|
|
|
09600HB1345sam002 |
- 2 - |
LRB096 08462 RLJ 27029 a |
|
|
1 |
| 11-74.4-8 of this Act, is to
be made with respect to ad valorem |
2 |
| taxes levied in the 23rd
calendar year after the year in which |
3 |
| the ordinance approving the
redevelopment project area was |
4 |
| adopted if the ordinance was adopted on or after
January 15, |
5 |
| 1981. |
6 |
| (b) The estimated dates of completion
of the redevelopment |
7 |
| project and retirement of obligations issued to finance
|
8 |
| redevelopment project costs (including refunding bonds under |
9 |
| Section 11-74.4-7) may not be later than December 31 of the |
10 |
| year in which the payment to the municipal
treasurer as |
11 |
| provided in subsection (b) of Section 11-74.4-8 of this Act is |
12 |
| to
be made with respect to ad valorem taxes levied in the 33rd |
13 |
| calendar
year after the year in which the ordinance approving |
14 |
| the
redevelopment project area was adopted, if the ordinance |
15 |
| was adopted on May 20, 1985 by the Village of Wheeling. |
16 |
| (c) The estimated dates of completion
of the redevelopment |
17 |
| project and retirement of obligations issued to finance
|
18 |
| redevelopment project costs (including refunding bonds under |
19 |
| Section 11-74.4-7) may not be later than December 31 of the |
20 |
| year in which the payment to the municipal
treasurer as |
21 |
| provided in subsection (b) of Section 11-74.4-8 of this Act is |
22 |
| to
be made with respect to ad valorem taxes levied in the 35th |
23 |
| calendar
year after the year in which the ordinance approving |
24 |
| the
redevelopment project area was adopted: |
25 |
| (1) if the ordinance was adopted before January 15, |
26 |
| 1981; |
|
|
|
09600HB1345sam002 |
- 3 - |
LRB096 08462 RLJ 27029 a |
|
|
1 |
| (2) if the ordinance was adopted in December 1983, |
2 |
| April 1984, July 1985,
or December 1989; |
3 |
| (3) if the ordinance was adopted in December 1987 and |
4 |
| the redevelopment
project is located within one mile of |
5 |
| Midway Airport; |
6 |
| (4) if the ordinance was adopted before January 1, 1987 |
7 |
| by a municipality in
Mason County; |
8 |
| (5) if the municipality is subject to the Local |
9 |
| Government Financial Planning
and Supervision Act or the |
10 |
| Financially Distressed City Law; |
11 |
| (6) if the ordinance was adopted in December 1984 by |
12 |
| the Village of Rosemont; |
13 |
| (7) if the ordinance was adopted on December 31, 1986 |
14 |
| by a municipality
located in Clinton County for which at |
15 |
| least $250,000 of tax increment
bonds were authorized on |
16 |
| June 17, 1997, or if the ordinance was adopted on
December |
17 |
| 31, 1986 by a municipality with a population in 1990 of |
18 |
| less than
3,600 that is located in a county with a |
19 |
| population in 1990 of less than
34,000 and for which at |
20 |
| least $250,000 of tax increment bonds were authorized
on |
21 |
| June 17, 1997; |
22 |
| (8) if the ordinance was adopted on October 5, 1982 by |
23 |
| the City of Kankakee, or if the ordinance was adopted on |
24 |
| December 29, 1986 by East St. Louis; |
25 |
| (9) if
the ordinance was adopted on November 12, 1991 |
26 |
| by the Village of Sauget; |
|
|
|
09600HB1345sam002 |
- 4 - |
LRB096 08462 RLJ 27029 a |
|
|
1 |
| (10) if the ordinance was
adopted on February 11, 1985 |
2 |
| by the City of Rock Island; |
3 |
| (11) if the ordinance was adopted before December 18, |
4 |
| 1986 by the City of
Moline; |
5 |
| (12) if the ordinance was adopted in September 1988 by |
6 |
| Sauk Village; |
7 |
| (13) if the ordinance was adopted in October 1993 by |
8 |
| Sauk Village; |
9 |
