Ill. Admin. Code tit. 35, § 1740.10 - Purpose
a) The Agency shall
establish and administer a revolving loan program to be known as the
"Brownfields Redevelopment Loan Program" for the purpose of providing loans to
be used for site investigation, site remediation, or both, at brownfields
sites. [415 ILCS
5/58.15(A)(a) ]
b) Prior to applying to the Agency for
payment, a remediation applicant shall first submit to the Agency its proposed
remediation costs. The Agency shall make a pre-application assessment, which is
not to be binding upon the Department of Commerce and Economic Opportunity
(formerly the Department of Commerce and Community Affairs) or upon future
review of the project, relating only to whether the Agency has adequate funding
to reimburse the applicant for the remediation costs if the applicant is found
to be eligible for reimbursement of remediation costs. If the Agency determines
that it is likely to have adequate funding to reimburse the applicant for
remediation costs, the remediation applicant may then submit to the Department
of Commerce and Economic Opportunity an application for review of eligibility.
The Department must review the eligibility application to determine whether the
remediation applicant is eligible for the payment. The application must be on
forms prescribed and provided by the Department of Commerce and Economic
Opportunity. [415 ILCS
5/58.15(B)(b) ]
Notes
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