Determination of Amount and Term of the Reimbursement Grant

Section 1740.60 Determination of Amount and Term of the Reimbursement Grant The Department shall determine the maximum amount of the reimbursement awarded under the Act.  In determining the amount of the reimbursement that should be awarded, the Department may take into consideration the following factors, based on agency site remediation program records, including but not limited to: a)         Reimbursement applies only to remediation costs incurred after the Department's  written approval of the application. b)         Reimbursement shall be greater than or equal to a minimum capital investment as determined by the Department from information documented by the r emediation applicant in its application . c)         Reimbursement cannot exceed 20% of the aggregate capital investment, as determined by the Department from information documented by the r emediation applicant in its application. d)        Reimbursement cannot exceed the net economic benefit to the State, as determined by the Department from information documented by the r emediation applicant in its application . e)         Reimbursement applies only to the costs incurred to remediate the site, not to exceed a total of $750,000.  (Note:  Remediation costs are to be documented to the satisfaction of the Agency through an IEPA final Assessment of Remediation Costs.)