| (14) if the ordinance was adopted on December 29, 1986 |
10 |
| by the City of Galva; |
11 |
| (15) if the ordinance was adopted in March 1991 by the |
12 |
| City of Centreville; |
13 |
| (16) if the ordinance was adopted on January 23, 1991
|
14 |
| by the City of East St. Louis; |
15 |
| (17) if the ordinance was adopted on December 22, 1986 |
16 |
| by the City of Aledo; |
17 |
| (18) if the ordinance was adopted on February 5, 1990 |
18 |
| by the City of Clinton; |
19 |
| (19) if the ordinance was adopted on September 6, 1994 |
20 |
| by the City of Freeport; |
21 |
| (20) if the ordinance was adopted on December 22, 1986 |
22 |
| by the City of Tuscola; |
23 |
| (21) if the ordinance was adopted on December 23, 1986 |
24 |
| by the City of Sparta; |
25 |
| (22) if the ordinance was adopted on December 23, 1986 |
26 |
| by the City of
Beardstown; |
|
|
|
09600HB1345sam002 |
- 5 - |
LRB096 08462 RLJ 27029 a |
|
|
1 |
| (23) if the ordinance was adopted on April 27, 1981, |
2 |
| October 21, 1985, or
December 30, 1986 by the City of |
3 |
| Belleville; |
4 |
| (24) if the ordinance was adopted on December 29, 1986 |
5 |
| by the City of
Collinsville; |
6 |
| (25) if the ordinance was adopted on September 14, 1994 |
7 |
| by the
City of Alton; |
8 |
| (26) if the ordinance was adopted on November 11, 1996 |
9 |
| by the
City of Lexington; |
10 |
| (27) if the ordinance was adopted on November 5, 1984 |
11 |
| by
the City of LeRoy; |
12 |
| (28) if the ordinance was adopted on April 3, 1991 or
|
13 |
| June 3, 1992 by the City of Markham; |
14 |
| (29) if the ordinance was adopted on November 11, 1986 |
15 |
| by the City of Pekin; |
16 |
| (30) if the ordinance was adopted on December 15, 1981 |
17 |
| by the City of Champaign; |
18 |
| (31) if the ordinance was adopted on December 15, 1986 |
19 |
| by the City of Urbana; |
20 |
| (32) if the ordinance was adopted on December 15, 1986 |
21 |
| by the Village of Heyworth; |
22 |
| (33) if the ordinance was adopted on February 24, 1992 |
23 |
| by the Village of Heyworth; |
24 |
| (34) if the ordinance was adopted on March 16, 1995 by |
25 |
| the Village of Heyworth; |
26 |
| (35) if the ordinance was adopted on December 23, 1986 |
|
|
|
09600HB1345sam002 |
- 6 - |
LRB096 08462 RLJ 27029 a |
|
|
1 |
| by the Town of Cicero; |
2 |
| (36) if the ordinance was adopted on December 30, 1986 |
3 |
| by the City of Effingham; |
4 |
| (37) if the ordinance was adopted on May 9, 1991 by the |
5 |
| Village of
Tilton; |
6 |
| (38) if the ordinance was adopted on October 20, 1986 |
7 |
| by the City of Elmhurst; |
8 |
| (39) if the ordinance was adopted on January 19, 1988 |
9 |
| by the City of
Waukegan; |
10 |
| (40) if the ordinance was adopted on September 21, 1998 |
11 |
| by the City of
Waukegan; |
12 |
| (41) if the ordinance was adopted on December 31, 1986 |
13 |
| by the City of Sullivan; |
14 |
| (42) if the ordinance was adopted on December 23, 1991 |
15 |
| by the City of Sullivan; |
16 |
| (43) if the ordinance was adopted on December 31, 1986 |
17 |
| by the City of Oglesby; |
18 |
| (44) if the ordinance was adopted on July 28, 1987 by |
19 |
| the City of Marion; |
20 |
| (45) if the ordinance was adopted on April 23, 1990 by |
21 |
| the City of Marion; |
22 |
| (46) if the ordinance was adopted on August 20, 1985 by |
23 |
| the Village of Mount Prospect; |
24 |
| (47) if the ordinance was adopted on February 2, 1998 |
25 |
| by the Village of Woodhull; |
26 |
| (48) if the ordinance was adopted on April 20, 1993 by |
|
|
|
09600HB1345sam002 |
- 7 - |
LRB096 08462 RLJ 27029 a |
|
|
1 |
| the Village of Princeville; |
2 |
