| |
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.
MUNICIPALITIES (65 ILCS 5/) Illinois Municipal Code. 65 ILCS 5/Art. 11 Div. 74.2
(65 ILCS 5/Art. 11 Div. 74.2 heading)
DIVISION 74.2.
COMMERCIAL RENEWAL AND
REDEVELOPMENT AREAS
|
65 ILCS 5/11-74.2-1
(65 ILCS 5/11-74.2-1) (from Ch. 24, par. 11-74.2-1)
Sec. 11-74.2-1.
It is hereby found and declared:
(a) In certain municipalities of the State there exist commercial
blight or conservation areas where a major portion of the commercial buildings and
structures are detrimental to the health, safety and welfare of the
occupants and the welfare of the urban community because of age,
dilapidation, overcrowding or faulty arrangement, or lack of
ventilation, light, sanitation facilities, adequate utilities or access
to transportation, commercial marketing centers or to adequate labor
supplies.
(b) Such commercial blight or conservation areas are usually situated in the older
and centrally located areas of the municipalities involved, and once
existing, spread unless eradicated.
(c) As a result of these degenerative conditions the commercial
properties embraced in a commercial blight or conservation area fall into a state of
non-productiveness or limited productiveness, and fail to produce their
due and proper share of taxes.
(d) The conditions in a commercial blight or conservation area necessitate excessive
and disproportionate expenditures of public funds for crime prevention,
public health and safety, fire and accident protection, and other public
services and facilities and constitute a drain upon the public revenue.
These conditions impair the efficient, economical and indispensable
governmental functions of the municipalities embracing such areas, as
well as the governmental functions of the State.
(e) In order to promote and protect the health, safety, morals and
welfare of the public it is necessary to provide for the eradication and
elimination of commercial blight or conservation areas and the construction of
redevelopment projects and commercial projects in these areas.
(f) The eradication and elimination of commercial blight or conservation areas and
the construction of redevelopment projects financed by private capital,
with financial assistance from governmental bodies, in the manner
provided in this Division are hereby declared to be a public use
essential to the public interest.
(Source: P.A. 81-3.)
|
65 ILCS 5/11-74.2-2
(65 ILCS 5/11-74.2-2) (from Ch. 24, par. 11-74.2-2)
Sec. 11-74.2-2.
As used in this Act unless the context requires
otherwise:
(a) "Real property" means lands, lands under water, structures, and
any and all easements, franchises and incorporeal hereditaments, estates
and rights, legal and equitable, including terms for years and liens by
way of judgment, mortgage or otherwise.
(b) "Commercial blight area" or "blight area" means any improved or vacant area of not
less in the aggregate than 2 acres located within the territorial limits
of a municipality where, if improved, industrial, commercial and
residential buildings or improvements, because of a combination of 5 or
more of the following factors:
age; dilapidation; obsolescence; deterioration; illegal use of individual
structures; presence of structures below minimum code
standards; excessive vacancies; overcrowding of structures and community
facilities; lack of ventilation,
light or sanitary facilities; inadequate utilities; or excessive land
coverage; deleterious land use or layout; depreciation or lack of physical
maintenance; lack of community planning,
are detrimental to the public safety, health, morals or
welfare, or if vacant, the sound growth of the area is impaired by, (1)
a combination of 2 or more of the following factors: obsolete platting of
the vacant land; diversity of ownership of such land; tax and special assessment
delinquencies on such land; deterioration of structures or site improvements
in neighboring areas to the vacant land, or (2) the area immediately
prior to becoming vacant qualified as a blighted improved area.
(c) "Commercial project" means any building or buildings or building
addition or other structures to be newly constructed, renovated or
improved and suitable for use by a commercial enterprise or an entity
engaged in providing housing and ancillary services, and includes the
sites and other rights in the land on which such buildings or structures
are located.
