Illinois Administrative Code (Last Updated: March 27, 2024) |
TITLE14. COMMERCE |
PART590. ILLINOIS LARGE BUSINESS DEVELOPMENT PROGRAM |
SUBPARTC. GRANTS FOR INTEREST WRITE-DOWN |
§590.90. Purpose
Latest version.
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The Department shall provide grants to or for the direct benefit of a business for the sole purpose of reducing the cost of financing a project. Funds shall be used to achieve an optimum effective interest rate for the total project, in cooperation with other funding sources.
(Source: Added at 13 Ill. Reg. 2028, effective February 6, 1989)