Illinois Administrative Code (Last Updated: March 27, 2024) |
TITLE14. COMMERCE |
PART590. ILLINOIS LARGE BUSINESS DEVELOPMENT PROGRAM |
SUBPARTA. LOANS FOR LARGE BUSINESS DEVELOPMENT |
§590.40. Selection for Funding
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For any application which meets the criteria of Section 590.30, Department staff will then conduct a field visit evaluation to verify the information in the application, leading to the final funding decision. Applications that best meet the program objectives and demonstrate the greatest potential for job creation will receive funding support, until all available funds are expended. The field visits will analyze application characteristics, which include:
a) an assessment of the project in terms of job creation/retention, in relation to the value of the funds requested;
b) a verification of submitted application information; and
c) past performance of the applicant under previous Departmental programs, if applicable (e.g., success in previous projects and the level of compliance with previous grant agreements).