§610.25. Application Documentation

The application must include documentation for the business associated with the proposed project as follows:

 

a)         History of the Company – a brief history of the business and past employment.

 

b)         Market Information – information on the company's products or services and identification of existing and potential major customers and competitors.

 

c)         Projected Employment Information – the total number of jobs to be created or retained, including type of jobs, wages, and hiring schedule for job creation/retention.

 

d)         Historic Financial Statement – historic financial statements for the past three years and interim statements dated no more than ninety days prior to application including:  

 

1)         Profit and Loss Statements;

 

2)         Balance Sheets;

 

3)         Cash Flow Statements; and

 

4)         Disclosure of Contingent Liabilities.

 

e)         Projected Financial Statements – projected three-year profit and loss statements and balance sheets and a one year monthly cash flow projection.

 

f)         Company Management – listing of those individuals who are responsible for the management of the company, their positions and responsibilities, and resumes of key senior individuals at the company location.

 

g)         Ownership – the company shall provide a detailed statement of ownership which shall include the percentage of ownership of all owners of the company.  Such statements shall clearly identify any ownership interest which amounts to 20% or more, any ownership interest of individuals who have a position of control in the company, and/or any interest which is guaranteeing any financial or contractual activities of the company.  For all such entities which meet any conditions of this subsection, a financial statement shall be provided.

 

h)         The Department shall waive the requirements of subsections (a), (b), (d), (e), (f) and (g) when:

 

1)         The company has provided a comprehensive business plan or company annual reports which address all of the requirements contained in Section 8-5(g) of the Act; and

 

2)         The company is publicly owned and traded; and

 

3)         The company's historic financial condition is deemed excellent, meeting industry standards in accordance with Section 610.30(b)(2).

 

(Source:  Amended at 14 Ill. Reg. 19164, effective November 26, 1990)