Land & Building Acquisition

The Illinois Department of Commerce and Economic Opportunity is offering a grant opportunity for land and building acquisition. The goal of this program is to improve the quality of life of Illinoisans by funding costs associated with land acquisition, infrastructure improvements, construction, and/or site renovations. The successful grantee will be required to report on the expenditure of funds and the specific improvements rendered as a result of this funding. Key aspects of the project include: • The funded project must meet bondable requirements as set forth in 30 ILCS 425 The Build Illinois Bond Act. • The grantee will be required to comply with various laws and regulations, including the Prevailing Wage Act and the Illinois Works Jobs Program Act. • The grantee will be required to submit periodic performance and financial reports. • The grant agreement will specify the payment terms and the payment schedule.