(d) "Commercial conservation area" or "conservation area" means any
area located within the territorial limits of the municipality, of not
less, in the aggregate, than 2 acres in which 50% or more of the
structures have an age of 35 years or more. Such an area is not yet a
blight area but because of a combination of 3 or more of the following
factors: dilapidation; obsolescence; deterioration; illegal use of
individual structures; presence of structures below minimum code
standards; abandonment; excessive vacancies; overcrowding of structures
and community facilities; lack of ventilation, light or sanitary
facilities; inadequate utilities; excessive land coverage; deleterious
land use or layout; depreciation of physical maintenance; or lack of
community planning, is detrimental to the public safety, health, morals
or welfare and such an area may become a blight area.
(e) "Commercial redevelopment plan" or "redevelopment plan" means
the comprehensive program for the clearing or rehabilitation and
physical development of a commercial blight or conservation area, and
includes an analysis and projection of the steps necessary for the
elimination or rehabilitation of a commercial blight or conservation
area and the protection of adjacent areas, and all administrative,
funding and financial details and proposals necessary to effectuate the
plan.
(f) "Redevelopment area" means the blighted or conservation area of
not less in the aggregate than 2 acres, to be developed in accordance
with the redevelopment plan.
(Source: P.A. 82-783.)
|
65 ILCS 5/11-74.2-3
(65 ILCS 5/11-74.2-3) (from Ch. 24, par. 11-74.2-3)
Sec. 11-74.2-3.
The corporate authorities of any municipality may by
resolution provide for an initial study and survey to determine if the
municipality contains any commercial blight or conservation areas.
In making the study and survey the corporate authorities shall:
(a) Cooperate with and use any evidence gathered by any public or
private organization relative to the existence, extent or likelihood
of commercial
blight in the municipality;
(b) Hold public or private hearings, conduct investigations, hear
testimony and gather evidence relating to commercial blight or likelihood
of commercial blight and its
elimination;
(c) Create a representative Citizens Committee of not less than 9
persons, to be appointed by the chief executive officer of the
municipality with the approval of a majority of the municipal council,
which committee shall consist of representatives from among local
merchants, owners of commercial real estate, the advertising media,
residential property owners associations, human relations commissions,
labor organizations and civic groups;
(d) Formulate a proposed commercial redevelopment plan for any
blight or conservation area, provided that such plan has received the approval and
recommendation of a 2/3 majority vote of the members of the Citizens
Committee created under paragraph (c) of this Section.
(Source: P.A. 81-3.)
|
65 ILCS 5/11-74.2-4
(65 ILCS 5/11-74.2-4) (from Ch. 24, par. 11-74.2-4)
Sec. 11-74.2-4.
If as a result of their initial study and survey the
corporate authorities determine that one or more commercial blight or conservation areas
exist in the municipality, they may by resolution set forth the
boundaries of each commercial blight or conservation area and the factors that exist in
the blight or conservation areas that are detrimental to public health, safety, morals
and welfare.
In the same resolution the corporate authorities may provide for a
public hearing on commercial blight or conservation and may submit proposed
redevelopment plans for the blight or conservation areas. At least 20 days before the
hearing the municipal clerk shall give notice of the hearing by
publication at least once in a newspaper of general circulation within
the municipality.
(Source: P.A. 81-3.)
|
65 ILCS 5/11-74.2-5
(65 ILCS 5/11-74.2-5) (from Ch. 24, par. 11-74.2-5)
Sec. 11-74.2-5.
At the hearing on commercial blight or conservation areas
the corporate
authorities shall introduce the testimony and evidence that entered into
their decision to declare an area a commercial blight or conservation
area, and shall
enter into the record of the proceedings all proposed commercial
redevelopment plans received at or prior to the hearing. All interested
persons may appear and testify for or against any proposed commercial
redevelopment plan. The hearing may be continued from time to time at
the discretion of the corporate authorities to allow necessary changes
in any proposed plan or to hear or receive additional testimony from
interested persons.
(Source: P.A. 81-3.)
|
65 ILCS 5/11-74.2-6
(65 ILCS 5/11-74.2-6) (from Ch. 24, par. 11-74.2-6)
Sec. 11-74.2-6.
