Business Development Public Infrastructure Program
The Illinois Department of Commerce & Economic Opportunity (DCEO) administers the Business Development Public Infrastructure Program. Lake County Partners can help facilitate applications.
| Program Details |
| Purpose: |
To help local units of government to provide infrastructure assistance to expanding or relocating businesses. |
| Program Description: |
Provides low-interest loans and grants to units of local government for public improvements on behalf of businesses undertaking expansion or relocation projects. These infrastructure improvements include: local roads and streets, access roads, bridges, sidewalks, waste disposal systems, water and sewer line extensions, water distribution and purification facilities, sewage treatment facilities, rail and air or water port improvements, gas and electric utility extensions, public transit systems, and the development and improvement of publicly owned industrial and commercial sites. |
| Eligibility: |
Any general-purpose local government (as defined by Article 7, Section 1 of the Illinois Constitution) may apply to the department for funding under the Business Development Public Infrastructure Program. |
| Ineligible Projects: |
Funding is available only for infrastructure projects which lead directly to private sector expansion or retention activities. General infrastructure construction and renovation activities -- those that lead only indirectly to job creation and retention -- are not eligible for consideration. |
| Grant/Loan Amount: |
There is no maximum amount of Department funds, which may be invested in any one project. Typically, the department will limit its assistance to $500,000 or less. |
| Loan Term: |
10 years (up to 20 will be considered in extenuating circumstances). |
| Loan Rate: |
Fixed, low or no interest rate. |
| Fees: |
Not applicable. |
| Application Process: |
All applications should be submitted to the program manager. The review and evaluation process will be completed in 45 days. For assistance with the application process, contact Bill Whitmer, Vice President of Economic Development, Lake County Partners at (847) 247-0137 or wwhitmer@lakecountypartners.com. |
| Job Criteria: |
A least one private sector job should be created or retained for every $10,000 awarded by the department. |
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