(65 ILCS 5/Art. 11 Div. 74.4 heading)
DIVISION 74.4.
TAX INCREMENT
ALLOCATION REDEVELOPMENT ACT
|
(65 ILCS 5/11-74.4-1) (from Ch. 24, par. 11-74.4-1)
Sec. 11-74.4-1.
This Division 74.4 shall be known and may be cited as
the "Tax Increment Allocation Redevelopment Act".
(Source: P.A. 84-1417.)
|
(65 ILCS 5/11-74.4-2) (from Ch. 24, par. 11-74.4-2)
Sec. 11-74.4-2.
(a) It is hereby found and declared that there exist in
many municipalities within this State blighted conservation and
industrial park conservation areas, as
defined herein; that the conservation areas are rapidly deteriorating and
declining and may soon become blighted areas if their decline is not
checked; that the stable economic and physical development of the blighted
areas, conservation areas and industrial park conservation
areas is endangered by the presence of blighting
factors as manifested by progressive and advanced deterioration of structures,
by the overuse of housing and other facilities, by a lack of physical maintenance
of existing structures, by obsolete and inadequate community facilities
and a lack of sound community planning, by obsolete platting, diversity
of ownership, excessive tax and special assessment delinquencies, by
the growth of a large surplus of workers who lack the skills to meet
existing or potential employment opportunities or by a
combination of these factors; that as a result of the existence of blighted
areas and areas requiring conservation, there is an excessive and disproportionate
expenditure of public funds, inadequate public and private investment, unmarketability
of property, growth in delinquencies and crime, and housing and zoning law
violations in such areas together with an abnormal exodus of families and
businesses so that the decline of these areas impairs the value of private
investments and threatens the sound growth and the tax base of taxing districts
in such areas, and threatens the health, safety, morals, and welfare of the
public and that the industrial park conservation areas include
under-utilized areas which, if developed as industrial parks, will promote
industrial and transportation activities, thereby reducing the evils
attendant upon involuntary unemployment and enhancing the public health and
welfare of this State.
(b) It is hereby found and declared that in order to promote and protect
the health, safety, morals, and welfare of the public, that blighted conditions
need to be eradicated and conservation measures instituted, and that redevelopment
of such areas be undertaken; that to remove and alleviate adverse conditions
it is necessary to encourage private investment and restore and enhance
the tax base of the taxing districts in such areas by the development or redevelopment
of project areas. The eradication of blighted areas and treatment and
improvement of conservation areas and industrial park conservation
areas by redevelopment projects is hereby declared
to be essential to the public interest.
(c) It is found and declared that the use of incremental tax revenues
derived from the tax rates of various taxing districts in redevelopment
project areas for the payment of redevelopment project costs is of benefit
to said taxing districts for the reasons that taxing districts located in
redevelopment project areas would not derive the benefits of an increased
assessment base without the benefits of tax increment financing, all surplus
tax revenues are turned over to the taxing districts in redevelopment
project areas and all said districts benefit from the removal of blighted
conditions, the eradication of conditions requiring conservation
measures, and the development of industrial parks.
(Source: P.A. 84-1090.)
|
(65 ILCS 5/11-74.4-3) (from Ch. 24, par. 11-74.4-3)
Sec. 11-74.4-3. Definitions. The following terms, wherever used or
referred to in this Division 74.4 shall have the following respective meanings,
unless in any case a different meaning clearly appears from the context.
(a) For any redevelopment project area that has been designated pursuant
to this
Section by an ordinance adopted prior to November 1, 1999 (the effective
date of Public Act
91-478), "blighted area" shall have the meaning set
forth in this Section
prior to that date.
On and after November 1, 1999,
"blighted area" means any improved or vacant area within the boundaries
of a redevelopment project area located within the territorial limits of
the municipality where:
(1) If improved, industrial, commercial, and
| | residential buildings or improvements are detrimental to the public safety, health, or welfare because of a combination of 5 or more of the following factors, each of which is (i) present, with that presence documented, to a meaningful extent so that a municipality may reasonably find that the factor is clearly present within the intent of the Act and (ii) reasonably distributed throughout the improved part of the redevelopment project area:
|
|
(A) Dilapidation. An advanced state of disrepair
| | or neglect of necessary repairs to the primary structural components of buildings or improvements in such a combination that a documented building condition analysis determines that major repair is required or the defects are so serious and so extensive that the buildings must be removed.
|
|
(B) Obsolescence. The condition or process of
| | falling into disuse. Structures have become ill-suited for the original use.
|
|
(C) Deterioration. With respect to buildings,
| | defects including, but not limited to, major defects in the secondary building components such as doors, windows, porches, gutters and downspouts, and fascia. With respect to surface improvements, that the condition of roadways, alleys, curbs, gutters, sidewalks, off-street parking, and surface storage areas evidence deterioration, including, but not limited to, surface cracking, crumbling, potholes, depressions, loose paving material, and weeds protruding through paved surfaces.
|
|
(D) Presence of structures below minimum code
| | standards. All structures that do not meet the standards of zoning, subdivision, building, fire, and other governmental codes applicable to property, but not including housing and property maintenance codes.
|
|
(E) Illegal use of individual structures. The
| | use of structures in violation of applicable federal, State, or local laws, exclusive of those applicable to the presence of structures below minimum code standards.
|
|
(F) Excessive vacancies. The presence of
| | buildings that are unoccupied or under-utilized and that represent an adverse influence on the area because of the frequency, extent, or duration of the vacancies.
|
|
(G) Lack of ventilation, light, or sanitary
| | facilities. The absence of adequate ventilation for light or air circulation in spaces or rooms without windows, or that require the removal of dust, odor, gas, smoke, or other noxious airborne materials. Inadequate natural light and ventilation means the absence of skylights or windows for interior spaces or rooms and improper window sizes and amounts by room area to window area ratios. Inadequate sanitary facilities refers to the absence or inadequacy of garbage storage and enclosure, bathroom facilities, hot water and kitchens, and structural inadequacies preventing ingress and egress to and from all rooms and units within a building.
|
|
(H) Inadequate utilities. Underground and
| | overhead utilities such as storm sewers and storm drainage, sanitary sewers, water lines, and gas, telephone, and electrical services that are shown to be inadequate. Inadequate utilities are those that are: (i) of insufficient capacity to serve the uses in the redevelopment project area, (ii) deteriorated, antiquated, obsolete, or in disrepair, or (iii) lacking within the redevelopment project area.
|
|
(I) Excessive land coverage and overcrowding of
| | structures and community facilities. The over-intensive use of property and the crowding of buildings and accessory facilities onto a site. Examples of problem conditions warranting the designation of an area as one exhibiting excessive land coverage are: (i) the presence of buildings either improperly situated on parcels or located on parcels of inadequate size and shape in relation to present-day standards of development for health and safety and (ii) the presence of multiple buildings on a single parcel. For there to be a finding of excessive land coverage, these parcels must exhibit one or more of the following conditions: insufficient provision for light and air within or around buildings, increased threat of spread of fire due to the close proximity of buildings, lack of adequate or proper access to a public right-of-way, lack of reasonably required off-street parking, or inadequate provision for loading and service.
|
|
(J) Deleterious land use or layout. The
| | existence of incompatible land-use relationships, buildings occupied by inappropriate mixed-uses, or uses considered to be noxious, offensive, or unsuitable for the surrounding area.
|
|
(K) Environmental clean-up. The proposed
| | redevelopment project area has incurred Illinois Environmental Protection Agency or United States Environmental Protection Agency remediation costs for, or a study conducted by an independent consultant recognized as having expertise in environmental remediation has determined a need for, the clean-up of hazardous waste, hazardous substances, or underground storage tanks required by State or federal law, provided that the remediation costs constitute a material impediment to the development or redevelopment of the redevelopment project area.
|
|
(L) Lack of community planning. The proposed
| | redevelopment project area was developed prior to or without the benefit or guidance of a community plan. This means that the development occurred prior to the adoption by the municipality of a comprehensive or other community plan or that the plan was not followed at the time of the area's development. This factor must be documented by evidence of adverse or incompatible land-use relationships, inadequate street layout, improper subdivision, parcels of inadequate shape and size to meet contemporary development standards, or other evidence demonstrating an absence of effective community planning.
|
|
(M) The total equalized assessed value of the
| | proposed redevelopment project area has declined for 3 of the last 5 calendar years prior to the year in which the redevelopment project area is designated or is increasing at an annual rate that is less than the balance of the municipality for 3 of the last 5 calendar years for which information is available or is increasing at an annual rate that is less than the Consumer Price Index for All Urban Consumers published by the United States Department of Labor or successor agency for 3 of the last 5 calendar years prior to the year in which the redevelopment project area is designated.
|
|
(2) If vacant, the sound growth of the redevelopment
| | project area is impaired by a combination of 2 or more of the following factors, each of which is (i) present, with that presence documented, to a meaningful extent so that a municipality may reasonably find that the factor is clearly present within the intent of the Act and (ii) reasonably distributed throughout the vacant part of the redevelopment project area to which it pertains:
|
|
(A) Obsolete platting of vacant land that results
| | in parcels of limited or narrow size or configurations of parcels of irregular size or shape that would be difficult to develop on a planned basis and in a manner compatible with contemporary standards and requirements, or platting that failed to create rights-of-ways for streets or alleys or that created inadequate right-of-way widths for streets, alleys, or other public rights-of-way or that omitted easements for public utilities.
|
|
(B) Diversity of ownership of parcels of vacant
| | land sufficient in number to retard or impede the ability to assemble the land for development.
|
|
(C) Tax and special assessment delinquencies
| | exist or the property has been the subject of tax sales under the Property Tax Code within the last 5 years.
|
|
(D) Deterioration of structures or site
| | improvements in neighboring areas adjacent to the vacant land.
|
|
(E) The area has incurred Illinois Environmental
| | Protection Agency or United States Environmental Protection Agency remediation costs for, or a study conducted by an independent consultant recognized as having expertise in environmental remediation has determined a need for, the clean-up of hazardous waste, hazardous substances, or underground storage tanks required by State or federal law, provided that the remediation costs constitute a material impediment to the development or redevelopment of the redevelopment project area.
|
|
(F) The total equalized assessed value of the
| | proposed redevelopment project area has declined for 3 of the last 5 calendar years prior to the year in which the redevelopment project area is designated or is increasing at an annual rate that is less than the balance of the municipality for 3 of the last 5 calendar years for which information is available or is increasing at an annual rate that is less than the Consumer Price Index for All Urban Consumers published by the United States Department of Labor or successor agency for 3 of the last 5 calendar years prior to the year in which the redevelopment project area is designated.
|
|
(3) If vacant, the sound growth of the redevelopment
| | project area is impaired by one of the following factors that (i) is present, with that presence documented, to a meaningful extent so that a municipality may reasonably find that the factor is clearly present within the intent of the Act and (ii) is reasonably distributed throughout the vacant part of the redevelopment project area to which it pertains:
|
|
(A) The area consists of one or more unused
| | quarries, mines, or strip mine ponds.
|
|
(B) The area consists of unused rail yards, rail
| | tracks, or railroad rights-of-way.
|
|
(C) The area, prior to its designation, is
| | subject to (i) chronic flooding that adversely impacts on real property in the area as certified by a registered professional engineer or appropriate regulatory agency or (ii) surface water that discharges from all or a part of the area and contributes to flooding within the same watershed, but only if the redevelopment project provides for facilities or improvements to contribute to the alleviation of all or part of the flooding.
|
|
(D) The area consists of an unused or illegal
| | disposal site containing earth, stone, building debris, or similar materials that were removed from construction, demolition, excavation, or dredge sites.
|
|
(E) Prior to November 1, 1999, the area is not
| | less than 50 nor more than 100 acres and 75% of which is vacant (notwithstanding that the area has been used for commercial agricultural purposes within 5 years prior to the designation of the redevelopment project area), and the area meets at least one of the factors itemized in paragraph (1) of this subsection, the area has been designated as a town or village center by ordinance or comprehensive plan adopted prior to January 1, 1982, and the area has not been developed for that designated purpose.
|
|
(F) The area qualified as a blighted improved
| | area immediately prior to becoming vacant, unless there has been substantial private investment in the immediately surrounding area.
|
|
(b) For any redevelopment project area that has been designated pursuant
to this
Section by an ordinance adopted prior to November 1, 1999 (the effective
date of Public Act
91-478), "conservation area" shall have the meaning
set forth in this
Section prior to that date.
On and after November 1, 1999,
"conservation area" means any improved area within the boundaries
of a redevelopment project area located within the territorial limits of
the municipality in which 50% or more of the structures in the area have
an age of 35 years or more.