| (49) if the ordinance was adopted on July 1, 1986 by |
3 |
| the City of Granite City; |
4 |
| (50) if the ordinance was adopted on February 2, 1989 |
5 |
| by the Village of Lombard; |
6 |
| (51) if the ordinance was adopted on December 29, 1986 |
7 |
| by the Village of Gardner; |
8 |
| (52) if the ordinance was adopted on July 14, 1999 by |
9 |
| the Village of Paw Paw; |
10 |
| (53) if the ordinance was adopted on November 17, 1986 |
11 |
| by the Village of Franklin Park; |
12 |
| (54) if the ordinance was adopted on November 20, 1989 |
13 |
| by the Village of South Holland; |
14 |
| (55) if the ordinance was adopted on July 14, 1992 by |
15 |
| the Village of Riverdale; |
16 |
| (56) if the ordinance was adopted on December 29, 1986 |
17 |
| by the City of Galesburg; |
18 |
| (57) if the ordinance was adopted on April 1, 1985 by |
19 |
| the City of Galesburg; |
20 |
| (58) if the ordinance was adopted on May 21, 1990 by |
21 |
| the City of West Chicago; |
22 |
| (59) if the ordinance was adopted on December 16, 1986 |
23 |
| by the City of Oak Forest; |
24 |
| (60) if the ordinance was adopted in 1999 by the City |
25 |
| of Villa Grove; |
26 |
| (61) if the ordinance was adopted on January 13, 1987 |
|
|
|
09600HB1345sam002 |
- 8 - |
LRB096 08462 RLJ 27029 a |
|
|
1 |
| by the Village of Mt. Zion; |
2 |
| (62) if the ordinance was adopted on December 30, 1986 |
3 |
| by the Village of Manteno; |
4 |
| (63) if the ordinance was adopted on April 3, 1989 by |
5 |
| the City of Chicago Heights; |
6 |
| (64) if the ordinance was adopted on January 6, 1999 by |
7 |
| the Village of Rosemont; |
8 |
| (65) if the ordinance was adopted on December 19, 2000 |
9 |
| by the Village of Stone Park; |
10 |
| (66) if the ordinance was adopted on December 22, 1986 |
11 |
| by the City of DeKalb; or |
12 |
| (67) if the ordinance was adopted on December 2, 1986 |
13 |
| by the City of Aurora ; .
|
14 |
| (68)
(67) if the ordinance was adopted on December 31, |
15 |
| 1986 by the Village of Milan; or |
16 |
| (69)
(68) if the ordinance was adopted on September 8, |
17 |
| 1994 by the City of West Frankfort ; . |
18 |
| (70) if the ordinance was adopted on December 23, 1986 |
19 |
| by the Village of Libertyville; |
20 |
| (71) if the ordinance was adopted on November 6, 2002 |
21 |
| by the City of Chicago to create the Madden/Wells TIF |
22 |
| District; |
23 |
| (72) if the ordinance was adopted on November 4, 1998 |
24 |
| by the City of Chicago to create the Roosevelt/Racine TIF |
25 |
| District; |
26 |
| (73) if the ordinance was adopted on June 10, 1998 by |
|
|
|
09600HB1345sam002 |
- 9 - |
LRB096 08462 RLJ 27029 a |
|
|
1 |
| the City of Chicago to create the Stony Island |
2 |
| Commercial/Burnside Industrial Corridors TIF District; or |
3 |
| (74) if the ordinance was adopted on November 29, 1989 |
4 |
| by the City of Chicago to create the Englewood Mall TIF |
5 |
| District. |
6 |
| (d) For redevelopment project areas for which bonds were |
7 |
| issued before
July 29, 1991, or for which contracts were |
8 |
| entered into before June 1,
1988, in connection with a |
9 |
| redevelopment project in the area within
the State Sales Tax |
10 |
| Boundary, the estimated dates of completion of the
|
11 |
| redevelopment project and retirement of obligations to finance |
12 |
| redevelopment
project costs (including refunding bonds under |
13 |
| Section 11-74.4-7) may be extended by municipal ordinance to |
14 |
| December 31, 2013.
The termination procedures of subsection (b) |
15 |
| of Section 11-74.4-8 are not
required for
these redevelopment |
16 |
| project areas in 2009 but are required in 2013.