At the conclusion of the hearing on commercial blight and conservation areas
the corporate
authorities shall formulate and publish a final commercial redevelopment
plan for the municipality after approval by a 2/3 majority vote of the
members of the Citizens Committee, which plan may incorporate any
exhibit, plan, proposal, feature, model or testimony resulting from the
hearing. The final redevelopment plan shall be made available for
inspection by all interested parties.
(Source: P.A. 81-3.)
|
65 ILCS 5/11-74.2-7
(65 ILCS 5/11-74.2-7) (from Ch. 24, par. 11-74.2-7)
Sec. 11-74.2-7.
Within 30 days after the publication of a final commercial
redevelopment plan, any person aggrieved by the action of the corporate
authorities may seek a review of their decision and the redevelopment plan
under the Administrative Review Law. The provisions of that Act and all
amendments and modifications thereof and the rules adopted pursuant thereto
shall apply to and govern all proceedings for the judicial review of the
actions of the corporate authorities and the final commercial redevelopment
plan.
If no action is initiated under the Administrative Review Law, or if the
court sustains the corporate authorities and the final redevelopment plan
as is, or as amended by the court, the corporate authorities may proceed to
carry out the final commercial redevelopment plan.
(Source: P.A. 82-783.)
|
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.)
|
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.)
|
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.)
|
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.)
|
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.)
|
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.)
|
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.)
|
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.)
|
65 ILCS 5/11-74.2-16
(65 ILCS 5/11-74.2-16) (from Ch. 24, par. 11-74.2-16)
Sec. 11-74.2-16.
The corporate authorities are authorized and
empowered to incur indebtedness and issue revenue bonds in such amounts
as they deem necessary for the purpose of raising funds for carrying out
the provisions of a final redevelopment plan providing for the
eradication and elimination of commercial blight and conditions likely
to create blight and the acquisition, development or redevelopment of
commercial blight or conservation areas and any other area which may
constitute a redevelopment area within the municipality or for the
purpose of financing in whole or in part the cost of acquisition,
construction and financing of any commercial projects. The ordinance
authorizing the issuance of such revenue bonds shall specify the total
amount of bonds to be issued, the form and denomination, the date they
are to bear, the place at which they are payable, the date or dates of
maturity which shall not be later than 40 years after date, the rate of
interest
which shall not exceed that permitted in "An Act to authorize public corporations
to issue bonds, other evidences of indebtedness and tax anticipation warrants
subject to interest rate limitations set forth therein", approved May 26,
1970, as now or hereafter amended. The ordinance
shall also specify the dates
on which
interest is payable. Such bonds shall be sold at private or public sale
at a price of not less than 97% of par. The bonds shall be executed by such officials as
may be provided in the bond ordinance. The bonds may be made
registerable to principal and may be made callable on any interest
payment date, with or without premium, plus accrued interest
after notice has been given in
the manner provided in the bond ordinance. The bonds shall remain valid
even though one or more of the officers executing the bonds cease to
hold office before the bonds are delivered.
The amendatory Acts of 1971, 1972 and 1973 are not a limit upon any
municipality which is a home rule unit.
(Source: P.A. 82-902.)
|
65 ILCS 5/11-74.2-17
(65 ILCS 5/11-74.2-17) (from Ch. 24, par. 11-74.2-17)
Sec. 11-74.2-17.
The bonds shall contain a provision that the principal and
interest thereon shall be payable exclusively from the proceeds and
revenues of any commercial redevelopment plan or commercial project which
is financed in whole or in part with the proceeds of such bonds, together
with whatever funds of the municipality from whatever source derived as are
necessary to constitute a local matching cash grant-in-aid or contribution
for the redevelopment plan within the meaning of any applicable federal or
State law. Such bonds may be additionally secured by a pledge of any loan,
grant or contribution, or parts thereof, received from the United States of
America or any agency or instrumentality thereof, or any loan, grant or
contribution from any other public or private body, instrumentality,
corporation or individual, or any duly executed contract for such pledge,
loan, grant or contribution or by the assignment of any lease obligation of
any commercial concern.
