Prioritizing Acutely Distressed Industries

Section 690.400  Prioritizing Acutely Distressed Industries a)         This Subpart F creates a program offering funding opportunities to acutely distressed industries (ADI) that meet the minimum requirements established under BIG and the CARES Act. The Department will be responsible for determining which industries shall be designated as ADI. To determine which applicants will qualify as a member of an ADI, the Department will establish and provide to its qualified partners evaluation criteria that will include, but are not limited to, the following: 1)         Intent and purpose of the enabling legislation; 2)         State and federal guidelines regarding COVID-19; 3)         Data from the Illinois Department of Public Health and other reputable sources; and 4)         Any other factors deemed necessary to reach the most impacted businesses and industries. b)         The Department will limit the amount of financial assistance available to a qualifying business under this prioritization to no more than $150,000.  A subaward under this Subpart F shall be determined based on the availability of funds and the value of eligible costs and losses incurred by the qualifying business.