The extension |
17 |
| allowed by Public Act 87-1272 shall not apply to real
property |
18 |
| tax increment allocation financing under Section 11-74.4-8. |
19 |
| (e) Those dates, for purposes of real property tax |
20 |
| increment allocation
financing pursuant to Section 11-74.4-8 |
21 |
| only, shall be not more than 35 years
for redevelopment project |
22 |
| areas that were adopted on or after December 16,
1986 and for |
23 |
| which at least $8 million worth of municipal bonds were |
24 |
| authorized
on or after December 19, 1989 but before January 1, |
25 |
| 1990; provided that the
municipality elects to extend the life |
26 |
| of the redevelopment project area to 35
years by the adoption |
|
|
|
09600HB1345sam002 |
- 10 - |
LRB096 08462 RLJ 27029 a |
|
|
1 |
| of an ordinance after at least 14 but not more than 30
days' |
2 |
| written notice to the taxing bodies, that would otherwise |
3 |
| constitute the
joint review board for the redevelopment project |
4 |
| area, before the adoption of
the ordinance. |
5 |
| (f) Those dates, for purposes of real property tax |
6 |
| increment allocation
financing pursuant to Section 11-74.4-8 |
7 |
| only, shall be not more than 35 years
for redevelopment project |
8 |
| areas that were established on or after December 1,
1981 but |
9 |
| before January 1, 1982 and for which at least $1,500,000 worth |
10 |
| of
tax increment revenue bonds were authorized
on or after |
11 |
| September 30, 1990 but before July 1, 1991; provided that the
|
12 |
| municipality elects to extend the life of the redevelopment |
13 |
| project area to 35
years by the adoption of an ordinance after |
14 |
| at least 14 but not more than 30
days' written notice to the |
15 |
| taxing bodies, that would otherwise constitute the
joint review |
16 |
| board for the redevelopment project area, before the adoption |
17 |
| of
the ordinance. |
18 |
| (g) In consolidating the material relating to completion |
19 |
| dates from Sections 11-74.4-3 and 11-74.4-7 into this Section, |
20 |
| it is not the intent of the 95th General Assembly to make any |
21 |
| substantive change in the law, except for the extension of the |
22 |
| completion dates date for the City of Aurora , the Village of |
23 |
| Milan ,
and the City of West Frankfort , and the Village of |
24 |
| Libertyville set forth under items item (67) ,
and (68) , (69), |
25 |
| and (70) of subsection (c) of this Section.
|
26 |
| (Source: P.A. 95-932, eff. 8-26-08; 95-964, eff. 9-23-08; |
|
|
|
09600HB1345sam002 |
- 11 - |
LRB096 08462 RLJ 27029 a |
|
|
1 |
| incorporates P.A. 95-777, eff. 9-22-08; revised 10-14-08.) |
2 |
| (Text of Section after amendment by P.A. 95-1028 ) |
3 |
| Sec. 11-74.4-3.5. Completion dates for redevelopment |
4 |
| projects. |
5 |
| (a) Unless otherwise stated in this Section, the estimated |
6 |
| dates of completion
of the redevelopment project and retirement |
7 |
| of obligations issued to finance
redevelopment project costs |
8 |
| (including refunding bonds under Section 11-74.4-7) may not be
|
9 |
| later than December 31 of the year in which the payment to the |
10 |
| municipal
treasurer, as provided in subsection (b) of Section |
11 |
| 11-74.4-8 of this Act, is to
be made with respect to ad valorem |
12 |
| taxes levied in the 23rd
calendar year after the year in which |
13 |
| the ordinance approving the
redevelopment project area was |
14 |
| adopted if the ordinance was adopted on or after
January 15, |
15 |
| 1981. |
16 |
| (b) The estimated dates of completion
of the redevelopment |
17 |
| project and retirement of obligations issued to finance
|
18 |
| redevelopment project costs (including refunding bonds under |
19 |
| Section 11-74.4-7) may not be later than December 31 of the |
20 |
| year in which the payment to the municipal
treasurer as |
21 |
| provided in subsection (b) of Section 11-74.4-8 of this Act is |
22 |
| to
be made with respect to ad valorem taxes levied in the 33rd |
23 |
| calendar
year after the year in which the ordinance approving |
24 |
| the
redevelopment project area was adopted, if the ordinance |
25 |
| was adopted on May 20, 1985 by the Village of Wheeling. |
|
|
|
09600HB1345sam002 |
- 12 - |
