Ill. Admin. Code tit. 14, § 690.40 - Qualified Partners
a) The
Department may enter into Grant Agreements, contracts, or intermediary
agreements with qualified partners to implement the Program. The nature of the
services provided by the qualified partner shall determine whether the
arrangement is a grant, procurement, or other relationship. The Department may
award grants to qualified partners to provide financial assistance to
qualifying businesses or contract with qualified partners to secure services to
implement the Program.
b) A
qualified partner shall include a non-profit agency or organization registered
to conduct business in the State of Illinois or a financial institution that
has demonstrated experience providing financing or services to businesses or
residents located in disproportionately impacted areas.
c) An agreement with a qualified partner
shall specify the qualified partner's responsibility, if any, for determining
eligibility for financial assistance and monitoring BIG participants for
compliance with Program requirements.
d) Nothing in this Part shall restrict the
Department from securing services from entities other than qualified partners
to assist in implementing the Program.
Notes
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