(30 ILCS 750/8-11)
Application Procedures for Affordable Financing of Public
Infrastructure Loans and Grants. Application
for funds shall be made in the form and manner as the Department
shall prescribe. Each application shall address, at a
minimum, the following criteria:
(a) The essential need, which must be clearly documented, for the public
infrastructure financing in order to secure a health, safety or economic
development project within the community.
(b) The applicant's financing capability and its ability to pay for, or
secure the payment of, part or all of the proposed public infrastructure
improvements, and the local government's tax effort, as shown by local tax
rates relative to other local governments of the same type in the State.
(c) Local financing mechanisms available to help
pay for the costs of the public infrastructure project,
including, but not limited to, local revenue bonds, special
service area tax proceeds, local user charges, or applicable
federal loans or grants.
(d) The proposed public infrastructure improvements,
which shall be described in detail and which shall
include a showing of their relationship to existing public
property and capital improvement plans, as well as the
pending health, safety or economic development project.
(e) Certification that the project is a health, safety or economic
development project as defined in this Article.
(Source: P.A. 88-453; 89-262, eff. 8-10-95.)