(70 ILCS 507/5)
Sec. 5.
Legislative findings.
(a) The General Assembly finds that there has been a dramatic change in the
area known as "Fort Sheridan", a former federal reservation, and that failure
to make the most economical, efficient, environmentally sensitive, and properly
planned use of the land available for development in the Fort Sheridan area
will result in (i) blight, deterioration, and decay; (ii) destruction of
irreplaceable natural, recreational, housing, and commercial resources; (iii)
diminished opportunity for the private home building industry to operate at its
highest potential capacity in providing good housing needed for those who live
in the area and those expected to move into the area in the future; (iv) the
need for costly and effective public facilities and services at all levels; (v)
inefficient and wasteful use of land resources; (vi) a failure to make the most
economical use of the land available for development; (vii) decreasing
employment and business opportunities for the citizens of the area; and (viii)
the decreased effectiveness of public and private facilities for urban
transportation.
(b) The General Assembly finds that better patterns of development and
revitalization of Fort Sheridan are essential to accommodate future
population growth; to prevent further deterioration of the Fort Sheridan
properties and the people's physical and social environment; and to make a
positive contribution to improving the overall quality of life in the Fort
Sheridan area of Illinois. The General Assembly finds that the health,
welfare, morals, and safety of its citizens require the encouragement of well
planned, diversified, and economically sound community development, including
major additions to Fort Sheridan, while simultaneously preserving open space
and historic areas. The General Assembly finds that desirable community
development on a significantly large scale may be prevented by difficulties in
(i) obtaining adequate financing at moderate cost for enterprises which involve
large initial capital investment, extensive periods before investment can be
returned, and regular patterns of return; (ii) the timely assembly of
sufficiently large sites in economically favorable locations at reasonable
costs; and (iii) making of necessary arrangements among all private and public
organizations involved, for providing site and related improvements (including
streets, sewer and water facilities, and other public and community facilities)
in a timely and coordinated manner, and (iv) facilitating the transfer of title
to certain lands to the Forest Preserve District of Lake County.
(Source: P.A. 89-149, eff. 1-1-96.)
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