(605 ILCS 5/5-912) (from Ch. 121, par. 5-912)
Sec. 5-912.
Payment of Impact Fees.
In order to minimize the effect of impact fees on the person paying the
fees, the following methods of payment shall be used by the unit of local
government in collecting impact fees. Impact fees imposed upon a
residential development, consisting of one single family residence, shall be
payable as a condition to the issuance of the
building permit. Impact fees imposed upon all other types of new development,
including multi-unit residential development, shall be payable as a
condition to the issuance of the certificate of occupancy, provided that
the developer and the unit of local government enter into an agreement
designating that the developer notify the unit of local government that the
building permit or the certificate of occupancy has been issued. For any
development receiving assisted financing, including any development for
which a commitment for assisted financing has been issued and for which
assisted financing is provided within 6 months of the issuance of the
certificate of occupancy, the unit of local government shall provide for
the payment of the impact fees through an installment agreement at a
reasonable rate of interest for a period of 10 years after the impact fee is due. Nothing
contained in this Section shall preclude the payment of the impact fee at
the time when the building permit is issued or at an earlier stage of
development if agreed to by the unit of local government and the person
paying the fees. Nothing contained in this Section shall preclude the unit
of local government from making and entering into agreements providing for
the cooperative collection of impact fees but the collection of impact fees
shall be the sole responsibility of the unit of local government imposing
the impact fee. Such agreements may also
provide for the reimbursement of collection costs from the fees collected.
At the option of the unit of local government, impact fees may be paid
through an installment agreement at a reasonable rate of interest for a
period of up to 10 years after the impact fee is due.
Nothing contained in this section shall be construed to give units of
local government a preference over the rights of any purchaser, mortgagee,
judgment creditor or other lienholder arising prior to the filing in the
office of the recorder of the county or counties in which the property is
located of notification of the existence of any uncollected impact fees.
(Source: P.A. 86-97.)
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