Ill. Admin. Code tit. 74 § 1100.235

Current through Register Vol. 48, No. 45, November 8, 2024

Section 1100.235 - Additional Criteria for Commercial Projects

In addition to the criteria established in Section 1100.230, in the case of commercial projects the Authority shall consider whether and to what extent any of the following conditions exists:

a) The project will be occupied in whole or in substantial part by the owner of the project who is expanding his or her business and increasing employment, or whether all or a substantial part of the project has been leased to a tenant or tenants who are expanding their businesses and increasing employment.

b) The project has special features which are designed to attract start-up companies, and the owner can demonstrate the likelihood of success for the project; for example, incubator facilities and projects which provide shared or low-cost services to small businesses.

c) The project demonstrates a likelihood of occupancy and is located in:

1) an enterprises zone;

2) a Tax Increment Financing District;

3) an officially designated slum or blighted area under State law; or

4) any other district specifically designated for economic development by the municipality in which the project is located.

d) The owner can demonstrate a reasonable expectation of increased employment from the project based upon his or her past experience in developing and leasing similar projects or upon the market for similar projects in the area.

Ill. Admin. Code tit. 74, § 1100.235

Recodified from 14 Ill. Adm. Code 1220.240 at 31 Ill. Reg. 12104