Such an area is not yet a blighted area but
because of a combination of 3 or more of the following factors is detrimental
to the public safety, health, morals
or welfare and such an area may become a blighted area:
(1) Dilapidation. An advanced state of disrepair or
| | neglect of necessary repairs to the primary structural components of buildings or improvements in such a combination that a documented building condition analysis determines that major repair is required or the defects are so serious and so extensive that the buildings must be removed.
|
|
(2) Obsolescence. The condition or process of
| | falling into disuse. Structures have become ill-suited for the original use.
|
|
(3) Deterioration. With respect to buildings,
| | defects including, but not limited to, major defects in the secondary building components such as doors, windows, porches, gutters and downspouts, and fascia. With respect to surface improvements, that the condition of roadways, alleys, curbs, gutters, sidewalks, off-street parking, and surface storage areas evidence deterioration, including, but not limited to, surface cracking, crumbling, potholes, depressions, loose paving material, and weeds protruding through paved surfaces.
|
|
(4) Presence of structures below minimum code
| | standards. All structures that do not meet the standards of zoning, subdivision, building, fire, and other governmental codes applicable to property, but not including housing and property maintenance codes.
|
|
(5) Illegal use of individual structures. The use of
| | structures in violation of applicable federal, State, or local laws, exclusive of those applicable to the presence of structures below minimum code standards.
|
|
(6) Excessive vacancies. The presence of buildings
| | that are unoccupied or under-utilized and that represent an adverse influence on the area because of the frequency, extent, or duration of the vacancies.
|
|
(7) Lack of ventilation, light, or sanitary
| | facilities. The absence of adequate ventilation for light or air circulation in spaces or rooms without windows, or that require the removal of dust, odor, gas, smoke, or other noxious airborne materials. Inadequate natural light and ventilation means the absence or inadequacy of skylights or windows for interior spaces or rooms and improper window sizes and amounts by room area to window area ratios. Inadequate sanitary facilities refers to the absence or inadequacy of garbage storage and enclosure, bathroom facilities, hot water and kitchens, and structural inadequacies preventing ingress and egress to and from all rooms and units within a building.
|
|
(8) Inadequate utilities. Underground and overhead
| | utilities such as storm sewers and storm drainage, sanitary sewers, water lines, and gas, telephone, and electrical services that are shown to be inadequate. Inadequate utilities are those that are: (i) of insufficient capacity to serve the uses in the redevelopment project area, (ii) deteriorated, antiquated, obsolete, or in disrepair, or (iii) lacking within the redevelopment project area.
|
|
(9) Excessive land coverage and overcrowding of
| | structures and community facilities. The over-intensive use of property and the crowding of buildings and accessory facilities onto a site. Examples of problem conditions warranting the designation of an area as one exhibiting excessive land coverage are: the presence of buildings either improperly situated on parcels or located on parcels of inadequate size and shape in relation to present-day standards of development for health and safety and the presence of multiple buildings on a single parcel. For there to be a finding of excessive land coverage, these parcels must exhibit one or more of the following conditions: insufficient provision for light and air within or around buildings, increased threat of spread of fire due to the close proximity of buildings, lack of adequate or proper access to a public right-of-way, lack of reasonably required off-street parking, or inadequate provision for loading and service.
|
|
(10) Deleterious land use or layout. The existence
| | of incompatible land-use relationships, buildings occupied by inappropriate mixed-uses, or uses considered to be noxious, offensive, or unsuitable for the surrounding area.
|
|
(11) Lack of community planning. The proposed
| | redevelopment project area was developed prior to or without the benefit or guidance of a community plan. This means that the development occurred prior to the adoption by the municipality of a comprehensive or other community plan or that the plan was not followed at the time of the area's development. This factor must be documented by evidence of adverse or incompatible land-use relationships, inadequate street layout, improper subdivision, parcels of inadequate shape and size to meet contemporary development standards, or other evidence demonstrating an absence of effective community planning.
|
|
(12) The area has incurred Illinois Environmental
| | Protection Agency or United States Environmental Protection Agency remediation costs for, or a study conducted by an independent consultant recognized as having expertise in environmental remediation has determined a need for, the clean-up of hazardous waste, hazardous substances, or underground storage tanks required by State or federal law, provided that the remediation costs constitute a material impediment to the development or redevelopment of the redevelopment project area.
|
|
(13) The total equalized assessed value of the
| | proposed redevelopment project area has declined for 3 of the last 5 calendar years for which information is available or is increasing at an annual rate that is less than the balance of the municipality for 3 of the last 5 calendar years for which information is available or is increasing at an annual rate that is less than the Consumer Price Index for All Urban Consumers published by the United States Department of Labor or successor agency for 3 of the last 5 calendar years for which information is available.
|
|
(c) "Industrial park" means an area in a blighted or conservation
area suitable for use by any manufacturing, industrial, research or
transportation enterprise, of facilities to include but not be limited to
factories, mills, processing plants, assembly plants, packing plants,
fabricating plants, industrial distribution centers, warehouses, repair
overhaul or service facilities, freight terminals, research facilities,
test facilities or railroad facilities.
(d) "Industrial park conservation area" means an area within the
boundaries of a redevelopment project area located within the territorial
limits of a municipality that is a labor surplus municipality or within 1
1/2 miles of the territorial limits of a municipality that is a labor
surplus municipality if the area is annexed to the municipality; which
area is zoned as industrial no later than at the time the municipality by
ordinance designates the redevelopment project area, and which area
includes both vacant land suitable for use as an industrial park and a
blighted area or conservation area contiguous to such vacant land.
(e) "Labor surplus municipality" means a municipality in which, at any
time during the 6 months before the municipality by ordinance designates
an industrial park conservation area, the unemployment rate was over 6% and was
also 100% or more of the national average unemployment rate for that same
time as published in the United States Department of Labor Bureau of Labor
Statistics publication entitled "The Employment Situation" or its successor
publication. For the purpose of this subsection, if unemployment rate
statistics for the municipality are not available, the unemployment rate in
the municipality shall be deemed to be the same as the unemployment rate in
the principal county in which the municipality is located.
(f) "Municipality" shall mean a city, village, incorporated town, or a township that is located in the unincorporated portion of a county with 3 million or more inhabitants, if the county adopted an ordinance that approved the township's redevelopment plan.
(g) "Initial Sales Tax Amounts" means the amount of taxes paid under
the Retailers' Occupation Tax Act, Use Tax Act, Service Use Tax Act, the
Service Occupation Tax Act, the Municipal Retailers' Occupation Tax Act,
and the Municipal Service Occupation Tax Act by
retailers and servicemen on transactions at places located in a
State Sales Tax Boundary during the calendar year 1985.
(g-1) "Revised Initial Sales Tax Amounts" means the amount of taxes paid
under the Retailers' Occupation Tax Act, Use Tax Act, Service Use Tax Act, the
Service Occupation Tax Act, the Municipal Retailers' Occupation Tax Act,
and the Municipal Service Occupation Tax Act by retailers and servicemen on
transactions at places located within the State Sales Tax Boundary
revised pursuant to Section 11-74.4-8a(9) of this Act.
(h) "Municipal Sales Tax Increment" means an amount equal to the
increase in the aggregate amount of taxes paid to a municipality from the
Local Government Tax Fund arising from sales by retailers and servicemen
within the redevelopment project area or State Sales Tax Boundary, as
the case may be, for as long as the redevelopment project area or State
Sales Tax Boundary, as the case may be, exist over and above the aggregate
amount of taxes as certified by the Illinois Department of Revenue and paid
under the Municipal Retailers' Occupation Tax Act and the Municipal Service
Occupation Tax Act by retailers and servicemen, on transactions at places
of business located in the redevelopment project area or State Sales Tax
Boundary, as the case may be, during the
base year which shall be the calendar year immediately prior to the year in
which the municipality adopted tax increment allocation financing. For
purposes of computing the aggregate amount of such taxes for base years
occurring prior to 1985, the Department of Revenue shall determine the
Initial Sales Tax Amounts for such taxes and deduct therefrom an amount
equal to 4% of the aggregate amount of taxes per year for each year the
base year is prior to 1985, but not to exceed a total deduction of 12%.
The amount so determined shall be known as the "Adjusted Initial Sales Tax
Amounts". For purposes of determining the Municipal Sales Tax Increment,
the Department of Revenue shall for each period subtract from the amount
paid to the municipality from the Local Government Tax Fund arising from
sales by retailers and servicemen on transactions
located in the redevelopment project area or the State Sales Tax Boundary,
as the case may be, the certified Initial Sales Tax
Amounts, the Adjusted Initial Sales Tax Amounts or the Revised Initial
Sales Tax Amounts for the Municipal Retailers'
Occupation Tax Act and the Municipal Service
Occupation Tax Act. For the State Fiscal Year 1989, this calculation shall
be made by utilizing the calendar year 1987 to determine the tax amounts
received. For the State Fiscal Year 1990, this calculation shall be made
by utilizing the period from January 1, 1988, until September 30, 1988, to
determine the tax amounts received from retailers and servicemen pursuant
to the Municipal Retailers' Occupation Tax and the Municipal Service
Occupation Tax Act, which shall have deducted therefrom
nine-twelfths of the certified Initial Sales Tax Amounts, the Adjusted Initial
Sales Tax Amounts or the Revised Initial Sales Tax Amounts as appropriate.
For the State Fiscal Year 1991, this calculation shall be made by utilizing
the period from October 1, 1988, to June 30, 1989, to determine the tax
amounts received from retailers and servicemen pursuant to the Municipal
Retailers' Occupation Tax and the Municipal Service Occupation Tax Act
which shall have deducted therefrom nine-twelfths of the
certified Initial Sales Tax Amounts, Adjusted Initial Sales Tax
Amounts or the Revised Initial Sales Tax Amounts as appropriate. For every
State Fiscal Year thereafter, the applicable period shall be the 12 months
beginning July 1 and ending June 30 to determine the tax amounts received
which shall have deducted therefrom the certified Initial Sales Tax
Amounts, the Adjusted Initial Sales Tax Amounts or the Revised Initial
Sales Tax Amounts, as the case may be.
(i) "Net State Sales Tax Increment" means the sum of the following: (a)
80% of the first $100,000 of State Sales Tax Increment annually generated
within a State Sales Tax Boundary; (b) 60% of the amount in excess of
$100,000 but not exceeding $500,000 of State Sales Tax Increment annually
generated within a State Sales Tax Boundary; and (c) 40% of all amounts in
excess of $500,000 of State Sales Tax Increment annually generated within a
State Sales Tax Boundary. If, however, a municipality established a tax
increment financing district in a county with a population in excess of
3,000,000 before January 1, 1986, and the municipality entered into a
contract or issued bonds after January 1, 1986, but before December 31, 1986,
to finance redevelopment project costs within a State Sales Tax
Boundary, then the Net State Sales Tax Increment means, for the fiscal years
beginning July 1, 1990, and July 1, 1991, 100% of the State Sales Tax
Increment annually generated within a State Sales Tax Boundary; and
notwithstanding any other provision of this Act, for those fiscal years the
Department of Revenue shall distribute to those municipalities 100% of
their Net State Sales Tax Increment before any distribution to any other
municipality and regardless of whether or not those other municipalities
will receive 100% of their Net State Sales Tax Increment. For Fiscal Year
1999, and every year thereafter until the year 2007, for any municipality
that has not entered into a contract or has not issued bonds prior to June
1, 1988 to finance redevelopment project costs within a State Sales Tax
Boundary, the Net State Sales Tax Increment shall be calculated as follows:
By multiplying the Net State Sales Tax Increment by 90% in the State Fiscal
Year 1999; 80% in the State Fiscal Year 2000; 70% in the State Fiscal Year
2001; 60% in the State Fiscal Year 2002; 50% in the State Fiscal Year 2003; 40%
in the State Fiscal Year 2004; 30% in the State Fiscal Year 2005; 20% in
the State Fiscal Year 2006; and 10% in the State Fiscal Year 2007. No
payment shall be made for State Fiscal Year 2008 and thereafter.
Municipalities that issued bonds in connection with a redevelopment project
in a redevelopment project area within the State Sales Tax Boundary prior to
July 29, 1991,
or that entered into contracts in connection with a redevelopment project in
a redevelopment project area before June 1, 1988,
shall continue to receive their proportional share of the
Illinois Tax Increment Fund distribution until the date on which the
redevelopment project is completed or terminated.
If, however, a municipality that issued bonds in connection with a
redevelopment project in a redevelopment project area within the State Sales
Tax Boundary prior to July 29, 1991 retires the bonds prior to June 30, 2007 or
a municipality that entered into contracts in connection with a redevelopment
project in a redevelopment project area before June 1, 1988 completes the
contracts prior to June 30, 2007, then so long as the redevelopment project is
not
completed or is not terminated, the Net State Sales Tax Increment shall be
calculated, beginning on the date on which the bonds are retired or the
contracts are completed, as follows: By multiplying the Net State Sales Tax
Increment by 60% in the State Fiscal Year
2002; 50% in the State Fiscal Year 2003; 40% in the State Fiscal Year 2004; 30%
in the State Fiscal Year 2005; 20% in the State Fiscal Year 2006; and 10% in
the State Fiscal Year 2007. No payment shall be made for State Fiscal Year
2008 and thereafter.
Refunding of any bonds issued
prior to July 29, 1991, shall not alter the Net State Sales Tax Increment.
(j) "State Utility Tax Increment Amount" means an amount equal to the
aggregate increase in State electric and gas tax charges imposed on owners
and tenants, other than residential customers, of properties located within
the redevelopment project area under Section 9-222 of the Public Utilities
Act, over and above the aggregate of such charges as certified by the
Department of Revenue and paid by owners and tenants, other than
residential customers, of properties within the redevelopment project area
during the base year, which shall be the calendar year immediately prior to
the year of the adoption of the ordinance authorizing tax increment allocation
financing.