LRB096 08462 RLJ 27029 a |
|
|
1 |
| (c) The estimated dates of completion
of the redevelopment |
2 |
| project and retirement of obligations issued to finance
|
3 |
| redevelopment project costs (including refunding bonds under |
4 |
| Section 11-74.4-7) may not be later than December 31 of the |
5 |
| year in which the payment to the municipal
treasurer as |
6 |
| provided in subsection (b) of Section 11-74.4-8 of this Act is |
7 |
| to
be made with respect to ad valorem taxes levied in the 35th |
8 |
| calendar
year after the year in which the ordinance approving |
9 |
| the
redevelopment project area was adopted: |
10 |
| (1) if the ordinance was adopted before January 15, |
11 |
| 1981; |
12 |
| (2) if the ordinance was adopted in December 1983, |
13 |
| April 1984, July 1985,
or December 1989; |
14 |
| (3) if the ordinance was adopted in December 1987 and |
15 |
| the redevelopment
project is located within one mile of |
16 |
| Midway Airport; |
17 |
| (4) if the ordinance was adopted before January 1, 1987 |
18 |
| by a municipality in
Mason County; |
19 |
| (5) if the municipality is subject to the Local |
20 |
| Government Financial Planning
and Supervision Act or the |
21 |
| Financially Distressed City Law; |
22 |
| (6) if the ordinance was adopted in December 1984 by |
23 |
| the Village of Rosemont; |
24 |
| (7) if the ordinance was adopted on December 31, 1986 |
25 |
| by a municipality
located in Clinton County for which at |
26 |
| least $250,000 of tax increment
bonds were authorized on |
|
|
|
09600HB1345sam002 |
- 13 - |
LRB096 08462 RLJ 27029 a |
|
|
1 |
| June 17, 1997, or if the ordinance was adopted on
December |
2 |
| 31, 1986 by a municipality with a population in 1990 of |
3 |
| less than
3,600 that is located in a county with a |
4 |
| population in 1990 of less than
34,000 and for which at |
5 |
| least $250,000 of tax increment bonds were authorized
on |
6 |
| June 17, 1997; |
7 |
| (8) if the ordinance was adopted on October 5, 1982 by |
8 |
| the City of Kankakee, or if the ordinance was adopted on |
9 |
| December 29, 1986 by East St. Louis; |
10 |
| (9) if
the ordinance was adopted on November 12, 1991 |
11 |
| by the Village of Sauget; |
12 |
| (10) if the ordinance was
adopted on February 11, 1985 |
13 |
| by the City of Rock Island; |
14 |
| (11) if the ordinance was adopted before December 18, |
15 |
| 1986 by the City of
Moline; |
16 |
| (12) if the ordinance was adopted in September 1988 by |
17 |
| Sauk Village; |
18 |
| (13) if the ordinance was adopted in October 1993 by |
19 |
| Sauk Village; |
20 |
| (14) if the ordinance was adopted on December 29, 1986 |
21 |
| by the City of Galva; |
22 |
| (15) if the ordinance was adopted in March 1991 by the |
23 |
| City of Centreville; |
24 |
| (16) if the ordinance was adopted on January 23, 1991
|
25 |
| by the City of East St. Louis; |
26 |
| (17) if the ordinance was adopted on December 22, 1986 |
|
|
|
09600HB1345sam002 |
- 14 - |
LRB096 08462 RLJ 27029 a |
|
|
1 |
| by the City of Aledo; |
2 |
| (18) if the ordinance was adopted on February 5, 1990 |
3 |
| by the City of Clinton; |
4 |
| (19) if the ordinance was adopted on September 6, 1994 |
5 |
| by the City of Freeport; |
6 |
| (20) if the ordinance was adopted on December 22, 1986 |
7 |
| by the City of Tuscola; |
8 |
| (21) if the ordinance was adopted on December 23, 1986 |
9 |
| by the City of Sparta; |
10 |
| (22) if the ordinance was adopted on December 23, 1986 |
11 |
| by the City of
Beardstown; |
12 |
| (23) if the ordinance was adopted on April 27, 1981, |
13 |
| October 21, 1985, or
December 30, 1986 by the City of |
14 |
| Belleville; |
15 |
| (24) if the ordinance was adopted on December 29, 1986 |
16 |
| by the City of
Collinsville; |
17 |
| (25) if the ordinance was adopted on September 14, 1994 |
18 |
| by the
City of Alton; |
19 |
| (26) if the ordinance was adopted on November 11, 1996 |
20 |
| by the
City of Lexington; |
21 |
| (27) if the ordinance was adopted on November 5, 1984 |
22 |
| by
the City of LeRoy; |
23 |
| (28) if the ordinance was adopted on April 3, 1991 or
|
24 |
| June 3, 1992 by the City of Markham; |
25 |
| (29) if the ordinance was adopted on November 11, 1986 |
26 |
