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Illinois Compiled Statutes
Information maintained by the Legislative Reference Bureau Updating the database of the Illinois Compiled Statutes (ILCS) is an ongoing process. Recent laws may not yet be included in the ILCS database, but they are found on this site as Public Acts soon after they become law. For information concerning the relationship between statutes and Public Acts, refer to the Guide. Because the statute database is maintained primarily for legislative drafting purposes, statutory changes are sometimes included in the statute database before they take effect. If the source note at the end of a Section of the statutes includes a Public Act that has not yet taken effect, the version of the law that is currently in effect may have already been removed from the database and you should refer to that Public Act to see the changes made to the current law.
() 65 ILCS 5/11-74.2-8
(65 ILCS 5/11-74.2-8) (from Ch. 24, par. 11-74.2-8)
Sec. 11-74.2-8.
In carrying out a final commercial redevelopment plan
the corporate authorities have the power to:
(a) Acquire by purchase, gift, condemnation or otherwise as provided
in this Division the fee simple title to all or any part of the real
property in any redevelopment area; if the property is to be obtained by
condemnation, such power of condemnation may be exercised only when at
least 85% of the land located within the boundaries of each plan has
been acquired previously by the corporate authorities or private
organizations pursuant to the implementation of the plan through good
faith negotiations and such negotiations are unsuccessful in acquiring
the remaining land;
(b) Clear any area acquired, by demolition or removal of existing
buildings and structures;
(c) Renovate or rehabilitate any structure or building acquired, or
if any structure or building or the land supporting it has not been
acquired, to permit the owner to renovate or rebuild the structure or
building in accordance with the redevelopment plan;
(d) Construct or acquire by gift or purchase any commercial project
and rent or lease such commercial projects to commercial or housing
concerns or entities engaged in providing housing and ancillary
services at rentals at least sufficient to provide for prompt payment of
interest and principal of all revenue bonds issued for such commercial
projects under Section 11-74.2-16 or as an alternative lend the proceeds
of any such revenue bonds to any such concerns or entities to finance the
cost of such commercial projects on terms that will provide for the prompt
payment at maturity of principal, interest and redemption premium, if any,
upon all bonds issued to finance the cost of such commercial projects;
(e) To sell and convey commercial projects, including without
limitation the sale and conveyance subject to a mortgage, for such price
and at such time as the governing body of the municipality may
determine. However, no sale or conveyance of a commercial project shall
ever be made in such manner as to impair the rights or interests of the
holders of any bonds issued for the construction, purchase, improvement
or extension of any such commercial project;
(f) Install, repair, construct, reconstruct or relocate streets,
utilities and site improvements essential to the preparation of the
redevelopment area for use in accordance with a redevelopment plan;
(g) Mortgage or convey real or personal property acquired for use in
accordance with the redevelopment plan;
(h) Borrow money, apply for and accept advances, loans, grants,
contributions, gifts, services, or other financial assistance, from the
United States of America or any agency or instrumentality thereof, the
State, county, municipality or other public body or from any source,
public or private, for or in aid of any of the purposes of the final
redevelopment plan, and to secure the payment of any loans or advances
by the issuance of revenue bonds and by the pledge of any loan, grant or
contribution, or parts thereof, or the contracts therefor, to be
received from the United States of America or any agency or
instrumentality thereof, and to enter into and carry out contracts in
connection therewith;
(i) Exercise any one or more of the foregoing powers in any
combination to carry out the final redevelopment plan.
Nothing in this Section shall be construed to exclude property in a
final redevelopment plan from taxation.
(Source: P.A. 81-1376.)