(k) "Net State Utility Tax Increment" means the sum of the following:
(a) 80% of the first $100,000 of State Utility Tax Increment annually
generated by a redevelopment project area; (b) 60% of the amount in excess
of $100,000 but not exceeding $500,000 of the State Utility Tax Increment
annually generated by a redevelopment project area; and (c) 40% of all
amounts in excess of $500,000 of State Utility Tax Increment annually
generated by a redevelopment project area. For the State Fiscal Year 1999,
and every year thereafter until the year 2007, for any municipality that
has not entered into a contract or has not issued bonds prior to June 1,
1988 to finance redevelopment project costs within a redevelopment project
area, the Net State Utility Tax Increment shall be calculated as follows:
By multiplying the Net State Utility Tax Increment by 90% in the State
Fiscal Year 1999; 80% in the State Fiscal Year 2000; 70% in the State
Fiscal Year 2001; 60% in the State Fiscal Year 2002; 50% in the State
Fiscal Year 2003; 40% in the State Fiscal Year 2004; 30% in the State
Fiscal Year 2005; 20% in the State Fiscal Year 2006; and 10% in the State
Fiscal Year 2007. No payment shall be made for the State Fiscal Year 2008
and thereafter.
Municipalities that issue bonds in connection with the redevelopment project
during the period from June 1, 1988 until 3 years after the effective date
of this Amendatory Act of 1988 shall receive the Net State Utility Tax
Increment, subject to appropriation, for 15 State Fiscal Years after the
issuance of such bonds. For the 16th through the 20th State Fiscal Years
after issuance of the bonds, the Net State Utility Tax Increment shall be
calculated as follows: By multiplying the Net State Utility Tax Increment
by 90% in year 16; 80% in year 17; 70% in year 18; 60% in year 19; and 50%
in year 20. Refunding of any bonds issued prior to June 1, 1988, shall not
alter the revised Net State Utility Tax Increment payments set forth above.
(l) "Obligations" mean bonds, loans, debentures, notes, special certificates
or other evidence of indebtedness issued by the municipality to carry out
a redevelopment project or to refund outstanding obligations.
(m) "Payment in lieu of taxes" means those estimated tax revenues from
real property in a redevelopment project area derived from real property that
has been acquired by a municipality
which according to the redevelopment project or plan is to be used for a
private use which taxing districts would have received had a municipality
not acquired the real property and adopted tax increment allocation
financing and which would result from
levies made after the time of the adoption of tax increment allocation
financing to the time the current equalized value of real property in the
redevelopment project area exceeds the total initial equalized value of
real property in said area.
(n) "Redevelopment plan" means the comprehensive program of
the municipality for development or redevelopment intended by the payment of
redevelopment project costs to reduce or eliminate those conditions the
existence of which qualified the redevelopment project area as
a "blighted
area" or "conservation area" or combination thereof or "industrial park
conservation area," and thereby to enhance the tax bases of the taxing
districts which extend into the redevelopment project area.
On and after November 1, 1999 (the effective date of
Public Act 91-478), no
redevelopment plan may be approved or amended that includes the development of
vacant land (i) with a golf course and related clubhouse and other facilities
or (ii) designated by federal, State, county, or municipal government as public
land for outdoor recreational activities or for nature preserves and used for
that purpose within 5
years prior to the adoption of the redevelopment plan. For the purpose of
this subsection, "recreational activities" is limited to mean camping and
hunting.
Each
redevelopment plan shall set forth in writing the program to be undertaken
to accomplish the objectives and shall include but not be limited to:
(A) an itemized list of estimated redevelopment
| |
(B) evidence indicating that the redevelopment
| | project area on the whole has not been subject to growth and development through investment by private enterprise;
|
|
(C) an assessment of any financial impact of the
| | redevelopment project area on or any increased demand for services from any taxing district affected by the plan and any program to address such financial impact or increased demand;
|
|
(D) the sources of funds to pay costs;
(E) the nature and term of the obligations to be
| |
(F) the most recent equalized assessed valuation of
| | the redevelopment project area;
|
|
(G) an estimate as to the equalized assessed
| | valuation after redevelopment and the general land uses to apply in the redevelopment project area;
|
|
(H) a commitment to fair employment practices and an
| |
(I) if it concerns an industrial park conservation
| | area, the plan shall also include a general description of any proposed developer, user and tenant of any property, a description of the type, structure and general character of the facilities to be developed, a description of the type, class and number of new employees to be employed in the operation of the facilities to be developed; and
|
|
(J) if property is to be annexed to the municipality,
| | the plan shall include the terms of the annexation agreement.
|
|
The provisions of items (B) and (C) of this subsection (n) shall not apply to
a municipality that before March 14, 1994 (the effective date of Public Act
88-537) had fixed, either by its
corporate authorities or by a commission designated under subsection (k) of
Section 11-74.4-4, a time and place for a public hearing as required by
subsection (a) of Section 11-74.4-5.
No redevelopment plan shall be adopted unless a
municipality complies with all of the following requirements:
(1) The municipality finds that the redevelopment
| | project area on the whole has not been subject to growth and development through investment by private enterprise and would not reasonably be anticipated to be developed without the adoption of the redevelopment plan.
|
|
(2) The municipality finds that the redevelopment
| | plan and project conform 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 redevelopment plan and project was adopted, the redevelopment plan and project either: (i) conforms to the strategic economic development or redevelopment plan issued by the designated planning authority of the municipality, or (ii) includes land uses that have been approved by the planning commission of the municipality.
|
|
(3) The redevelopment plan establishes the estimated
| | dates of completion of the redevelopment project and retirement of obligations issued to finance redevelopment project costs. Those dates may not be later than the dates set forth under Section 11-74.4-3.5.
|
|
A municipality may by municipal ordinance amend an
| | existing redevelopment plan to conform to this paragraph (3) as amended by Public Act 91-478, which municipal ordinance may be adopted without further hearing or notice and without complying with the procedures provided in this Act pertaining to an amendment to or the initial approval of a redevelopment plan and project and designation of a redevelopment project area.
|
|
(3.5) The municipality finds, in the case of an
| | industrial park conservation area, also that the municipality is a labor surplus municipality and that the implementation of the redevelopment plan will reduce unemployment, create new jobs and by the provision of new facilities enhance the tax base of the taxing districts that extend into the redevelopment project area.
|
|
(4) If any incremental revenues are being utilized
| | under Section 8(a)(1) or 8(a)(2) of this Act in redevelopment project areas approved by ordinance after January 1, 1986, the municipality finds: (a) that the redevelopment project area would not reasonably be developed without the use of such incremental revenues, and (b) that such incremental revenues will be exclusively utilized for the development of the redevelopment project area.
|
|
(5) If the redevelopment plan will not result in
| | displacement of residents from 10 or more inhabited residential units, and the municipality certifies in the plan that such displacement will not result from the plan, a housing impact study need not be performed. If, however, the redevelopment plan would result in the displacement of residents from 10 or more inhabited residential units, or if the redevelopment project area contains 75 or more inhabited residential units and no certification is made, then the municipality shall prepare, as part of the separate feasibility report required by subsection (a) of Section 11-74.4-5, a housing impact study.
|
|
Part I of the housing impact study shall include (i)
| | data as to whether the residential units are single family or multi-family units, (ii) the number and type of rooms within the units, if that information is available, (iii) whether the units are inhabited or uninhabited, as determined not less than 45 days before the date that the ordinance or resolution required by subsection (a) of Section 11-74.4-5 is passed, and (iv) data as to the racial and ethnic composition of the residents in the inhabited residential units. The data requirement as to the racial and ethnic composition of the residents in the inhabited residential units shall be deemed to be fully satisfied by data from the most recent federal census.
|
|
Part II of the housing impact study shall identify
| | the inhabited residential units in the proposed redevelopment project area that are to be or may be removed. If inhabited residential units are to be removed, then the housing impact study shall identify (i) the number and location of those units that will or may be removed, (ii) the municipality's plans for relocation assistance for those residents in the proposed redevelopment project area whose residences are to be removed, (iii) the availability of replacement housing for those residents whose residences are to be removed, and shall identify the type, location, and cost of the housing, and (iv) the type and extent of relocation assistance to be provided.
|
|
(6) On and after November 1, 1999, the housing impact
| | study required by paragraph (5) shall be incorporated in the redevelopment plan for the redevelopment project area.
|
|
(7) On and after November 1, 1999, no redevelopment
| | plan shall be adopted, nor an existing plan amended, nor shall residential housing that is occupied by households of low-income and very low-income persons in currently existing redevelopment project areas be removed after November 1, 1999 unless the redevelopment plan provides, with respect to inhabited housing units that are to be removed for households of low-income and very low-income persons, affordable housing and relocation assistance not less than that which would be provided under the federal Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970 and the regulations under that Act, including the eligibility criteria. Affordable housing may be either existing or newly constructed housing. For purposes of this paragraph (7), "low-income households", "very low-income households", and "affordable housing" have the meanings set forth in the Illinois Affordable Housing Act. The municipality shall make a good faith effort to ensure that this affordable housing is located in or near the redevelopment project area within the municipality.
|
|
(8) On and after November 1, 1999, if, after the
| | adoption of the redevelopment plan for the redevelopment project area, any municipality desires to amend its redevelopment plan to remove more inhabited residential units than specified in its original redevelopment plan, that change shall be made in accordance with the procedures in subsection (c) of Section 11-74.4-5.
|
|
(9) For redevelopment project areas designated prior
| | to November 1, 1999, the redevelopment plan may be amended without further joint review board meeting or hearing, provided that the municipality shall give notice of any such changes by mail to each affected taxing district and registrant on the interested party registry, to authorize the municipality to expend tax increment revenues for redevelopment project costs defined by paragraphs (5) and (7.5), subparagraphs (E) and (F) of paragraph (11), and paragraph (11.5) of subsection (q) of Section 11-74.4-3, so long as the changes do not increase the total estimated redevelopment project costs set out in the redevelopment plan by more than 5% after adjustment for inflation from the date the plan was adopted.
|
|
(o) "Redevelopment project" means any public and private development project
in furtherance of the objectives of a redevelopment plan.
On and after November 1, 1999 (the effective date of Public Act 91-478), no
redevelopment plan may be approved or amended that includes the development
of vacant land (i) with a golf course and related clubhouse and other
facilities
or (ii) designated by federal, State, county, or municipal government as public
land for outdoor recreational activities or for nature preserves and used for
that purpose within 5
years prior to the adoption of the redevelopment plan. For the purpose of
this subsection, "recreational activities" is limited to mean camping and
hunting.
(p) "Redevelopment project area" means an area designated by
the
municipality, which is not less in the aggregate than 1 1/2 acres and in
respect to which the municipality has made a finding that there exist
conditions which cause the area to be classified as an industrial park
conservation area or a blighted area or a conservation area, or a
combination of both blighted areas and conservation areas.
(p-1) Notwithstanding any provision of this Act to the contrary, on and after August 25, 2009 (the effective date of Public Act 96-680), a redevelopment project area may include areas within a one-half mile radius of an existing or proposed Regional Transportation Authority Suburban Transit Access Route (STAR Line) station without a finding that the area is classified as an industrial park conservation area, a blighted area, a conservation area, or a combination thereof, but only if the municipality receives unanimous consent from the joint review board created to review the proposed redevelopment project area.
(q) "Redevelopment project costs", except for redevelopment project areas created pursuant to subsection (p-1), means and includes the sum total of all
reasonable or necessary costs incurred or estimated to be incurred, and
any such costs incidental to a redevelopment plan and a redevelopment
project. Such costs include, without limitation, the following:
(1) Costs of studies, surveys, development of plans,
| | and specifications, implementation and administration of the redevelopment plan including but not limited to staff and professional service costs for architectural, engineering, legal, financial, planning or other services, provided however that no charges for professional services may be based on a percentage of the tax increment collected; except that on and after November 1, 1999 (the effective date of Public Act 91-478), no contracts for professional services, excluding architectural and engineering services, may be entered into if the terms of the contract extend beyond a period of 3 years. In addition, "redevelopment project costs" shall not include lobbying expenses. After consultation with the municipality, each tax increment consultant or advisor to a municipality that plans to designate or has designated a redevelopment project area shall inform the municipality in writing of any contracts that the consultant or advisor has entered into with entities or individuals that have received, or are receiving, payments financed by tax increment revenues produced by the redevelopment project area with respect to which the consultant or advisor has performed, or will be performing, service for the municipality. This requirement shall be satisfied by the consultant or advisor before the commencement of services for the municipality and thereafter whenever any other contracts with those individuals or entities are executed by the consultant or advisor;
|
|
(1.5) After July 1, 1999, annual administrative costs
| | shall not include general overhead or administrative costs of the municipality that would still have been incurred by the municipality if the municipality had not designated a redevelopment project area or approved a redevelopment plan;
|
|
(1.6) The cost of marketing sites within the
| | redevelopment project area to prospective businesses, developers, and investors;
|
|
(2) Property assembly costs, including but not
| | limited to acquisition of land and other property, real or personal, or rights or interests therein, demolition of buildings, site preparation, site improvements that serve as an engineered barrier addressing ground level or below ground environmental contamination, including, but not limited to parking lots and other concrete or asphalt barriers, and the clearing and grading of land;
|
|
(3) Costs of rehabilitation, reconstruction or repair
| | or remodeling of existing public or private buildings, fixtures, and leasehold improvements; and the cost of replacing an existing public building if pursuant to the implementation of a redevelopment project the existing public building is to be demolished to use the site for private investment or devoted to a different use requiring private investment; including any direct or indirect costs relating to Green Globes or LEED certified construction elements or construction elements with an equivalent certification;
|
|
(4) Costs of the construction of public works or
| | improvements, including any direct or indirect costs relating to Green Globes or LEED certified construction elements or construction elements with an equivalent certification, except that on and after November 1, 1999, redevelopment project costs shall not include the cost of constructing a new municipal public building principally used to provide offices, storage space, or conference facilities or vehicle storage, maintenance, or repair for administrative, public safety, or public works personnel and that is not intended to replace an existing public building as provided under paragraph (3) of subsection (q) of Section 11-74.4-3 unless either (i) the construction of the new municipal building implements a redevelopment project that was included in a redevelopment plan that was adopted by the municipality prior to November 1, 1999 or (ii) the municipality makes a reasonable determination in the redevelopment plan, supported by information that provides the basis for that determination, that the new municipal building is required to meet an increase in the need for public safety purposes anticipated to result from the implementation of the redevelopment plan;
|
|
(5) Costs of job training and retraining projects,
| | including the cost of "welfare to work" programs implemented by businesses located within the redevelopment project area;
|
|
(6) Financing costs, including but not limited to all
| | necessary and incidental expenses related to the issuance of obligations and which may include payment of interest on any obligations issued hereunder including interest accruing during the estimated period of construction of any redevelopment project for which such obligations are issued and for not exceeding 36 months thereafter and including reasonable reserves related thereto;
|
|
(7) To the extent the municipality by written
| | agreement accepts and approves the same, all or a portion of a taxing district's capital costs resulting from the redevelopment project necessarily incurred or to be incurred within a taxing district in furtherance of the objectives of the redevelopment plan and project.