The corporate authorities executing the revenue bonds shall not be
personally liable on the bonds because of their issuance. The bonds shall
not be the debt of any municipality or the State, or any subdivision
thereof. The bonds shall not be payable out of any funds of the
municipality except those indicated in this Section.
The bonds shall not constitute an indebtedness within the meaning of any
constitutional or statutory debt limitation or restriction.
(Source: P.A. 78-1155.)
|
65 ILCS 5/11-74.2-18
(65 ILCS 5/11-74.2-18) (from Ch. 24, par. 11-74.2-18)
Sec. 11-74.2-18.
The revenue bonds issued pursuant to this Division shall
be sold to the highest and best bidder at not less than their par value and
accrued interest. The municipality shall, from time to time as bonds are to
be sold, advertise for proposals to purchase the bonds. Each such
advertisement may be published in such newspapers and journals as the
corporate authorities may determine but must be published at least once in
a newspaper having a general circulation in the municipality at least 10
days prior to the date of the opening of the bids. The municipality may
reserve the right to reject any and all bids and readvertise for bids.
Revenue bonds issued solely for the purpose of financing a commercial
project may, notwithstanding the foregoing provisions of this Section, be
sold at private sale without advertisement at not less than par and accrued
interest.
The bonds may be issued without submitting any proposition to the
electorate by referendum or otherwise.
Any bonds issued under this Section as limited bonds as defined in Section 3
of
the Local Government Debt Reform Act shall comply with the requirements of the
Bond Issue Notification Act.
(Source: P.A. 89-655, eff. 1-1-97.)
|
65 ILCS 5/11-74.2-19
(65 ILCS 5/11-74.2-19) (from Ch. 24, par. 11-74.2-19)
Sec. 11-74.2-19.
In connection with the issuance of the revenue bonds
authorized by this Division, and in order to secure the payment of such
bonds, the corporate authorities may, subject to the powers and limitations
contained in this Division, covenant and agree in the bonds, bond ordinance
or resolution, or any trust agreement executed pursuant thereto, to any
necessary condition, power, duty, liability or procedure for the issuance,
payment, redemption, security, marketing, replacement or refinancing of
such bonds, and the use, disposition or control of all or any part of the
revenues realized from a commercial redevelopment plan.
(Source: Laws 1967, p. 3213.)
|
65 ILCS 5/Art. 11 Div. 74.3
(65 ILCS 5/Art. 11 Div. 74.3 heading)
DIVISION 74.3.
BUSINESS DISTRICT
DEVELOPMENT AND REDEVELOPMENT
|
65 ILCS 5/11-74.3-1
(65 ILCS 5/11-74.3-1) (from Ch. 24, par. 11-74.3-1)
Sec. 11-74.3-1. Division short title; declaration of public purpose. This Division 74.3 may be cited as the Business District Development and Redevelopment Law. It is hereby found and declared: (1) It is essential to the economic and social welfare of
each municipality that business districts be developed, redeveloped, improved, maintained, and revitalized, that jobs and opportunity for employment be created within the municipality, and that, if blighting conditions are present, blighting conditions be eradicated by
assuring opportunities for development or redevelopment, encouraging private investment, and attracting
sound and stable business and commercial growth. It is further found and determined that as a result of economic conditions unfavorable to the creation, development, improvement, maintenance, and redevelopment of certain business and commercial areas within municipalities opportunities for private investment and sound and stable commercial growth have been and will continue to be negatively impacted and business and commercial areas within many municipalities have deteriorated and will continue to deteriorate, thereby causing a serious menace to the health, safety, morals, and general welfare of the people of the entire State, unemployment, a decline in tax revenues, excessive and disproportionate expenditure of public funds, inadequate public and private investment, the unmarketability of property, and the growth of delinquencies and crime. In order to reduce threats to and to promote and protect the health, safety, morals, and welfare of the public and to provide incentives which will create employment and job opportunities, will retain commercial businesses in the State and related job opportunities and will eradicate blighting conditions if blighting conditions are present, and for the relief of unemployment and the maintenance of existing levels of employment, it is essential that plans for business districts be created and implemented and that business districts be created, developed, improved, maintained, and redeveloped.
(2) The creation, development, improvement, maintenance, and redevelopment of business districts will stimulate economic activity in the State, create and maintain jobs, increase tax revenues, encourage the creation of new and lasting infrastructure, other improvements, and facilities, and cause the attraction and retention of businesses and commercial enterprises which generate economic activity and services and increase the general tax base, including, but not limited to, increased retail sales, hotel or restaurant sales, manufacturing sales, or entertainment industry sales, thereby increasing employment and economic growth. (3) It is hereby declared to be the policy of the State, in the interest of promoting the health, safety, morals, and general welfare of all the people of the State, to provide incentives which will create new job opportunities and retain existing commercial businesses within the State and related job opportunities, and it is further determined and declared that the relief of conditions of unemployment, the maintenance of existing levels of employment, the creation of new job opportunities, the retention of existing commercial businesses, the increase of industry and commerce within the State, the reduction of the evils attendant upon unemployment, and the increase and maintenance of the tax base of the State and its political subdivisions are public purposes and for the public safety, benefit, and welfare of the residents of this State. (4) The exercise of the powers provided in this Law is dedicated to the promotion of the public interest, to the enhancement of the tax base within business districts, municipalities, and the State and its political subdivisions, the creation of employment, and the eradication of blight, if present within the business district, and the use of such powers for the creation, development, improvement, maintenance, and redevelopment of business districts of a municipality is hereby declared to be for the public safety, benefit, and welfare of the residents of the State and essential to the public interest and declared to be for public purposes.
(Source: P.A. 96-1394, eff. 7-29-10.)
|
65 ILCS 5/11-74.3-2
(65 ILCS 5/11-74.3-2) (from Ch. 24, par. 11-74.3-2)
Sec. 11-74.3-2. Procedures to designate business districts; ordinances; notice; hearings. (a) The corporate authorities of a municipality shall by ordinance propose the approval of a business district plan and designation of a business district and shall fix a time and place for a public hearing on the proposals to approve a business district plan and designate a business district. (b) Notice of the public hearing shall be given by publication at least twice, the first publication to be not more than 30 nor less than 10 days prior to the hearing, in a newspaper of general circulation within the municipality. Each notice published pursuant to this Section shall include the following: (1) The time and place of the public hearing; (2) The boundaries of the proposed business district | | by legal description and, where possible, by street location;
|
| (3) A notification that all interested persons will
| | be given an opportunity to be heard at the public hearing;
|
| (4) A description of the business district plan if a
| | business district plan is a subject matter of the public hearing;
|
| (5) The rate of any tax to be imposed pursuant to
| | subsection (10) or (11) of Section 11-74.3-3;
|
| (6) An invitation for any person to submit alternate
| | proposals or bids for any proposed conveyance, lease, mortgage, or other disposition by the municipality of land or rights in land owned by the municipality and located within the proposed business district; and
|
| (7) Such other matters as the municipality shall deem
| | (c) At the public hearing any interested person may file written objections with the municipal clerk and may be heard orally with respect to any matters embodied in the notice. The municipality shall hear and determine all alternate proposals or bids for any proposed conveyance, lease, mortgage, or other disposition by the municipality of land or rights in land owned by the municipality and located within the proposed business district and all protests and objections at the hearing, provided, however, that the corporate authorities of the municipality may establish reasonable rules regarding the length of time provided to members of the general public. The hearing may be adjourned to another date without further notice other than a motion to be entered upon the minutes fixing the time and place of the adjourned hearing. Public hearings with regard to approval of a business district plan or designation of a business district may be held simultaneously.
(d) At the public hearing or at any time prior to the adoption by the municipality of an ordinance approving a business district plan, the municipality may make changes in the business district plan. Changes which do not (i) alter the exterior boundaries of the proposed business district, (ii) substantially affect the general land uses described in the proposed business district plan, (iii) substantially change the nature of any proposed business district project, (iv) change the description of any proposed developer, user, or tenant of any property to be located or improved within the proposed business district, (v) increase the total estimated business district project costs set out in the business district plan by more than 5%, (vi) add additional business district costs to the itemized list of estimated business district costs as proposed in the business district plan, or (vii) impose or increase the rate of any tax to be imposed pursuant to subsection (10) or (11) of Section 11-74.3-3 may be made by the municipality without further public hearing, provided the municipality shall give notice of its changes by publication in a newspaper of general circulation within the municipality. Such notice by publication shall be given not later than 30 days following the adoption of an ordinance approving such changes. Changes which (i) alter the exterior boundaries of the proposed business district, (ii) substantially affect the general land uses described in the proposed business district plan, (iii) substantially change the nature of any proposed business district project, (iv) change the description of any proposed developer, user, or tenant of any property to be located or improved within the proposed business district, (v) increase the total estimated business district project costs set out in the business district plan by more than 5%, (vi) add additional business district costs to the itemized list of estimated business district costs as proposed in the business district plan, or (vii) impose or increase the rate of any tax to be imposed pursuant to subsection (10) or (11) of Section 11-74.3-3 may be made by the municipality only after the municipality by ordinance fixes a time and place for, gives notice by publication of, and conducts a public hearing pursuant to the procedures set forth hereinabove.
(e) By ordinance adopted within 90 days of the final adjournment of the public hearing a municipality may approve the business district plan and designate the business district. Any ordinance adopted which approves a business district plan shall contain findings that the business district on the whole has not been subject to growth and development through investment by private enterprises and would not reasonably be anticipated to be developed or redeveloped without the adoption of the business district plan. Any ordinance adopted which designates a business district shall contain the boundaries of such business district by legal description and, where possible, by street location, a finding that the business district plan conforms to the comprehensive plan for the development of the municipality as a whole, or, for municipalities with a population of 100,000 or more, regardless of when the business district plan was approved, the business district plan either (i) conforms to the strategic economic development or redevelopment plan issued by the designated planning authority or the municipality or (ii) includes land uses that have been approved by the planning commission of the municipality, and, for any business district in which the municipality intends to impose taxes as provided in subsection (10) or (11) of Section 11-74.3-3, a specific finding that the business district qualifies as a blighted area as defined in Section 11-74.3-5.
(f) After a municipality has by ordinance approved a business district plan and designated a business district, the plan may be amended, the boundaries of the business district may be altered, and the taxes provided for in subsections (10) and (11) of Section 11-74.3-3 may be imposed or altered only as provided in this subsection. Changes which do not (i) alter the exterior boundaries of the proposed business district, (ii) substantially affect the general land uses described in the business district plan, (iii) substantially change the nature of any business district project, (iv) change the description of any developer, user, or tenant of any property to be located or improved within the proposed business district, (v) increase the total estimated business district project costs set out in the business district plan by more than 5% after adjustment for inflation from the date the business district plan was approved, (vi) add additional business district costs to the itemized list of estimated business district costs as approved in the business district plan, or (vii) impose or increase the rate of any tax to be imposed pursuant to subsection (10) or (11) of Section 11-74.3-3 may be made by the municipality without further public hearing, provided the municipality shall give notice of its changes by publication in a newspaper of general circulation within the municipality. Such notice by publication shall be given not later than 30 days following the adoption of an ordinance approving such changes. Changes which (i) alter the exterior boundaries of the business district, (ii) substantially affect the general land uses described in the business district plan, (iii) substantially change the nature of any business district project, (iv) change the description of any developer, user, or tenant of any property to be located or improved within the proposed business district, (v) increase the total estimated business district project costs set out in the business district plan by more than 5% after adjustment for inflation from the date the business district plan was approved, (vi) add additional business district costs to the itemized list of estimated business district costs as approved in the business district plan, or (vii) impose or increase the rate of any tax to be imposed pursuant to subsection (10) or (11) of Section 11-74.3-3 may be made by the municipality only after the municipality by ordinance fixes a time and place for, gives notice by publication of, and conducts a public hearing pursuant to the procedures set forth in this Section.
(Source: P.A. 96-1394, eff. 7-29-10; 96-1555, eff. 3-18-11; 97-333, eff. 8-12-11.)
|
|
|
|