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65 ILCS 5/11-74.2-9
(65 ILCS 5/11-74.2-9) (from Ch. 24, par. 11-74.2-9)
Sec. 11-74.2-9. In exercising the power to acquire real estate as provided
in this Division, the corporate authorities may proceed by gift, purchase
or condemnation to acquire the fee simple title to all real property lying
within a redevelopment area, including easements and reversionary interests
in the streets, alleys and other public places lying within such area; if
the property is to be obtained by condemnation, such power of condemnation
may be exercised only when at least 85% of the land located within the
boundaries of each plan has been acquired previously by the corporate
authorities or private organization pursuant to the implementation of the
plan through good faith negotiations and such negotiations are unsuccessful
in acquiring the remaining land. If any such real property is subject to an
easement the corporate authorities in their discretion, may acquire the fee
simple title to such real property subject to such easement if they
determine that such easement will not interfere with carrying out the
redevelopment plan. If any such real property is already devoted to a
public use it may nevertheless be acquired, provided that no property
belonging to the United States of America, the State of Illinois or any
municipality may be acquired without the consent of such governmental unit
and that no property devoted to a public use belonging to a corporation
subject to the jurisdiction of the Illinois Commerce Commission may be
acquired without the approval of the Illinois Commerce Commission. In
carrying out the provisions of this Division, the corporate authorities are
vested with the power to exercise the right of eminent domain. Condemnation
proceedings instituted by the corporate authorities shall be in the manner
provided for the exercise of the right of eminent domain
under the Eminent Domain Act. No power of
condemnation shall be used to acquire a site for a commercial project as
defined in paragraph (c) of Section 11-74.2-2.
Nothing in this Section shall be construed to exclude property in a
final redevelopment plan from taxation.
(Source: P.A. 94-1055, eff. 1-1-07.)
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65 ILCS 5/11-74.2-10
(65 ILCS 5/11-74.2-10) (from Ch. 24, par. 11-74.2-10)
Sec. 11-74.2-10.
When the corporate authorities have acquired title
to, and possession of all or any part of the real property located
within a redevelopment area, they may let contracts for the demolition
or removal of buildings and for the removal of any debris. The corporate
authorities shall advertise for sealed bids for doing such work. The
advertisement shall describe by street number or other means of
identification the location of the buildings to be demolished or removed
and the time and place where sealed bids for the work may be delivered
to the corporate authorities. The advertisement shall be published once
in a newspaper having a general circulation in the municipality 20 days
prior to the date for receiving bids.
The contract for doing the work shall be let to the lowest
responsible bidder, but the corporate authorities may reject any and all
bids received and readvertise for bids. Any contract entered into by the
corporate authorities under this Section shall contain provisions
requiring the contractor to give bond in an amount equal to 1/3 of his
bid price, but in no event in excess of $25,000, conditioned for the
faithful performance of the contract and requiring the contractor to
furnish insurance of a character and amount to be determined by the
corporate authorities protecting the corporate authorities and the
municipality, its officers, agents and employees against any claims for
personal injuries, including death and property damage which may be
asserted because of the contract. The corporate authorities may include
in any advertisement and in the contract one or more buildings, or
groups of buildings, as they in their sole discretion may determine.
Notwithstanding the foregoing, if prior authorization is granted by
ordinance of the corporate authority, contracts for work on commercial
projects to be financed with revenue bonds payable solely from rentals, loan repayments
and other receipts to be derived from such commercial projects, whether
or not secured by a mortgage, may be let by the prospective lessee
without advertisement or bidding.
(Source: P.A. 81-1376.)
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65 ILCS 5/11-74.2-11
(65 ILCS 5/11-74.2-11) (from Ch. 24, par. 11-74.2-11)
Sec. 11-74.2-11.
In carrying out the provisions of a final redevelopment
plan the corporate authorities may pave and improve streets in the
redevelopment area, construct sidewalks and install or relocate sewers,
water pipes and other similar facilities. The corporate authorities shall
advertise for sealed bids for doing such work. The advertisement shall
describe the nature of the work to be performed and the time when and place
where sealed bids for the work may be delivered to the corporate
authorities. The advertisement shall be published once in a newspaper
having a general circulation in the municipality at least 20 days prior to
the date for receiving bids. A contract for doing the work shall be let to
the lowest responsible bidder, but the corporate authorities may reject any
and all bids received and readvertise for bids. The contractor shall enter
into bond in an amount equal to 1/3 of the amount of his bid conditioned
for the faithful performance of the contract. The sureties on such bond and
on the bond given pursuant to Section 11-74.2-10 shall be approved by the
corporate authorities.
(Source: Laws 1967, p. 3213.)
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65 ILCS 5/11-74.2-12
(65 ILCS 5/11-74.2-12) (from Ch. 24, par. 11-74.2-12)
Sec. 11-74.2-12.
When the corporate authorities have acquired title to, and
possession of any or all real property in the redevelopment area, they may
convey any part of the redevelopment area to any public body having
jurisdiction over schools, parks or playgrounds in the area. The property
so conveyed shall be used for parks, playgrounds, schools and other public
purposes as the corporate authorities may determine. The corporate
authorities may charge for such conveyances whatever price they and the
officials of the public bodies receiving the land may agree upon. The
corporate authorities may also grant with or without charge, easements for
public utilities, sewerage and other similar facilities.
