(310 ILCS 60/6) (from Ch. 67 1/2, par. 1156)
Sec. 6. Notice of intent to purchase.
(a) The Tenant Association shall
notify the owner in writing, within 90 days after the receipt of the
bona
fide offer of sale, of its intent to purchase the assisted
housing.
(b) The owner shall, after receiving a notice pursuant to subsection
(a), comply with any reasonable request to make documents available to the
Tenant Association, during normal business hours at the owner's principal place
of
business within 15 days of receiving such a request, including but not limited
to: a
floor plan of the development; itemized lists of monthly operating
expenses, capital expenditures in each of the 2 preceding calendar years
and deferred maintenance costs; the amount of project reserves; utility
consumption rates; copies of financial and physical inspection reports filed
with federal, State or local agencies; the most recent rent roll; a list of
tenants; a list of vacant units; and a statement of the vacancy rate at the
development for each of the 2 preceding calendar years.
(Source: P.A. 93-727, eff. 7-14-04.)
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