|
|
(7.5) For redevelopment project areas designated (or
| | redevelopment project areas amended to add or increase the number of tax-increment-financing assisted housing units) on or after November 1, 1999, an elementary, secondary, or unit school district's increased costs attributable to assisted housing units located within the redevelopment project area for which the developer or redeveloper receives financial assistance through an agreement with the municipality or because the municipality incurs the cost of necessary infrastructure improvements within the boundaries of the assisted housing sites necessary for the completion of that housing as authorized by this Act, and which costs shall be paid by the municipality from the Special Tax Allocation Fund when the tax increment revenue is received as a result of the assisted housing units and shall be calculated annually as follows:
|
|
(A) for foundation districts, excluding any
| | school district in a municipality with a population in excess of 1,000,000, by multiplying the district's increase in attendance resulting from the net increase in new students enrolled in that school district who reside in housing units within the redevelopment project area that have received financial assistance through an agreement with the municipality or because the municipality incurs the cost of necessary infrastructure improvements within the boundaries of the housing sites necessary for the completion of that housing as authorized by this Act since the designation of the redevelopment project area by the most recently available per capita tuition cost as defined in Section 10-20.12a of the School Code less any increase in general State aid as defined in Section 18-8.05 of the School Code attributable to these added new students subject to the following annual limitations:
|
|
(i) for unit school districts with a district
| | average 1995-96 Per Capita Tuition Charge of less than $5,900, no more than 25% of the total amount of property tax increment revenue produced by those housing units that have received tax increment finance assistance under this Act;
|
|
(ii) for elementary school districts with a
| | district average 1995-96 Per Capita Tuition Charge of less than $5,900, no more than 17% of the total amount of property tax increment revenue produced by those housing units that have received tax increment finance assistance under this Act; and
|
|
(iii) for secondary school districts with a
| | district average 1995-96 Per Capita Tuition Charge of less than $5,900, no more than 8% of the total amount of property tax increment revenue produced by those housing units that have received tax increment finance assistance under this Act.
|
|
(B) For alternate method districts, flat grant
| | districts, and foundation districts with a district average 1995-96 Per Capita Tuition Charge equal to or more than $5,900, excluding any school district with a population in excess of 1,000,000, by multiplying the district's increase in attendance resulting from the net increase in new students enrolled in that school district who reside in housing units within the redevelopment project area that have received financial assistance through an agreement with the municipality or because the municipality incurs the cost of necessary infrastructure improvements within the boundaries of the housing sites necessary for the completion of that housing as authorized by this Act since the designation of the redevelopment project area by the most recently available per capita tuition cost as defined in Section 10-20.12a of the School Code less any increase in general state aid as defined in Section 18-8.05 of the School Code attributable to these added new students subject to the following annual limitations:
|
|
(i) for unit school districts, no more than
| | 40% of the total amount of property tax increment revenue produced by those housing units that have received tax increment finance assistance under this Act;
|
|
(ii) for elementary school districts, no more
| | than 27% of the total amount of property tax increment revenue produced by those housing units that have received tax increment finance assistance under this Act; and
|
|
(iii) for secondary school districts, no more
| | than 13% of the total amount of property tax increment revenue produced by those housing units that have received tax increment finance assistance under this Act.
|
|
(C) For any school district in a municipality
| | with a population in excess of 1,000,000, the following restrictions shall apply to the reimbursement of increased costs under this paragraph (7.5):
|
|
(i) no increased costs shall be reimbursed
| | unless the school district certifies that each of the schools affected by the assisted housing project is at or over its student capacity;
|
|
(ii) the amount reimbursable shall be reduced
| | by the value of any land donated to the school district by the municipality or developer, and by the value of any physical improvements made to the schools by the municipality or developer; and
|
|
(iii) the amount reimbursed may not affect
| | amounts otherwise obligated by the terms of any bonds, notes, or other funding instruments, or the terms of any redevelopment agreement.
|
|
Any school district seeking payment under this
| | paragraph (7.5) shall, after July 1 and before September 30 of each year, provide the municipality with reasonable evidence to support its claim for reimbursement before the municipality shall be required to approve or make the payment to the school district. If the school district fails to provide the information during this period in any year, it shall forfeit any claim to reimbursement for that year. School districts may adopt a resolution waiving the right to all or a portion of the reimbursement otherwise required by this paragraph (7.5). By acceptance of this reimbursement the school district waives the right to directly or indirectly set aside, modify, or contest in any manner the establishment of the redevelopment project area or projects;
|
|
(7.7) For redevelopment project areas designated (or
| | redevelopment project areas amended to add or increase the number of tax-increment-financing assisted housing units) on or after January 1, 2005 (the effective date of Public Act 93-961), a public library district's increased costs attributable to assisted housing units located within the redevelopment project area for which the developer or redeveloper receives financial assistance through an agreement with the municipality or because the municipality incurs the cost of necessary infrastructure improvements within the boundaries of the assisted housing sites necessary for the completion of that housing as authorized by this Act shall be paid to the library district by the municipality from the Special Tax Allocation Fund when the tax increment revenue is received as a result of the assisted housing units. This paragraph (7.7) applies only if (i) the library district is located in a county that is subject to the Property Tax Extension Limitation Law or (ii) the library district is not located in a county that is subject to the Property Tax Extension Limitation Law but the district is prohibited by any other law from increasing its tax levy rate without a prior voter referendum.
|
|
The amount paid to a library district under this
| | paragraph (7.7) shall be calculated by multiplying (i) the net increase in the number of persons eligible to obtain a library card in that district who reside in housing units within the redevelopment project area that have received financial assistance through an agreement with the municipality or because the municipality incurs the cost of necessary infrastructure improvements within the boundaries of the housing sites necessary for the completion of that housing as authorized by this Act since the designation of the redevelopment project area by (ii) the per-patron cost of providing library services so long as it does not exceed $120. The per-patron cost shall be the Total Operating Expenditures Per Capita for the library in the previous fiscal year. The municipality may deduct from the amount that it must pay to a library district under this paragraph any amount that it has voluntarily paid to the library district from the tax increment revenue. The amount paid to a library district under this paragraph (7.7) shall be no more than 2% of the amount produced by the assisted housing units and deposited into the Special Tax Allocation Fund.
|
|
A library district is not eligible for any payment
| | under this paragraph (7.7) unless the library district has experienced an increase in the number of patrons from the municipality that created the tax-increment-financing district since the designation of the redevelopment project area.
|
|
Any library district seeking payment under this
| | paragraph (7.7) shall, after July 1 and before September 30 of each year, provide the municipality with convincing evidence to support its claim for reimbursement before the municipality shall be required to approve or make the payment to the library district. If the library district fails to provide the information during this period in any year, it shall forfeit any claim to reimbursement for that year. Library districts may adopt a resolution waiving the right to all or a portion of the reimbursement otherwise required by this paragraph (7.7). By acceptance of such reimbursement, the library district shall forfeit any right to directly or indirectly set aside, modify, or contest in any manner whatsoever the establishment of the redevelopment project area or projects;
|
|
(8) Relocation costs to the extent that a
| | municipality determines that relocation costs shall be paid or is required to make payment of relocation costs by federal or State law or in order to satisfy subparagraph (7) of subsection (n);
|
|
(9) Payment in lieu of taxes;
(10) Costs of job training, retraining, advanced
| | vocational education or career education, including but not limited to courses in occupational, semi-technical or technical fields leading directly to employment, incurred by one or more taxing districts, provided that such costs (i) are related to the establishment and maintenance of additional job training, advanced vocational education or career education programs for persons employed or to be employed by employers located in a redevelopment project area; and (ii) when incurred by a taxing district or taxing districts other than the municipality, are set forth in a written agreement by or among the municipality and the taxing district or taxing districts, which agreement describes the program to be undertaken, including but not limited to the number of employees to be trained, a description of the training and services to be provided, the number and type of positions available or to be available, itemized costs of the program and sources of funds to pay for the same, and the term of the agreement. Such costs include, specifically, the payment by community college districts of costs pursuant to Sections 3-37, 3-38, 3-40 and 3-40.1 of the Public Community College Act and by school districts of costs pursuant to Sections 10-22.20a and 10-23.3a of The School Code;
|
|
(11) Interest cost incurred by a redeveloper related
| | to the construction, renovation or rehabilitation of a redevelopment project provided that:
|
|
(A) such costs are to be paid directly from the
| | special tax allocation fund established pursuant to this Act;
|
|
(B) such payments in any one year may not exceed
| | 30% of the annual interest costs incurred by the redeveloper with regard to the redevelopment project during that year;
|
|
(C) if there are not sufficient funds available
| | in the special tax allocation fund to make the payment pursuant to this paragraph (11) then the amounts so due shall accrue and be payable when sufficient funds are available in the special tax allocation fund;
|
|
(D) the total of such interest payments paid
| | pursuant to this Act may not exceed 30% of the total (i) cost paid or incurred by the redeveloper for the redevelopment project plus (ii) redevelopment project costs excluding any property assembly costs and any relocation costs incurred by a municipality pursuant to this Act; and
|
|
(E) the cost limits set forth in subparagraphs
| | (B) and (D) of paragraph (11) shall be modified for the financing of rehabilitated or new housing units for low-income households and very low-income households, as defined in Section 3 of the Illinois Affordable Housing Act. The percentage of 75% shall be substituted for 30% in subparagraphs (B) and (D) of paragraph (11).
|
|
(F) Instead of the eligible costs provided by
| | subparagraphs (B) and (D) of paragraph (11), as modified by this subparagraph, and notwithstanding any other provisions of this Act to the contrary, the municipality may pay from tax increment revenues up to 50% of the cost of construction of new housing units to be occupied by low-income households and very low-income households as defined in Section 3 of the Illinois Affordable Housing Act. The cost of construction of those units may be derived from the proceeds of bonds issued by the municipality under this Act or other constitutional or statutory authority or from other sources of municipal revenue that may be reimbursed from tax increment revenues or the proceeds of bonds issued to finance the construction of that housing.
|
|
The eligible costs provided under this
| | subparagraph (F) of paragraph (11) shall be an eligible cost for the construction, renovation, and rehabilitation of all low and very low-income housing units, as defined in Section 3 of the Illinois Affordable Housing Act, within the redevelopment project area. If the low and very low-income units are part of a residential redevelopment project that includes units not affordable to low and very low-income households, only the low and very low-income units shall be eligible for benefits under subparagraph (F) of paragraph (11). The standards for maintaining the occupancy by low-income households and very low-income households, as defined in Section 3 of the Illinois Affordable Housing Act, of those units constructed with eligible costs made available under the provisions of this subparagraph (F) of paragraph (11) shall be established by guidelines adopted by the municipality. The responsibility for annually documenting the initial occupancy of the units by low-income households and very low-income households, as defined in Section 3 of the Illinois Affordable Housing Act, shall be that of the then current owner of the property. For ownership units, the guidelines will provide, at a minimum, for a reasonable recapture of funds, or other appropriate methods designed to preserve the original affordability of the ownership units. For rental units, the guidelines will provide, at a minimum, for the affordability of rent to low and very low-income households. As units become available, they shall be rented to income-eligible tenants. The municipality may modify these guidelines from time to time; the guidelines, however, shall be in effect for as long as tax increment revenue is being used to pay for costs associated with the units or for the retirement of bonds issued to finance the units or for the life of the redevelopment project area, whichever is later.
|
|
(11.5) If the redevelopment project area is located
| | within a municipality with a population of more than 100,000, the cost of day care services for children of employees from low-income families working for businesses located within the redevelopment project area and all or a portion of the cost of operation of day care centers established by redevelopment project area businesses to serve employees from low-income families working in businesses located in the redevelopment project area. For the purposes of this paragraph, "low-income families" means families whose annual income does not exceed 80% of the municipal, county, or regional median income, adjusted for family size, as the annual income and municipal, county, or regional median income are determined from time to time by the United States Department of Housing and Urban Development.
|
|
(12) Unless explicitly stated herein the cost of
| | construction of new privately-owned buildings shall not be an eligible redevelopment project cost.
|
|
(13) After November 1, 1999 (the effective date of
| | Public Act 91-478), none of the redevelopment project costs enumerated in this subsection shall be eligible redevelopment project costs if those costs would provide direct financial support to a retail entity initiating operations in the redevelopment project area while terminating operations at another Illinois location within 10 miles of the redevelopment project area but outside the boundaries of the redevelopment project area municipality. For purposes of this paragraph, termination means a closing of a retail operation that is directly related to the opening of the same operation or like retail entity owned or operated by more than 50% of the original ownership in a redevelopment project area, but it does not mean closing an operation for reasons beyond the control of the retail entity, as documented by the retail entity, subject to a reasonable finding by the municipality that the current location contained inadequate space, had become economically obsolete, or was no longer a viable location for the retailer or serviceman.
|
|
(14) No cost shall be a redevelopment project cost in
| | a redevelopment project area if used to demolish, remove, or substantially modify a historic resource, after August 26, 2008 (the effective date of Public Act 95-934), unless no prudent and feasible alternative exists. "Historic resource" for the purpose of this item (14) means (i) a place or structure that is included or eligible for inclusion on the National Register of Historic Places or (ii) a contributing structure in a district on the National Register of Historic Places. This item (14) does not apply to a place or structure for which demolition, removal, or modification is subject to review by the preservation agency of a Certified Local Government designated as such by the National Park Service of the United States Department of the Interior.
|
| If a special service area has been established pursuant to
the Special Service Area Tax Act or Special Service Area Tax Law, then any
tax increment revenues derived
from the tax imposed pursuant to the Special Service Area Tax Act or Special
Service Area Tax Law may
be used within the redevelopment project area for the purposes permitted by
that Act or Law as well as the purposes permitted by this Act.
(q-1) For redevelopment project areas created pursuant to subsection (p-1), redevelopment project costs are limited to those costs in paragraph (q) that are related to the existing or proposed Regional Transportation Authority Suburban Transit Access Route (STAR Line) station.
(r) "State Sales Tax Boundary" means the redevelopment project area or
the amended redevelopment project area boundaries which are determined
pursuant to subsection (9) of Section 11-74.4-8a of this
Act. The Department of Revenue shall certify pursuant to subsection (9) of
Section 11-74.4-8a the appropriate boundaries eligible for the
determination of State Sales Tax Increment.
(s) "State Sales Tax Increment" means an amount equal to the increase
in the aggregate amount of taxes paid by retailers and servicemen, other
than retailers and servicemen subject to the Public Utilities Act,
on transactions at places of business located within a State Sales Tax
Boundary pursuant to the Retailers' Occupation Tax Act, the Use Tax Act,
the Service Use Tax Act, and the Service Occupation Tax Act, except such
portion of such increase that is paid into the State and Local Sales Tax
Reform Fund, the Local Government Distributive Fund, the Local
Government Tax Fund and the County and Mass Transit District Fund, for as
long as State participation exists, over and above the Initial Sales Tax
Amounts, Adjusted Initial Sales Tax Amounts or the Revised Initial Sales
Tax Amounts for such taxes as certified by the Department of Revenue and
paid under those Acts by retailers and servicemen on transactions at places
of business located within the State Sales Tax Boundary during the base
year which shall be the calendar year immediately prior to the year in
which the municipality adopted tax increment allocation financing, less
3.0% of such amounts generated under the Retailers' Occupation Tax Act, Use
Tax Act and Service Use Tax Act and the Service Occupation Tax Act, which
sum shall be appropriated to the Department of Revenue to cover its costs
of administering and enforcing this Section. For purposes of computing the
aggregate amount of such taxes for base years occurring prior to 1985, the
Department of Revenue shall compute the Initial Sales Tax Amount for such
taxes and deduct therefrom an amount equal to 4% of the aggregate amount of
taxes per year for each year the base year is prior to 1985, but not to
exceed a total deduction of 12%. The amount so determined shall be known
as the "Adjusted Initial Sales Tax Amount". For purposes of determining the
State Sales Tax Increment the Department of Revenue shall for each period
subtract from the tax amounts received from retailers and servicemen on
transactions located in the State Sales Tax Boundary, the certified Initial
Sales Tax Amounts, Adjusted Initial Sales Tax Amounts or Revised Initial
Sales Tax Amounts for the Retailers' Occupation Tax Act, the Use Tax Act,
the Service Use Tax Act and the Service Occupation Tax Act. For the State
Fiscal Year 1989 this calculation shall be made by utilizing the calendar
year 1987 to determine the tax amounts received. For the State Fiscal Year
1990, this calculation shall be made by utilizing the period from January
1, 1988, until September 30, 1988, to determine the tax amounts received
from retailers and servicemen, which shall have deducted therefrom
nine-twelfths of the certified Initial Sales Tax Amounts, Adjusted Initial
Sales Tax Amounts or the Revised Initial Sales Tax Amounts as appropriate.
For the State Fiscal Year 1991, this calculation shall be made by utilizing
the period from October 1, 1988, until June 30, 1989, to determine the tax
amounts received from retailers and servicemen, which shall have
deducted therefrom nine-twelfths of the certified Initial State Sales Tax
Amounts, Adjusted Initial Sales Tax Amounts or the Revised Initial Sales
Tax Amounts as appropriate. For every State Fiscal Year thereafter, the
applicable period shall be the 12 months beginning July 1 and ending on
June 30, to determine the tax amounts received which shall have deducted
therefrom the certified Initial Sales Tax Amounts, Adjusted Initial Sales
Tax Amounts or the Revised Initial Sales Tax Amounts. Municipalities
intending to receive a distribution of State Sales Tax Increment must
report a list of retailers to the Department of Revenue by October 31, 1988
and by July 31, of each year thereafter.
(t) "Taxing districts" means counties, townships, cities and incorporated
towns and villages, school, road, park, sanitary, mosquito abatement, forest
preserve, public health, fire protection, river conservancy, tuberculosis
sanitarium and any other municipal corporations or districts with the power
to levy taxes.
(u) "Taxing districts' capital costs" means those costs of taxing districts
for capital improvements that are found by the municipal corporate authorities
to be necessary and directly result from the redevelopment project.
(v) As used in subsection (a) of Section 11-74.4-3 of this
Act, "vacant
land" means any parcel or combination of parcels of real property without
industrial, commercial, and residential buildings which has not been used
for commercial agricultural purposes within 5 years prior to the
designation of the redevelopment project area, unless the parcel
is included in an industrial park conservation area or the parcel has
been subdivided; provided that if the parcel was part of a larger tract that
has been divided into 3 or more smaller tracts that were accepted for
recording during the period from 1950 to 1990, then the parcel shall be deemed
to have been subdivided, and all proceedings and actions of the municipality
taken in that connection with respect to any previously approved or designated
redevelopment project area or amended redevelopment project area are hereby
validated and hereby declared to be legally sufficient for all purposes of this
Act.
For purposes of this Section and only for land subject to
the subdivision requirements of the Plat Act, land is subdivided when the
original plat of
the proposed Redevelopment Project Area or relevant portion thereof has
been
properly certified, acknowledged, approved, and recorded or filed in accordance
with the Plat Act and a preliminary plat, if any, for any subsequent phases of
the
proposed Redevelopment Project Area or relevant portion thereof has been
properly approved and filed in accordance with the applicable ordinance of the
municipality.
(w) "Annual Total Increment" means the sum of each municipality's
annual Net Sales Tax Increment and each municipality's annual Net Utility
Tax Increment. The ratio of the Annual Total Increment of each
municipality to the Annual Total Increment for all municipalities, as most
recently calculated by the Department, shall determine the proportional
shares of the Illinois Tax Increment Fund to be distributed to each
municipality.
(x) "LEED certified" means any certification level of construction elements by a qualified Leadership in Energy and Environmental Design Accredited Professional as determined by the U.S. Green Building Council.
(y) "Green Globes certified" means any certification level of construction elements by a qualified Green Globes Professional as determined by the Green Building Initiative.
(Source: P.A. 96-328, eff. 8-11-09; 96-630, eff. 1-1-10; 96-680, eff. 8-25-09; 96-1000, eff. 7-2-10; 97-101, eff. 1-1-12.)
|
(65 ILCS 5/11-74.4-3.1)
Sec. 11-74.4-3.1. Redevelopment project area within an intermodal terminal facility area.
(a) Notwithstanding any other provision of law to the contrary, if a municipality designates an area within the territorial limits of the municipality as an intermodal terminal facility area, then that municipality may establish a redevelopment project area within the intermodal terminal facility area for the purpose of developing new intermodal terminal facilities, rehabilitating obsolete intermodal terminal facilities, or both. If there is no existing intermodal terminal facility within the redevelopment project area, then the municipality must establish a new intermodal terminal facility within the redevelopment project area. If there is an obsolete intermodal terminal facility within the redevelopment project area, then the municipality may establish a new intermodal terminal facility, rehabilitate the existing intermodal terminal facility for use as an intermodal terminal facility or for any other commercial purpose, or both.
(b) For purposes of this Division, an intermodal terminal facility area is deemed to be a blighted area and no proof of blight need be shown in establishing a redevelopment project area in accordance with this Section.
(c) As used in this Section:
"Intermodal terminal facility area" means an area that: (i) does not include any existing intermodal terminal facility or includes an obsolete intermodal terminal facility; (ii) comprises a minimum of 150 acres and not more than 2 square miles in total area, exclusive of lakes and waterways; (iii) has at least one Class 1 railroad right-of-way located within it or within one quarter mile of it; and (iv) has no boundary limit further than 3 miles from the right-of-way.
"Intermodal terminal facility" means land, improvements to land, equipment, and appliances necessary for the receipt and transfer of goods between one mode of transportation and another, at least one of which must be transportation by rail.
(Source: P.A. 94-546, eff. 1-1-06.)
|
(65 ILCS 5/11-74.4-3.5)
(Text of Section from P.A. 98-1136)
Sec. 11-74.4-3.5. Completion dates for redevelopment projects.
(a) Unless otherwise stated in this Section, the estimated dates of completion
of the redevelopment project and retirement of obligations issued to finance
redevelopment project costs (including refunding bonds under Section 11-74.4-7) may not be
later than December 31 of the year in which the payment to the municipal
treasurer, as provided in subsection (b) of Section 11-74.4-8 of this Act, is to
be made with respect to ad valorem taxes levied in the 23rd
calendar year after the year in which the ordinance approving the
redevelopment project area was adopted if the ordinance was adopted on or after
January 15, 1981.
(b) The estimated dates of completion of the redevelopment project and retirement of obligations issued to finance redevelopment project costs (including refunding bonds under Section 11-74.4-7) may not be later than December 31 of the year in which the payment to the municipal treasurer as provided in subsection (b) of Section 11-74.4-8 of this Act is to be made with respect to ad valorem taxes levied in the 32nd calendar year after the year in which the ordinance approving the redevelopment project area was adopted if the ordinance was adopted on September 9, 1999 by the Village of Downs.
The estimated dates of completion
of the redevelopment project and retirement of obligations issued to finance
redevelopment project costs (including refunding bonds under Section 11-74.4-7) may not be later than December 31 of the year in which the payment to the municipal
treasurer as provided in subsection (b) of Section 11-74.4-8 of this Act is to
be made with respect to ad valorem taxes levied in the 33rd calendar
year after the year in which the ordinance approving the
redevelopment project area was adopted if the ordinance was adopted on May 20, 1985 by the Village of Wheeling.
The estimated dates of completion of the redevelopment project and retirement of obligations issued to finance redevelopment project costs (including refunding bonds under Section 11-74.4-7) may not be later than December 31 of the year in which the payment to the municipal treasurer as provided in subsection (b) of Section 11-74.4-8 of this Act is to be made with respect to ad valorem taxes levied in the 28th calendar year after the year in which the ordinance approving the redevelopment project area was adopted if the ordinance was adopted on October 12, 1989 by the City of Lawrenceville.
