Section 108 Loan Guarantee Application

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Section 108 Loan Guarantee Application

Cook County has applied for a $30 million loan pool known as the Broadening Urban Investment to Leverage Transportation (BUILT) in Cook Loan Fund to provide gap financing for job-creating development or business ventures. Proposed projects must be located in suburban municipalities that are members of the Cook County Urban County.

Potential project types include:

——Transit-Oriented Development (TOD) – is typically understood to be a mix of land uses including shops and services and a variety of higher-density housing types in a walkable neighborhood within walking distance of a rail station or high-frequency bus route.

——Cargo-Oriented Development (COD) – is the freight sector’s counterpart to TOD and brings industrial and logistics firms to communities with the freight rail assets to support them and the workforce to fill new jobs

—— Mixed-Use Hospitality and Service Sector Developments – mixed use office, hotel, restaurant, entertainment and retail developments are known job creators. They are much in demand given that Cook County is the foremost tourism and corporate destination in Illinois.

——Business Development Loans – Cook County’s manufacturing and service sectors are large and diverse with strengths in fabricated metal, chemicals, paper and printing, food and beverage and professional services. Loans will be made available to companies seeking to begin or expand operations in Cook County.

Potential borrowers include: