SPRINGFIELD – Local governments are being encouraged to apply for Rebuild Illinois funding to help them invest in public infrastructure projects and economic development programs in their communities, according to State Sen. Chuck Weaver (R-Peoria).
“The Illinois Department of Commerce and Economic Opportunity has announced that $80 million in Rebuild Illinois funding is available. We encourage local government officials to take a closer look at the opportunities available with this program,” Weaver said. “If you have any questions, please contact our Weaver Team at 309-693-4921.”
These funding opportunities include $50 million for public infrastructure. A grant ceiling of $5 million per project has been established for these grants. Grants for less than $250,000 will not be awarded. The goal of these grants is to fund infrastructure upgrades that can improve the foundation for economic growth in Illinois communities. Applications for public infrastructure grants must be submitted by June 30.
The state has also allocated $16.5 million for regional economic development. A grant ceiling of $2 million per project has been established for these grants. Grants for less than $250,000 will not be awarded. The objective of this program is to provide grants to strengthen local economies and encourage the development of regional industry clusters. The Illinois Department of Commerce and Economic Opportunity (DCEO) will accept applications for regional economic development on a rolling basis.
The state has allocated $13,000,000 in Rebuild Illinois funds to the competitive Shovel- Ready Sites component to help sites across Illinois with great economic development potential that require additional investment in order to become “shovel-ready.” A grant ceiling of $2,000,000 per project has been established. Grants for less than $250,000 will not be awarded. The purpose is to provide funding for site preparation for underutilized properties that can transform into economic development opportunities across Illinois. DCEO will accept funding applications on a rolling basis for projects that require additional investment in order to become “shovel-ready.”