| by the City of Pekin; |
|
|
|
09600HB1345sam002 |
- 15 - |
LRB096 08462 RLJ 27029 a |
|
|
1 |
| (30) if the ordinance was adopted on December 15, 1981 |
2 |
| by the City of Champaign; |
3 |
| (31) if the ordinance was adopted on December 15, 1986 |
4 |
| by the City of Urbana; |
5 |
| (32) if the ordinance was adopted on December 15, 1986 |
6 |
| by the Village of Heyworth; |
7 |
| (33) if the ordinance was adopted on February 24, 1992 |
8 |
| by the Village of Heyworth; |
9 |
| (34) if the ordinance was adopted on March 16, 1995 by |
10 |
| the Village of Heyworth; |
11 |
| (35) if the ordinance was adopted on December 23, 1986 |
12 |
| by the Town of Cicero; |
13 |
| (36) if the ordinance was adopted on December 30, 1986 |
14 |
| by the City of Effingham; |
15 |
| (37) if the ordinance was adopted on May 9, 1991 by the |
16 |
| Village of
Tilton; |
17 |
| (38) if the ordinance was adopted on October 20, 1986 |
18 |
| by the City of Elmhurst; |
19 |
| (39) if the ordinance was adopted on January 19, 1988 |
20 |
| by the City of
Waukegan; |
21 |
| (40) if the ordinance was adopted on September 21, 1998 |
22 |
| by the City of
Waukegan; |
23 |
| (41) if the ordinance was adopted on December 31, 1986 |
24 |
| by the City of Sullivan; |
25 |
| (42) if the ordinance was adopted on December 23, 1991 |
26 |
| by the City of Sullivan; |
|
|
|
09600HB1345sam002 |
- 16 - |
LRB096 08462 RLJ 27029 a |
|
|
1 |
| (43) if the ordinance was adopted on December 31, 1986 |
2 |
| by the City of Oglesby; |
3 |
| (44) if the ordinance was adopted on July 28, 1987 by |
4 |
| the City of Marion; |
5 |
| (45) if the ordinance was adopted on April 23, 1990 by |
6 |
| the City of Marion; |
7 |
| (46) if the ordinance was adopted on August 20, 1985 by |
8 |
| the Village of Mount Prospect; |
9 |
| (47) if the ordinance was adopted on February 2, 1998 |
10 |
| by the Village of Woodhull; |
11 |
| (48) if the ordinance was adopted on April 20, 1993 by |
12 |
| the Village of Princeville; |
13 |
| (49) if the ordinance was adopted on July 1, 1986 by |
14 |
| the City of Granite City; |
15 |
| (50) if the ordinance was adopted on February 2, 1989 |
16 |
| by the Village of Lombard; |
17 |
| (51) if the ordinance was adopted on December 29, 1986 |
18 |
| by the Village of Gardner; |
19 |
| (52) if the ordinance was adopted on July 14, 1999 by |
20 |
| the Village of Paw Paw; |
21 |
| (53) if the ordinance was adopted on November 17, 1986 |
22 |
| by the Village of Franklin Park; |
23 |
| (54) if the ordinance was adopted on November 20, 1989 |
24 |
| by the Village of South Holland; |
25 |
| (55) if the ordinance was adopted on July 14, 1992 by |
26 |
| the Village of Riverdale; |
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LRB096 08462 RLJ 27029 a |
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| (56) if the ordinance was adopted on December 29, 1986 |
2 |
| by the City of Galesburg; |
3 |
| (57) if the ordinance was adopted on April 1, 1985 by |
4 |
| the City of Galesburg; |
5 |
| (58) if the ordinance was adopted on May 21, 1990 by |
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| the City of West Chicago; |
7 |
| (59) if the ordinance was adopted on December 16, 1986 |
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| by the City of Oak Forest; |
9 |
| (60) if the ordinance was adopted in 1999 by the City |
10 |
| of Villa Grove; |
11 |
| (61) if the ordinance was adopted on January 13, 1987 |
12 |
| by the Village of Mt. Zion; |
13 |
| (62) if the ordinance was adopted on December 30, 1986 |
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| by the Village of Manteno; |
15 |
| (63) if the ordinance was adopted on April 3, 1989 by |
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| the City of Chicago Heights; |
17 |
| (64) if the ordinance was adopted on January 6, 1999 by |
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| the Village of Rosemont; |
19 |
| (65) if the ordinance was adopted on December 19, 2000 |
20 |
| by the Village of Stone Park; |
21 |
| (66) if the ordinance was adopted on December 22, 1986 |
22 |
| by the City of DeKalb; or |
23 |
| (67) if the ordinance was adopted on December 2, 1986 |
24 |
| by the City of Aurora ; .