(c) The estimated dates of completion
of the redevelopment project and retirement of obligations issued to finance
redevelopment project costs (including refunding bonds under Section 11-74.4-7) may not be later than December 31 of the year in which the payment to the municipal
treasurer as provided in subsection (b) of Section 11-74.4-8 of this Act is to
be made with respect to ad valorem taxes levied in the 35th calendar
year after the year in which the ordinance approving the
redevelopment project area was adopted:
(1) if the ordinance was adopted before January 15,
| | (2) if the ordinance was adopted in December 1983,
| | April 1984, July 1985, or December 1989;
|
| (3) if the ordinance was adopted in December 1987 and
| | the redevelopment project is located within one mile of Midway Airport;
|
| (4) if the ordinance was adopted before January 1,
| | 1987 by a municipality in Mason County;
|
| (5) if the municipality is subject to the Local
| | Government Financial Planning and Supervision Act or the Financially Distressed City Law;
|
| (6) if the ordinance was adopted in December 1984 by
| | (7) if the ordinance was adopted on December 31, 1986
| | by a municipality located in Clinton County for which at least $250,000 of tax increment bonds were authorized on June 17, 1997, or if the ordinance was adopted on December 31, 1986 by a municipality with a population in 1990 of less than 3,600 that is located in a county with a population in 1990 of less than 34,000 and for which at least $250,000 of tax increment bonds were authorized on June 17, 1997;
|
| (8) if the ordinance was adopted on October 5, 1982
| | by the City of Kankakee, or if the ordinance was adopted on December 29, 1986 by East St. Louis;
|
| (9) if the ordinance was adopted on November 12, 1991
| | by the Village of Sauget;
|
| (10) if the ordinance was adopted on February 11,
| | 1985 by the City of Rock Island;
|
| (11) if the ordinance was adopted before December 18,
| | 1986 by the City of Moline;
|
| (12) if the ordinance was adopted in September 1988
| | (13) if the ordinance was adopted in October 1993 by
| | (14) if the ordinance was adopted on December 29,
| | 1986 by the City of Galva;
|
| (15) if the ordinance was adopted in March 1991 by
| | (16) if the ordinance was adopted on January 23, 1991
| | by the City of East St. Louis;
|
| (17) if the ordinance was adopted on December 22,
| | 1986 by the City of Aledo;
|
| (18) if the ordinance was adopted on February 5, 1990
| | (19) if the ordinance was adopted on September 6,
| | 1994 by the City of Freeport;
|
| (20) if the ordinance was adopted on December 22,
| | 1986 by the City of Tuscola;
|
| (21) if the ordinance was adopted on December 23,
| | 1986 by the City of Sparta;
|
| (22) if the ordinance was adopted on December 23,
| | 1986 by the City of Beardstown;
|
| (23) if the ordinance was adopted on April 27, 1981,
| | October 21, 1985, or December 30, 1986 by the City of Belleville;
|
| (24) if the ordinance was adopted on December 29,
| | 1986 by the City of Collinsville;
|
| (25) if the ordinance was adopted on September 14,
| | 1994 by the City of Alton;
|
| (26) if the ordinance was adopted on November 11,
| | 1996 by the City of Lexington;
|
| (27) if the ordinance was adopted on November 5, 1984
| | (28) if the ordinance was adopted on April 3, 1991 or
| | June 3, 1992 by the City of Markham;
|
| (29) if the ordinance was adopted on November 11,
| | 1986 by the City of Pekin;
|
| (30) if the ordinance was adopted on December 15,
| | 1981 by the City of Champaign;
|
| (31) if the ordinance was adopted on December 15,
| | 1986 by the City of Urbana;
|
| (32) if the ordinance was adopted on December 15,
| | 1986 by the Village of Heyworth;
|
| (33) if the ordinance was adopted on February 24,
| | 1992 by the Village of Heyworth;
|
| (34) if the ordinance was adopted on March 16, 1995
| | by the Village of Heyworth;
|
| (35) if the ordinance was adopted on December 23,
| | 1986 by the Town of Cicero;
|
| (36) if the ordinance was adopted on December 30,
| | 1986 by the City of Effingham;
|
| (37) if the ordinance was adopted on May 9, 1991 by
| | (38) if the ordinance was adopted on October 20, 1986
| | (39) if the ordinance was adopted on January 19, 1988
| | (40) if the ordinance was adopted on September 21,
| | 1998 by the City of Waukegan;
|
| (41) if the ordinance was adopted on December 31,
| | 1986 by the City of Sullivan;
|
| (42) if the ordinance was adopted on December 23,
| | 1991 by the City of Sullivan;
|
| (43) if the ordinance was adopted on December 31,
| | 1986 by the City of Oglesby;
|
| (44) if the ordinance was adopted on July 28, 1987 by
| | (45) if the ordinance was adopted on April 23, 1990
| | (46) if the ordinance was adopted on August 20, 1985
| | by the Village of Mount Prospect;
|
| (47) if the ordinance was adopted on February 2, 1998
| | by the Village of Woodhull;
|
| (48) if the ordinance was adopted on April 20, 1993
| | by the Village of Princeville;
|
| (49) if the ordinance was adopted on July 1, 1986 by
| | the City of Granite City;
|
| (50) if the ordinance was adopted on February 2, 1989
| | by the Village of Lombard;
|
| (51) if the ordinance was adopted on December 29,
| | 1986 by the Village of Gardner;
|
| (52) if the ordinance was adopted on July 14, 1999 by
| | (53) if the ordinance was adopted on November 17,
| | 1986 by the Village of Franklin Park;
|
| (54) if the ordinance was adopted on November 20,
| | 1989 by the Village of South Holland;
|
| (55) if the ordinance was adopted on July 14, 1992 by
| | the Village of Riverdale;
|
| (56) if the ordinance was adopted on December 29,
| | 1986 by the City of Galesburg;
|
| (57) if the ordinance was adopted on April 1, 1985 by
| | (58) if the ordinance was adopted on May 21, 1990 by
| | the City of West Chicago;
|
| (59) if the ordinance was adopted on December 16,
| | 1986 by the City of Oak Forest;
|
| (60) if the ordinance was adopted in 1999 by the City
| | (61) if the ordinance was adopted on January 13, 1987
| | by the Village of Mt. Zion;
|
| (62) if the ordinance was adopted on December 30,
| | 1986 by the Village of Manteno;
|
| (63) if the ordinance was adopted on April 3, 1989 by
| | the City of Chicago Heights;
|
| (64) if the ordinance was adopted on January 6, 1999
| | by the Village of Rosemont;
|
| (65) if the ordinance was adopted on December 19,
| | 2000 by the Village of Stone Park;
|
| (66) if the ordinance was adopted on December 22,
| | 1986 by the City of DeKalb;
|
| (67) if the ordinance was adopted on December 2,
| | 1986 by the City of Aurora;
|
| (68) if the ordinance was adopted on December 31,
| | 1986 by the Village of Milan;
|
| (69) if the ordinance was adopted on September 8,
| | 1994 by the City of West Frankfort;
|
| (70) if the ordinance was adopted on December 23,
| | 1986 by the Village of Libertyville;
|
| (71) if the ordinance was adopted on December 22,
| | 1986 by the Village of Hoffman Estates;
|
| (72) if the ordinance was adopted on September 17,
| | 1986 by the Village of Sherman;
|
| (73) if the ordinance was adopted on December 16,
| | 1986 by the City of Macomb;
|
| (74) if the ordinance was adopted on June 11, 2002 by
| | the City of East Peoria to create the West Washington Street TIF;
|
| (75) if the ordinance was adopted on June 11, 2002 by
| | the City of East Peoria to create the Camp Street TIF;
|
| (76) if the ordinance was adopted on August 7, 2000
| | by the City of Des Plaines;
|
| (77) if the ordinance was adopted on December 22,
| | 1986 by the City of Washington to create the Washington Square TIF #2;
|
| (78) if the ordinance was adopted on December 29,
| | 1986 by the City of Morris;
|
| (79) if the ordinance was adopted on July 6, 1998 by
| | the Village of Steeleville;
|
| (80) if the ordinance was adopted on December 29,
| | 1986 by the City of Pontiac to create TIF I (the Main St TIF);
|
| (81) if the ordinance was adopted on December 29,
| | 1986 by the City of Pontiac to create TIF II (the Interstate TIF);
|
| (82) if the ordinance was adopted on November 6, 2002
| | by the City of Chicago to create the Madden/Wells TIF District;
|
| (83) if the ordinance was adopted on November 4, 1998
| | by the City of Chicago to create the Roosevelt/Racine TIF District;
|
| (84) if the ordinance was adopted on June 10, 1998 by
| | the City of Chicago to create the Stony Island Commercial/Burnside Industrial Corridors TIF District;
|
| (85) if the ordinance was adopted on November 29,
| | 1989 by the City of Chicago to create the Englewood Mall TIF District;
|
| (86) if the ordinance was adopted on December 27,
| | 1986 by the City of Mendota;
|
| (87) if the ordinance was adopted on December 31,
| | 1986 by the Village of Cahokia;
|
| (88) if the ordinance was adopted on September 20,
| | 1999 by the City of Belleville;
|
| (89) if the ordinance was adopted on December 30,
| | 1986 by the Village of Bellevue to create the Bellevue TIF District 1;
|
| (90) if the ordinance was adopted on December 13,
| | 1993 by the Village of Crete;
|
| (91) if the ordinance was adopted on February 12,
| | 2001 by the Village of Crete;
|
| (92) if the ordinance was adopted on April 23, 2001
| | (93) if the ordinance was adopted on December 16,
| | 1986 by the City of Champaign;
|
| (94) if the ordinance was adopted on December 20,
| | 1986 by the City of Charleston;
|
| (95) if the ordinance was adopted on June 6, 1989 by
| | the Village of Romeoville;
|
| (96) if the ordinance was adopted on October 14, 1993
| | and amended on August 2, 2010 by the City of Venice;
|
| (97) if the ordinance was adopted on June 1, 1994 by
| | (98) if the ordinance was adopted on May 19, 1998 by
| | the Village of Bensenville;
|
| (99) if the ordinance was adopted on November 12,
| | 1987 by the City of Dixon;
|
| (100) if the ordinance was adopted on December 20,
| | 1988 by the Village of Lansing;
|
| (101) if the ordinance was adopted on October 27,
| | 1998 by the City of Moline;
|
| (102) if the ordinance was adopted on May 21, 1991 by
| | (103) if the ordinance was adopted on January 28,
| | 1992 by the City of East Peoria;
|
| (104) if the ordinance was adopted on December 14,
| | 1998 by the City of Carlyle;
|
| (105) if the ordinance was adopted on May 17, 2000,
| | as subsequently amended, by the City of Chicago to create the Midwest Redevelopment TIF District;
|
| (106) if the ordinance was adopted on September 13,
| | 1989 by the City of Chicago to create the Michigan/Cermak Area TIF District;
|
| (107) if the ordinance was adopted on March 30, 1992
| | (108) if the ordinance was adopted on July 6, 1998 by
| | the Village of Orangeville;
|
| (109) if the ordinance was adopted on December 16,
| | 1997 by the Village of Germantown;
|
| (110) if the ordinance was adopted on April 28, 2003
| | (111) if the ordinance was adopted on December 18,
| | 1990 by the Village of Washington Park, but only after the Village of Washington Park becomes compliant with the reporting requirements under subsection (d) of Section 11-74.4-5, and after the State Comptroller's certification of such compliance;
|
| (112) if the ordinance was adopted on February 28,
| | 2000 by the City of Harvey;
|
| (113) if the ordinance was adopted on January 11,
| | 1991 by the City of Chicago to create the Read/Dunning TIF District;
|
| (114) if the ordinance was adopted on July 24, 1991
| | by the City of Chicago to create the Sanitary and Ship Canal TIF District;
|
| (115) if the ordinance was adopted on December 4,
| | 2007 by the City of Naperville;
|
| (116) if the ordinance was adopted on July 1, 2002 by
| | the Village of Arlington Heights;
|
| (117) if the ordinance was adopted on February 11,
| | 1991 by the Village of Machesney Park;
|
| (118) if the ordinance was adopted on December 29,
| | 1993 by the City of Ottawa; or
|
| (119) if the ordinance was adopted on June 4, 1991 by
| | (d) For redevelopment project areas for which bonds were issued before
July 29, 1991, or for which contracts were entered into before June 1,
1988, in connection with a redevelopment project in the area within
the State Sales Tax Boundary, the estimated dates of completion of the
redevelopment project and retirement of obligations to finance redevelopment
project costs (including refunding bonds under Section 11-74.4-7) may be extended by municipal ordinance to December 31, 2013.
The termination procedures of subsection (b) of Section 11-74.4-8 are not
required for
these redevelopment project areas in 2009 but are required in 2013.
The extension allowed by Public Act 87-1272 shall not apply to real
property tax increment allocation financing under Section 11-74.4-8.
(e) Those dates, for purposes of real property tax increment allocation
financing pursuant to Section 11-74.4-8 only, shall be not more than 35 years
for redevelopment project areas that were adopted on or after December 16,
1986 and for which at least $8 million worth of municipal bonds were authorized
on or after December 19, 1989 but before January 1, 1990; provided that the
municipality elects to extend the life of the redevelopment project area to 35
years by the adoption of an ordinance after at least 14 but not more than 30
days' written notice to the taxing bodies, that would otherwise constitute the
joint review board for the redevelopment project area, before the adoption of
the ordinance.
(f) Those dates, for purposes of real property tax increment allocation
financing pursuant to Section 11-74.4-8 only, shall be not more than 35 years
for redevelopment project areas that were established on or after December 1,
1981 but before January 1, 1982 and for which at least $1,500,000 worth of
tax increment revenue bonds were authorized
on or after September 30, 1990 but before July 1, 1991; provided that the
municipality elects to extend the life of the redevelopment project area to 35
years by the adoption of an ordinance after at least 14 but not more than 30
days' written notice to the taxing bodies, that would otherwise constitute the
joint review board for the redevelopment project area, before the adoption of
the ordinance.
