, library,
				maintenance facility, medical facility, museum, offices, parking area, physical
				education facility, recreational facility, research facility, stadium, storage
				facility, student union, study facility, theatre or utility.
c) All of these specific examples must,
				however, fulfill one of the general educational functions quoted above. For
				example, a hospital which was not primarily a teaching hospital could not be
				financed under the Act. In addition, it should be noted that divinity school
				facilities, chapels or other facilities used for sectarian instruction, worship
				or devotional activities cannot be financed under the Act.
d) The Act broadly defines a cultural
				facility as any property located within the State constructed or acquired
				before or after the effective date of this Act which is suitable for the
				particular purposes of a cultural institution.
e) The Act also provides specific examples of
				the types of cultural facilities that may be financed, which are as follows:.
				any such property suitable for use as or in connection with any one or more of
				the following: an administrative facility, aquarium, assembly hall, auditorium,
				botanical garden, exhibition hall, gallery, greenhouse, library, museum,
				scientific laboratory, theater or zoological facility, and shall also include,
				without limitation, books, works of art or music, animal, plant or aquatic life
				or other items for display, exhibition or performance and buildings on the
				National Register of Historic Places which are owned or operated by non-profit
				entities.
f) A cultural facility
				does not include any property used or to be used for sectarian instruction or
				study or as a place for devotional activities or religious worship nor any
				property which is used or to be used primarily in connection with any part of
				the program of a school or department of divinity for any religious
				denomination.