Ill. Admin. Code tit. 23, § 1035.60 - Funding Formula
a) Grants will
be determined by allocating the appropriation for this program among eligible
institutions in accordance with a formula based on the ratio of the individual
applicant institution's eligible gross square feet to the combined total of all
applicant institutions' total eligible gross square feet.
b) The eligible institutional gross square
feet used in calculating the grant amount shall be determined by the Board of
Higher Education as provided for in the definition of "eligible gross square
feet."
c) The amount listed in the
application for a grant by the institution for proposed renovation projects
should equal or exceed the grant amount determined under the formula in this
Section. If the amount for proposed renovation projects is less than the grant
amount calculated by this Section, the institution's grant will be reduced
accordingly.
Notes
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