Section 365.410  Project Priority Determination

a)         Financial assistance from the WPCLP will be provided for projects on the Project Priority List developed by the Agency pursuant to 35 Ill. Adm. Code 366.

b)         The Project Priority List sets out the priority for receipt of loans for each loan applicant.  Priorities will be established in accordance with 35 Ill. Adm. Code 366  after the receipt by the Agency of both loan pre-applications pursuant to Section 365.420 (Pre-Applications for Financial Assistance and Identification of Projects to be Funded) of this Part and approved Facilities Planning pursuant to Section 365.520 (Loan Applicant's Responsibilities During Facilities Planning) and Section 365.530 (State Environmental Review) of this Part.  For projects represented by loan pre-applications only, the Agency will provide limited priority scoring for inclusion of the project on the Project Priority List.

c)         Projects included on the Intended Use Plan will be selected from projects on the Project Priority List in priority order, provided the project has an approved facilities plan and is scheduled to initiate construction by March 31 of the subsequent federal fiscal year.

d)        Cash Flow Demand Funding

The available funds for a project may be decreased by the Agency to reflect the amount of funds needed to meet cash flow demands for that project during the current funding cycle or to accommodate the funding constraints of the WPCLP. Projects that receive adjustments to meet cash flow demands or to accommodate the funding constraints of the WPCLP may be afforded an opportunity for additional funding in future funding cycles as funds become available under the terms and interest rate available in that funding cycle.

(Source:  Amended at 34 Ill. Reg. 17582, effective November 8, 2010)