|
25 |
| (68)
(67) if the ordinance was adopted on December 31, |
26 |
| 1986 by the Village of Milan; or |
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| (69)
(68) if the ordinance was adopted on September 8, |
2 |
| 1994 by the City of West Frankfort ; . |
3 |
| (70) if the ordinance was adopted on December 23, 1986 |
4 |
| by the Village of Libertyville; |
5 |
| (71) if the ordinance was adopted on December 22, 1986 |
6 |
| by the Village of Hoffman Estates;
|
7 |
| (72) if the ordinance was adopted on November 6, 2002 |
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| by the City of Chicago to create the Madden/Wells TIF |
9 |
| District; |
10 |
| (73) if the ordinance was adopted on November 4, 1998 |
11 |
| by the City of Chicago to create the Roosevelt/Racine TIF |
12 |
| District; |
13 |
| (74) if the ordinance was adopted on June 10, 1998 by |
14 |
| the City of Chicago to create the Stony Island |
15 |
| Commercial/Burnside Industrial Corridors TIF District; or |
16 |
| (75) if the ordinance was adopted on November 29, 1989 |
17 |
| by the City of Chicago to create the Englewood Mall TIF |
18 |
| District. |
19 |
| (d) For redevelopment project areas for which bonds were |
20 |
| issued before
July 29, 1991, or for which contracts were |
21 |
| entered into before June 1,
1988, in connection with a |
22 |
| redevelopment project in the area within
the State Sales Tax |
23 |
| Boundary, the estimated dates of completion of the
|
24 |
| redevelopment project and retirement of obligations to finance |
25 |
| redevelopment
project costs (including refunding bonds under |
26 |
| Section 11-74.4-7) may be extended by municipal ordinance to |
|
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| December 31, 2013.
The termination procedures of subsection (b) |
2 |
| of Section 11-74.4-8 are not
required for
these redevelopment |
3 |
| project areas in 2009 but are required in 2013.
