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(55 ILCS 5/5-30021)
(from Ch. 34, par. 5-30021)
Determination of economic hardship.
commission, upon a determination after review of all evidence and
information that the denial of a certificate of appropriateness has denied,
or will deny the owner of a landmark or of a property within a preservation
district of all reasonable use of, or return on, the property, shall
undertake one or the other of the following actions:
(1) offer the owner of the property reasonable
financing, tax or other incentives sufficient to allow a reasonable use of, or return on, the property:
(2) offer to purchase the property at a reasonable
price or institute eminent domain proceedings pursuant to the Eminent Domain Act; or
(3) issue a certificate of appropriateness for the
proposed construction, alteration, demolition or removal.
(Source: P.A. 94-1055, eff. 1-1-07.)