Infrastructure
Programs
The following is a sample of
resources that can be utilized to fund public infrastructure
improvements to accommodate a business in Edwardsville
or Glen Carbon
Madison
County's Infrastructure Loan Program - The
Madison County Infrastructure Loan Program is designed
to help Madison County's local governments finance
public infrastructure needed to support private sector
economic development or address public health and
safety concerns. Specifically, this program provides
low-interest loans to local governments for infrastructure
projects which: (1) lead directly to private sector
investment activities that create or retain permanent
jobs for Madison County residents; or (2) effectively
address identifiable public health and safety issues
in Madison County. The amount of funds that Madison
County lends to a local government is based on the
public benefits provided by the infrastructure project
and the local government’s needs and financial
condition.
This program can be used for
the following types of public improvements: local
roads and streets, access roads, bridges, sidewalks,
water and sewer line extensions, water distribution
facilities, rail improvements, gas and electric utility
extensions, and the development or improvement of
publicly owned industrial or commercial property.
Under this program, Madison
County generally loans the funds to local governments
at a 3% interest rate for terms between 5-10 years.
The exact loan terms depend upon the fiscal capacity
of the local government.
Illinois
Business Development Public Infrastructure Program
- The Illinois Business Development Public Infrastructure
Program provides low interest loans and grants for
public improvements to local governments on behalf
of businesses with expansion or relocation projects
that meet program criteria and that demonstrate the
greatest potential in the creation and retention of
jobs. The infrastructure improvements must be made
on public property and must directly result in the
creation or retention of private-sector jobs. Funds
may be used for a wide variety of public infrastructure
improvements including streets, access roads, water
and sewer lines, and water and sewage treatment facilities.
Affordable
Financing of Public Infrastructure - The Affordable
Financing of Public Infrastructure Program provides
funds for infrastructure improvements that address
health, safety and economic development needs that
inhibit development in the state. The Affordable Financing
of Public Infrastructure Program helps local governments
finance public infrastructure needed to support economic
and community development.
Southwestern
Illinois Development Authority - A local government-financing
program has been developed by SWIDA to assist local
governments in the issuance of tax-exempt securities
primarily for infrastructure or regulatory compliance
purposes. Qualified local governments include counties,
municipalities, and special purpose taxing districts
whose objectives are to promote and enhance economic
development within their communities. Bonds may be
issued on both a pooled and a conduit basis.
Illinois
Department of Transportation's (IDOT) Economic Development
Interchange and Access Road Program - IDOT's economic
development program makes funding available for highway
improvements that will be a positive force in the
location-selection process of existing or new industrial
and commercial development. Priority consideration
for program funding to communities includes: the need
for the highway improvement and the imminence of development;
ability to leverage State construction dollars through
participation of other sources; and jobs created or
retained in Illinois.
Illinois
Department of Transportation's Rail Freight Program
- The Rail Freight Program helps to preserve and create
access to rail trackage necessary to maintain and
expand industry in Illinois. IDOT provides funding
to local governments, economic development groups,
new and existing industries, agribusinesses, and railroad
companies for rail-related projects. Specific project
funding examples range from the construction of a
rail spur to serve a local industrial park, to the
rehabilitation of existing track to serve an existing
industrial firm.
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