The extension |
4 |
| allowed by Public Act 87-1272 shall not apply to real
property |
5 |
| tax increment allocation financing under Section 11-74.4-8. |
6 |
| (e) Those dates, for purposes of real property tax |
7 |
| increment allocation
financing pursuant to Section 11-74.4-8 |
8 |
| only, shall be not more than 35 years
for redevelopment project |
9 |
| areas that were adopted on or after December 16,
1986 and for |
10 |
| which at least $8 million worth of municipal bonds were |
11 |
| authorized
on or after December 19, 1989 but before January 1, |
12 |
| 1990; provided that the
municipality elects to extend the life |
13 |
| of the redevelopment project area to 35
years by the adoption |
14 |
| of an ordinance after at least 14 but not more than 30
days' |
15 |
| written notice to the taxing bodies, that would otherwise |
16 |
| constitute the
joint review board for the redevelopment project |
17 |
| area, before the adoption of
the ordinance. |
18 |
| (f) Those dates, for purposes of real property tax |
19 |
| increment allocation
financing pursuant to Section 11-74.4-8 |
20 |
| only, shall be not more than 35 years
for redevelopment project |
21 |
| areas that were established on or after December 1,
1981 but |
22 |
| before January 1, 1982 and for which at least $1,500,000 worth |
23 |
| of
tax increment revenue bonds were authorized
on or after |
24 |
| September 30, 1990 but before July 1, 1991; provided that the
|
25 |
| municipality elects to extend the life of the redevelopment |
26 |
| project area to 35
years by the adoption of an ordinance after |
|
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LRB096 08462 RLJ 27029 a |
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| at least 14 but not more than 30
days' written notice to the |
2 |
| taxing bodies, that would otherwise constitute the
joint review |
3 |
| board for the redevelopment project area, before the adoption |
4 |
| of
the ordinance. |
5 |
| (g) In consolidating the material relating to completion |
6 |
| dates from Sections 11-74.4-3 and 11-74.4-7 into this Section, |
7 |
| it is not the intent of the 95th General Assembly to make any |
8 |
| substantive change in the law, except for the extension of the |
9 |
| completion dates date for the City of Aurora , the Village of |
10 |
| Milan ,
and the City of West Frankfort , the Village of |
11 |
| Libertyville, and the Village of Hoffman Estates set forth |
12 |
| under items item (67) ,
and (68) , (69), (70), and (71) of |
13 |
| subsection (c) of this Section.
|
14 |
| (Source: P.A. 95-932, eff. 8-26-08; 95-964, eff. 9-23-08; |
15 |
| incorporates P.A. 95-777, eff. 9-22-08, and 95-1028, eff. |
16 |
| 1-1-10; revised 1-27-09.) |
17 |
| (65 ILCS 5/11-74.4-8d new)
|
18 |
| Sec. 11-74.4-8d. Website postings; municipalities of |
19 |
| 1,000,000 or more. |
20 |
| (a) In any municipality with a population of 1,000,000 or |
21 |
| more, the following shall be posted on a website maintained by |
22 |
| the municipality: |
23 |
| (1) Any ordinance designating a redevelopment project |
24 |
| area or approving a redevelopment plan, redevelopment |
25 |
| project, or redevelopment agreement pursuant to this |
|
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|
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| Division 74.4, including all attachments, and any |
2 |
| amendments thereto. |
3 |
| (2) Written staff reports presented to a board created |
4 |
| in subsection (k) of Section 11-74.4-4. |
5 |
| (3) The information required to be submitted pursuant |
6 |
| to subsection (d) of Section 11-74.4-5 and any other |
7 |
| overviews prepared by the municipality relating to |
8 |
| redevelopment or financing pursuant to this Division 74.4. |
9 |
| (4) Any certificates of completion issued by the |
10 |
| municipality or annual employment certifications received |
11 |
| by the municipality pursuant to a redevelopment agreement. |
12 |
| (b) Except as provided in subsection (c), all ordinances |
13 |
| described in paragraph (1) of subsection (a) of this Section |
14 |
| shall be made available on the website within 7 business days |
15 |
| after the ordinance is passed and published by the |
16 |
| municipality. Except as provided in subsection (c), all |
17 |
| documents described in paragraphs (2), (3), and (4) of |
18 |
| subsection (a) of this Section shall be made available on the |
19 |
| website within 14 business days after the document has been |
20 |
| completed in final form. |
21 |
| (c) The requirements of this Section apply with respect to |
22 |
| any redevelopment project area designated or amended on or |
23 |
| after July 30, 2004. The ordinances and documents that passed |
24 |
| or were completed prior to the effective date of this |
25 |
| amendatory Act of the 96th General Assembly shall be made |
26 |
| available on the website no later than 30 days after that |
|
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LRB096 08462 RLJ 27029 a |
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|
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| effective date.
|
2 |
| Section 95. No acceleration or delay. Where this Act makes |
3 |
| changes in a statute that is represented in this Act by text |
4 |
| that is not yet or no longer in effect (for example, a Section |
5 |
| represented by multiple versions), the use of that text does |
6 |
| not accelerate or delay the taking effect of (i) the changes |
7 |
| made by this Act or (ii) provisions derived from any other |
8 |
| Public Act. |
9 |
| Section 99. Effective date. This Act takes effect upon |
10 |
| becoming law.".
|