(g) In consolidating the material relating to completion dates from Sections 11-74.4-3 and 11-74.4-7 into this Section, it is not the intent of the General Assembly to make any substantive change in the law, except for the extension of the completion dates for the City of Aurora, the Village of Milan,
the City of West Frankfort, the Village of Libertyville, and the Village of Hoffman Estates set forth under items (67),
(68), (69), (70), and (71) of subsection (c) of this Section.
(Source: P.A. 97-93, eff. 1-1-12; 97-372, eff. 8-15-11; 97-600, eff. 8-26-11; 97-633, eff. 12-16-11; 97-635, eff. 12-16-11; 97-807, eff. 7-13-12; 97-1114, eff. 8-27-12; 98-109, eff. 7-25-13; 98-135, eff. 8-2-13; 98-230, eff. 8-9-13; 98-463, eff. 8-16-13; 98-614, eff. 12-27-13; 98-667, eff. 6-25-14; 98-889, eff. 8-15-14; 98-893, eff. 8-15-14; 98-1064, eff. 8-26-14; 98-1136, eff. 12-29-14.)
(Text of Section from P.A. 98-1153)
Sec. 11-74.4-3.5. Completion dates for redevelopment projects.
(a) Unless otherwise stated in this Section, the estimated dates of completion
of the redevelopment project and retirement of obligations issued to finance
redevelopment project costs (including refunding bonds under Section 11-74.4-7) may not be
later than December 31 of the year in which the payment to the municipal
treasurer, as provided in subsection (b) of Section 11-74.4-8 of this Act, is to
be made with respect to ad valorem taxes levied in the 23rd
calendar year after the year in which the ordinance approving the
redevelopment project area was adopted if the ordinance was adopted on or after
January 15, 1981.
(b) The estimated dates of completion of the redevelopment project and retirement of obligations issued to finance redevelopment project costs (including refunding bonds under Section 11-74.4-7) may not be later than December 31 of the year in which the payment to the municipal treasurer as provided in subsection (b) of Section 11-74.4-8 of this Act is to be made with respect to ad valorem taxes levied in the 32nd calendar year after the year in which the ordinance approving the redevelopment project area was adopted if the ordinance was adopted on September 9, 1999 by the Village of Downs.
The estimated dates of completion
of the redevelopment project and retirement of obligations issued to finance
redevelopment project costs (including refunding bonds under Section 11-74.4-7) may not be later than December 31 of the year in which the payment to the municipal
treasurer as provided in subsection (b) of Section 11-74.4-8 of this Act is to
be made with respect to ad valorem taxes levied in the 33rd calendar
year after the year in which the ordinance approving the
redevelopment project area was adopted if the ordinance was adopted on May 20, 1985 by the Village of Wheeling.
The estimated dates of completion of the redevelopment project and retirement of obligations issued to finance redevelopment project costs (including refunding bonds under Section 11-74.4-7) may not be later than December 31 of the year in which the payment to the municipal treasurer as provided in subsection (b) of Section 11-74.4-8 of this Act is to be made with respect to ad valorem taxes levied in the 28th calendar year after the year in which the ordinance approving the redevelopment project area was adopted if the ordinance was adopted on October 12, 1989 by the City of Lawrenceville.
(c) The estimated dates of completion
of the redevelopment project and retirement of obligations issued to finance
redevelopment project costs (including refunding bonds under Section 11-74.4-7) may not be later than December 31 of the year in which the payment to the municipal
treasurer as provided in subsection (b) of Section 11-74.4-8 of this Act is to
be made with respect to ad valorem taxes levied in the 35th calendar
year after the year in which the ordinance approving the
redevelopment project area was adopted:
(1) if the ordinance was adopted before January 15,
| | (2) if the ordinance was adopted in December 1983,
| | April 1984, July 1985, or December 1989;
|
| (3) if the ordinance was adopted in December 1987 and
| | the redevelopment project is located within one mile of Midway Airport;
|
| (4) if the ordinance was adopted before January 1,
| | 1987 by a municipality in Mason County;
|
| (5) if the municipality is subject to the Local
| | Government Financial Planning and Supervision Act or the Financially Distressed City Law;
|
| (6) if the ordinance was adopted in December 1984 by
| | (7) if the ordinance was adopted on December 31, 1986
| | by a municipality located in Clinton County for which at least $250,000 of tax increment bonds were authorized on June 17, 1997, or if the ordinance was adopted on December 31, 1986 by a municipality with a population in 1990 of less than 3,600 that is located in a county with a population in 1990 of less than 34,000 and for which at least $250,000 of tax increment bonds were authorized on June 17, 1997;
|
| (8) if the ordinance was adopted on October 5, 1982
| | by the City of Kankakee, or if the ordinance was adopted on December 29, 1986 by East St. Louis;
|
| (9) if the ordinance was adopted on November 12, 1991
| | by the Village of Sauget;
|
| (10) if the ordinance was adopted on February 11,
| | 1985 by the City of Rock Island;
|
| (11) if the ordinance was adopted before December 18,
| | 1986 by the City of Moline;
|
| (12) if the ordinance was adopted in September 1988
| | (13) if the ordinance was adopted in October 1993 by
| | (14) if the ordinance was adopted on December 29,
| | 1986 by the City of Galva;
|
| (15) if the ordinance was adopted in March 1991 by
| | (16) if the ordinance was adopted on January 23, 1991
| | by the City of East St. Louis;
|
| (17) if the ordinance was adopted on December 22,
| | 1986 by the City of Aledo;
|
| (18) if the ordinance was adopted on February 5, 1990
| | (19) if the ordinance was adopted on September 6,
| | 1994 by the City of Freeport;
|
| (20) if the ordinance was adopted on December 22,
| | 1986 by the City of Tuscola;
|
| (21) if the ordinance was adopted on December 23,
| | 1986 by the City of Sparta;
|
| (22) if the ordinance was adopted on December 23,
| | 1986 by the City of Beardstown;
|
| (23) if the ordinance was adopted on April 27, 1981,
| | October 21, 1985, or December 30, 1986 by the City of Belleville;
|
| (24) if the ordinance was adopted on December 29,
| | 1986 by the City of Collinsville;
|
| (25) if the ordinance was adopted on September 14,
| | 1994 by the City of Alton;
|
| (26) if the ordinance was adopted on November 11,
| | 1996 by the City of Lexington;
|
| (27) if the ordinance was adopted on November 5, 1984
| | (28) if the ordinance was adopted on April 3, 1991 or
| | June 3, 1992 by the City of Markham;
|
| (29) if the ordinance was adopted on November 11,
| | 1986 by the City of Pekin;
|
| (30) if the ordinance was adopted on December 15,
| | 1981 by the City of Champaign;
|
| (31) if the ordinance was adopted on December 15,
| | 1986 by the City of Urbana;
|
| (32) if the ordinance was adopted on December 15,
| | 1986 by the Village of Heyworth;
|
| (33) if the ordinance was adopted on February 24,
| | 1992 by the Village of Heyworth;
|
| (34) if the ordinance was adopted on March 16, 1995
| | by the Village of Heyworth;
|
| (35) if the ordinance was adopted on December 23,
| | 1986 by the Town of Cicero;
|
| (36) if the ordinance was adopted on December 30,
| | 1986 by the City of Effingham;
|
| (37) if the ordinance was adopted on May 9, 1991 by
| | (38) if the ordinance was adopted on October 20, 1986
| | (39) if the ordinance was adopted on January 19, 1988
| | (40) if the ordinance was adopted on September 21,
| | 1998 by the City of Waukegan;
|
| (41) if the ordinance was adopted on December 31,
| | 1986 by the City of Sullivan;
|
| (42) if the ordinance was adopted on December 23,
| | 1991 by the City of Sullivan;
|
| (43) if the ordinance was adopted on December 31,
| | 1986 by the City of Oglesby;
|
| (44) if the ordinance was adopted on July 28, 1987 by
| | (45) if the ordinance was adopted on April 23, 1990
| | (46) if the ordinance was adopted on August 20, 1985
| | by the Village of Mount Prospect;
|
| (47) if the ordinance was adopted on February 2, 1998
| | by the Village of Woodhull;
|
| (48) if the ordinance was adopted on April 20, 1993
| | by the Village of Princeville;
|
| (49) if the ordinance was adopted on July 1, 1986 by
| | the City of Granite City;
|
| (50) if the ordinance was adopted on February 2, 1989
| | by the Village of Lombard;
|
| (51) if the ordinance was adopted on December 29,
| | 1986 by the Village of Gardner;
|
| (52) if the ordinance was adopted on July 14, 1999 by
| | (53) if the ordinance was adopted on November 17,
| | 1986 by the Village of Franklin Park;
|
| (54) if the ordinance was adopted on November 20,
| | 1989 by the Village of South Holland;
|
| (55) if the ordinance was adopted on July 14, 1992 by
| | the Village of Riverdale;
|
| (56) if the ordinance was adopted on December 29,
| | 1986 by the City of Galesburg;
|
| (57) if the ordinance was adopted on April 1, 1985 by
| | (58) if the ordinance was adopted on May 21, 1990 by
| | the City of West Chicago;
|
| (59) if the ordinance was adopted on December 16,
| | 1986 by the City of Oak Forest;
|
| (60) if the ordinance was adopted in 1999 by the City
| | (61) if the ordinance was adopted on January 13, 1987
| | by the Village of Mt. Zion;
|
| (62) if the ordinance was adopted on December 30,
| | 1986 by the Village of Manteno;
|
| (63) if the ordinance was adopted on April 3, 1989 by
| | the City of Chicago Heights;
|
| (64) if the ordinance was adopted on January 6, 1999
| | by the Village of Rosemont;
|
| (65) if the ordinance was adopted on December 19,
| | 2000 by the Village of Stone Park;
|
| (66) if the ordinance was adopted on December 22,
| | 1986 by the City of DeKalb;
|
| (67) if the ordinance was adopted on December 2,
| | 1986 by the City of Aurora;
|
| (68) if the ordinance was adopted on December 31,
| | 1986 by the Village of Milan;
|
| (69) if the ordinance was adopted on September 8,
| | 1994 by the City of West Frankfort;
|
| (70) if the ordinance was adopted on December 23,
| | 1986 by the Village of Libertyville;
|
| (71) if the ordinance was adopted on December 22,
| | 1986 by the Village of Hoffman Estates;
|
| (72) if the ordinance was adopted on September 17,
| | 1986 by the Village of Sherman;
|
| (73) if the ordinance was adopted on December 16,
| | 1986 by the City of Macomb;
|
| (74) if the ordinance was adopted on June 11, 2002 by
| | the City of East Peoria to create the West Washington Street TIF;
|
| (75) if the ordinance was adopted on June 11, 2002 by
| | the City of East Peoria to create the Camp Street TIF;
|
| (76) if the ordinance was adopted on August 7, 2000
| | by the City of Des Plaines;
|
| (77) if the ordinance was adopted on December 22,
| | 1986 by the City of Washington to create the Washington Square TIF #2;
|
| (78) if the ordinance was adopted on December 29,
| | 1986 by the City of Morris;
|
| (79) if the ordinance was adopted on July 6, 1998 by
| | the Village of Steeleville;
|
| (80) if the ordinance was adopted on December 29,
| | 1986 by the City of Pontiac to create TIF I (the Main St TIF);
|
| (81) if the ordinance was adopted on December 29,
| | 1986 by the City of Pontiac to create TIF II (the Interstate TIF);
|
| (82) if the ordinance was adopted on November 6, 2002
| | by the City of Chicago to create the Madden/Wells TIF District;
|
| (83) if the ordinance was adopted on November 4, 1998
| | by the City of Chicago to create the Roosevelt/Racine TIF District;
|
| (84) if the ordinance was adopted on June 10, 1998 by
| | the City of Chicago to create the Stony Island Commercial/Burnside Industrial Corridors TIF District;
|
| (85) if the ordinance was adopted on November 29,
| | 1989 by the City of Chicago to create the Englewood Mall TIF District;
|
| (86) if the ordinance was adopted on December 27,
| | 1986 by the City of Mendota;
|
| (87) if the ordinance was adopted on December 31,
| | 1986 by the Village of Cahokia;
|
| (88) if the ordinance was adopted on September 20,
| | 1999 by the City of Belleville;
|
| (89) if the ordinance was adopted on December 30,
| | 1986 by the Village of Bellevue to create the Bellevue TIF District 1;
|
| (90) if the ordinance was adopted on December 13,
| | 1993 by the Village of Crete;
|
| (91) if the ordinance was adopted on February 12,
| | 2001 by the Village of Crete;
|
| (92) if the ordinance was adopted on April 23, 2001
| | (93) if the ordinance was adopted on December 16,
| | 1986 by the City of Champaign;
|
| (94) if the ordinance was adopted on December 20,
| | 1986 by the City of Charleston;
|
| (95) if the ordinance was adopted on June 6, 1989 by
| | the Village of Romeoville;
|
| (96) if the ordinance was adopted on October 14, 1993
| | and amended on August 2, 2010 by the City of Venice;
|
| (97) if the ordinance was adopted on June 1, 1994 by
| | (98) if the ordinance was adopted on May 19, 1998 by
| | the Village of Bensenville;
|
| (99) if the ordinance was adopted on November 12,
| | 1987 by the City of Dixon;
|
| (100) if the ordinance was adopted on December 20,
| | 1988 by the Village of Lansing;
|
| (101) if the ordinance was adopted on October 27,
| | 1998 by the City of Moline;
|
| (102) if the ordinance was adopted on May 21, 1991 by
| | (103) if the ordinance was adopted on January 28,
| | 1992 by the City of East Peoria;
|
| (104) if the ordinance was adopted on December 14,
| | 1998 by the City of Carlyle;
|
| (105) if the ordinance was adopted on May 17, 2000,
| | as subsequently amended, by the City of Chicago to create the Midwest Redevelopment TIF District;
|
| (106) if the ordinance was adopted on September 13,
| | 1989 by the City of Chicago to create the Michigan/Cermak Area TIF District;
|
| (107) if the ordinance was adopted on March 30, 1992
| | (108) if the ordinance was adopted on July 6, 1998 by
| | the Village of Orangeville;
|
| (109) if the ordinance was adopted on December 16,
| | 1997 by the Village of Germantown;
|
| (110) if the ordinance was adopted on April 28, 2003
| | (111) if the ordinance was adopted on December 18,
| | 1990 by the Village of Washington Park, but only after the Village of Washington Park becomes compliant with the reporting requirements under subsection (d) of Section 11-74.4-5, and after the State Comptroller's certification of such compliance;
|
| (112) if the ordinance was adopted on February 28,
| | 2000 by the City of Harvey;
|
| (113) if the ordinance was adopted on January 11,
| | 1991 by the City of Chicago to create the Read/Dunning TIF District;
|
| (114) if the ordinance was adopted on July 24, 1991
| | by the City of Chicago to create the Sanitary and Ship Canal TIF District;
|
| (115) if the ordinance was adopted on December 4,
| | 2007 by the City of Naperville;
|
| (116) if the ordinance was adopted on July 1, 2002 by
| | the Village of Arlington Heights;
|
| (117) if the ordinance was adopted on February 11,
| | 1991 by the Village of Machesney Park;
|
| (118) if the ordinance was adopted on December 29,
| | 1993 by the City of Ottawa;
|
| (119) if the ordinance was adopted on February 10,
| | 2004 by the Village of Fox Lake;
|
| (120) if the ordinance was adopted on December 22,
| | 1992 by the City of Fairfield; or
|
| (121) if the ordinance was adopted on February 10,
| | 1992 by the City of Mt. Sterling.