(Source: Laws 1967, p. 3213.)
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65 ILCS 5/11-74.2-13
(65 ILCS 5/11-74.2-13) (from Ch. 24, par. 11-74.2-13)
Sec. 11-74.2-13.
No member of the corporate authority or employee of a
municipality subject to this Division shall acquire any interest direct or
indirect in any redevelopment area or in any property included or planned
to be included in any redevelopment area. Nor shall they have any interest
direct or indirect in any contract or proposed contract in connection with
any such redevelopment area. If any such member or employee owns or
controls an interest direct or indirect in any property included in any
redevelopment area he shall disclose the same in writing to the
municipality and such disclosure shall be entered upon the minute books of
the municipality.
(Source: Laws 1967, p. 3213.)
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65 ILCS 5/11-74.2-14
(65 ILCS 5/11-74.2-14) (from Ch. 24, par. 11-74.2-14)
Sec. 11-74.2-14.
The corporate authorities may at any time transfer
and sell the fee simple title, or any lesser estate that they acquired
to all or any part of the real property within the redevelopment area.
No such sale shall be inconsistent with the provisions of paragraph (e)
of Section 11-74.2-8.
Such sales and transfers may be made to:
(1) Any individual, association or corporation, organized under the
laws of this State or of any other State or country, which may legally
make such investments in this State, including foreign and alien
insurance companies, as defined in Section 2 of the "Illinois Insurance
Code"; or
(2) Any body politic and corporate, public corporation or private
individual, corporation, association or interest empowered by law to
acquire, develop and use such real property for such uses, public or
private, as are in accordance with the final redevelopment plan.
To provide that the real property sold by the corporate authorities
is used in accordance with the final redevelopment plan, the corporate
authorities shall inquire into and satisfy themselves concerning the
financial ability of the purchaser to complete the redevelopment in
accordance with the redevelopment plan and shall require the purchaser
to execute in writing such undertakings as the corporate authorities may
deem necessary to obligate the purchaser to:
(1) Use the land for the purposes designated in the approved plan;
(2) Commence and complete the building of the improvements or the renovation
of the property within the periods of time which the corporate authorities fix
as reasonable; and
(3) Comply with such other conditions as are necessary to carry out
the purposes of the final redevelopment plan.
Any redevelopment area may be sold either as an entirety or in such
parcels as the corporate authorities may select. It is not necessary
that title be acquired to all real property within the redevelopment
area before the sale of a part thereof may be made as provided in this
Section. All real property sold shall be sold at its use value which may
be less than its acquisition cost. For purposes of this Division, use
value represents the value at which the corporate authorities determine
that such land should be made available in order that it may be
developed or redeveloped for the purposes specified in the final
redevelopment plan.
(Source: P.A. 81-3.)
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65 ILCS 5/11-74.2-15
(65 ILCS 5/11-74.2-15) (from Ch. 24, par. 11-74.2-15)
Sec. 11-74.2-15.
Any real property in the redevelopment area that has not
been sold, or in the case of commercial projects sold or leased, by the
corporate authorities within 5 years after they have acquired title to all
the real property in the area shall be sold by the corporate authorities at
public sale for cash to the highest bidder who obligates himself to
redevelop the property in accordance with the final redevelopment plan.
Notice of the sale and of the place where the final redevelopment plan may
be inspected shall be published once in a newspaper having a general
circulation in the municipality in which the real property is situated at
least 20 days prior to the date of the public sale. The notice shall
contain a description of the real property to be sold and a general
statement of the use for which such property may be developed under the
redevelopment plan.
The corporate authorities may reject the bids received if in their
opinion the highest bid does not equal or exceed the use value of the land
to be sold. Within 6 months after the bids have been rejected, the
corporate authorities shall again advertise for sale any real property then
remaining unsold. Each additional publication and offer for bids shall be
subject to the same requirements and conditions as the original
publication.
Any deed executed by the corporate authorities under this Division may
contain such restrictions as are required by the final redevelopment plan
and necessary building and zoning ordinances. All such deeds of conveyance
shall be executed in the name of the municipality by its chief executive
officer, and the seal of the municipality shall be attached to the deeds.
(Source: P.A. 78-1155.)
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