|
| (d) For redevelopment project areas for which bonds were issued before
July 29, 1991, or for which contracts were entered into before June 1,
1988, in connection with a redevelopment project in the area within
the State Sales Tax Boundary, the estimated dates of completion of the
redevelopment project and retirement of obligations to finance redevelopment
project costs (including refunding bonds under Section 11-74.4-7) may be extended by municipal ordinance to December 31, 2013.
The termination procedures of subsection (b) of Section 11-74.4-8 are not
required for
these redevelopment project areas in 2009 but are required in 2013.
The extension allowed by Public Act 87-1272 shall not apply to real
property tax increment allocation financing under Section 11-74.4-8.
(e) Those dates, for purposes of real property tax increment allocation
financing pursuant to Section 11-74.4-8 only, shall be not more than 35 years
for redevelopment project areas that were adopted on or after December 16,
1986 and for which at least $8 million worth of municipal bonds were authorized
on or after December 19, 1989 but before January 1, 1990; provided that the
municipality elects to extend the life of the redevelopment project area to 35
years by the adoption of an ordinance after at least 14 but not more than 30
days' written notice to the taxing bodies, that would otherwise constitute the
joint review board for the redevelopment project area, before the adoption of
the ordinance.
(f) Those dates, for purposes of real property tax increment allocation
financing pursuant to Section 11-74.4-8 only, shall be not more than 35 years
for redevelopment project areas that were established on or after December 1,
1981 but before January 1, 1982 and for which at least $1,500,000 worth of
tax increment revenue bonds were authorized
on or after September 30, 1990 but before July 1, 1991; provided that the
municipality elects to extend the life of the redevelopment project area to 35
years by the adoption of an ordinance after at least 14 but not more than 30
days' written notice to the taxing bodies, that would otherwise constitute the
joint review board for the redevelopment project area, before the adoption of
the ordinance.
(g) In consolidating the material relating to completion dates from Sections 11-74.4-3 and 11-74.4-7 into this Section, it is not the intent of the General Assembly to make any substantive change in the law, except for the extension of the completion dates for the City of Aurora, the Village of Milan,
the City of West Frankfort, the Village of Libertyville, and the Village of Hoffman Estates set forth under items (67),
(68), (69), (70), and (71) of subsection (c) of this Section.
(Source: P.A. 97-93, eff. 1-1-12; 97-372, eff. 8-15-11; 97-600, eff. 8-26-11; 97-633, eff. 12-16-11; 97-635, eff. 12-16-11; 97-807, eff. 7-13-12; 97-1114, eff. 8-27-12; 98-109, eff. 7-25-13; 98-135, eff. 8-2-13; 98-230, eff. 8-9-13; 98-463, eff. 8-16-13; 98-614, eff. 12-27-13; 98-667, eff. 6-25-14; 98-889, eff. 8-15-14; 98-893, eff. 8-15-14; 98-1064, eff. 8-26-14; 98-1153, eff. 1-9-15.)
(Text of Section from P.A. 98-1157)
Sec. 11-74.4-3.5. Completion dates for redevelopment projects.
(a) Unless otherwise stated in this Section, the estimated dates of completion
of the redevelopment project and retirement of obligations issued to finance
redevelopment project costs (including refunding bonds under Section 11-74.4-7) may not be
later than December 31 of the year in which the payment to the municipal
treasurer, as provided in subsection (b) of Section 11-74.4-8 of this Act, is to
be made with respect to ad valorem taxes levied in the 23rd
calendar year after the year in which the ordinance approving the
redevelopment project area was adopted if the ordinance was adopted on or after
January 15, 1981.
(b) The estimated dates of completion of the redevelopment project and retirement of obligations issued to finance redevelopment project costs (including refunding bonds under Section 11-74.4-7) may not be later than December 31 of the year in which the payment to the municipal treasurer as provided in subsection (b) of Section 11-74.4-8 of this Act is to be made with respect to ad valorem taxes levied in the 32nd calendar year after the year in which the ordinance approving the redevelopment project area was adopted if the ordinance was adopted on September 9, 1999 by the Village of Downs.
The estimated dates of completion
of the redevelopment project and retirement of obligations issued to finance
redevelopment project costs (including refunding bonds under Section 11-74.4-7) may not be later than December 31 of the year in which the payment to the municipal
treasurer as provided in subsection (b) of Section 11-74.4-8 of this Act is to
be made with respect to ad valorem taxes levied in the 33rd calendar
year after the year in which the ordinance approving the
redevelopment project area was adopted if the ordinance was adopted on May 20, 1985 by the Village of Wheeling.
The estimated dates of completion of the redevelopment project and retirement of obligations issued to finance redevelopment project costs (including refunding bonds under Section 11-74.4-7) may not be later than December 31 of the year in which the payment to the municipal treasurer as provided in subsection (b) of Section 11-74.4-8 of this Act is to be made with respect to ad valorem taxes levied in the 28th calendar year after the year in which the ordinance approving the redevelopment project area was adopted if the ordinance was adopted on October 12, 1989 by the City of Lawrenceville.
(c) The estimated dates of completion
of the redevelopment project and retirement of obligations issued to finance
redevelopment project costs (including refunding bonds under Section 11-74.4-7) may not be later than December 31 of the year in which the payment to the municipal
treasurer as provided in subsection (b) of Section 11-74.4-8 of this Act is to
be made with respect to ad valorem taxes levied in the 35th calendar
year after the year in which the ordinance approving the
redevelopment project area was adopted:
(1) if the ordinance was adopted before January 15,
| | (2) if the ordinance was adopted in December 1983,
| | April 1984, July 1985, or December 1989;
|
| (3) if the ordinance was adopted in December 1987 and
| | the redevelopment project is located within one mile of Midway Airport;
|
| (4) if the ordinance was adopted before January 1,
| | 1987 by a municipality in Mason County;
|
| (5) if the municipality is subject to the Local
| | Government Financial Planning and Supervision Act or the Financially Distressed City Law;
|
| (6) if the ordinance was adopted in December 1984 by
| | (7) if the ordinance was adopted on December 31, 1986
| | by a municipality located in Clinton County for which at least $250,000 of tax increment bonds were authorized on June 17, 1997, or if the ordinance was adopted on December 31, 1986 by a municipality with a population in 1990 of less than 3,600 that is located in a county with a population in 1990 of less than 34,000 and for which at least $250,000 of tax increment bonds were authorized on June 17, 1997;
|
| (8) if the ordinance was adopted on October 5, 1982
| | by the City of Kankakee, or if the ordinance was adopted on December 29, 1986 by East St. Louis;
|
| (9) if the ordinance was adopted on November 12, 1991
| | by the Village of Sauget;
|
| (10) if the ordinance was adopted on February 11,
| | 1985 by the City of Rock Island;
|
| (11) if the ordinance was adopted before December 18,
| | 1986 by the City of Moline;
|
| (12) if the ordinance was adopted in September 1988
| | (13) if the ordinance was adopted in October 1993 by
| | (14) if the ordinance was adopted on December 29,
| | 1986 by the City of Galva;
|
| (15) if the ordinance was adopted in March 1991 by
| | (16) if the ordinance was adopted on January 23, 1991
| | by the City of East St. Louis;
|
| (17) if the ordinance was adopted on December 22,
| | 1986 by the City of Aledo;
|
| (18) if the ordinance was adopted on February 5, 1990
| | (19) if the ordinance was adopted on September 6,
| | 1994 by the City of Freeport;
|
| (20) if the ordinance was adopted on December 22,
| | 1986 by the City of Tuscola;
|
| (21) if the ordinance was adopted on December 23,
| | 1986 by the City of Sparta;
|
| (22) if the ordinance was adopted on December 23,
| | 1986 by the City of Beardstown;
|
| (23) if the ordinance was adopted on April 27, 1981,
| | October 21, 1985, or December 30, 1986 by the City of Belleville;
|
| (24) if the ordinance was adopted on December 29,
| | 1986 by the City of Collinsville;
|
| (25) if the ordinance was adopted on September 14,
| | 1994 by the City of Alton;
|
| (26) if the ordinance was adopted on November 11,
| | 1996 by the City of Lexington;
|
| (27) if the ordinance was adopted on November 5, 1984
| | (28) if the ordinance was adopted on April 3, 1991 or
| | June 3, 1992 by the City of Markham;
|
| (29) if the ordinance was adopted on November 11,
| | 1986 by the City of Pekin;
|
| (30) if the ordinance was adopted on December 15,
| | 1981 by the City of Champaign;
|
| (31) if the ordinance was adopted on December 15,
| | 1986 by the City of Urbana;
|
| (32) if the ordinance was adopted on December 15,
| | 1986 by the Village of Heyworth;
|
| (33) if the ordinance was adopted on February 24,
| | 1992 by the Village of Heyworth;
|
| (34) if the ordinance was adopted on March 16, 1995
| | by the Village of Heyworth;
|
| (35) if the ordinance was adopted on December 23,
| | 1986 by the Town of Cicero;
|
| (36) if the ordinance was adopted on December 30,
| | 1986 by the City of Effingham;
|
| (37) if the ordinance was adopted on May 9, 1991 by
| | (38) if the ordinance was adopted on October 20, 1986
| | (39) if the ordinance was adopted on January 19, 1988
| | (40) if the ordinance was adopted on September 21,
| | 1998 by the City of Waukegan;
|
| (41) if the ordinance was adopted on December 31,
| | 1986 by the City of Sullivan;
|
| (42) if the ordinance was adopted on December 23,
| | 1991 by the City of Sullivan;
|
| (43) if the ordinance was adopted on December 31,
| | 1986 by the City of Oglesby;
|
| (44) if the ordinance was adopted on July 28, 1987 by
| | (45) if the ordinance was adopted on April 23, 1990
| | (46) if the ordinance was adopted on August 20, 1985
| | by the Village of Mount Prospect;
|
| (47) if the ordinance was adopted on February 2, 1998
| | by the Village of Woodhull;
|
| (48) if the ordinance was adopted on April 20, 1993
| | by the Village of Princeville;
|
| (49) if the ordinance was adopted on July 1, 1986 by
| | the City of Granite City;
|
| (50) if the ordinance was adopted on February 2, 1989
| | by the Village of Lombard;
|
| (51) if the ordinance was adopted on December 29,
| | 1986 by the Village of Gardner;
|
| (52) if the ordinance was adopted on July 14, 1999 by
| | (53) if the ordinance was adopted on November 17,
| | 1986 by the Village of Franklin Park;
|
| (54) if the ordinance was adopted on November 20,
| | 1989 by the Village of South Holland;
|
| (55) if the ordinance was adopted on July 14, 1992 by
| | the Village of Riverdale;
|
| (56) if the ordinance was adopted on December 29,
| | 1986 by the City of Galesburg;
|
| (57) if the ordinance was adopted on April 1, 1985 by
| | (58) if the ordinance was adopted on May 21, 1990 by
| | the City of West Chicago;
|
| (59) if the ordinance was adopted on December 16,
| | 1986 by the City of Oak Forest;
|
| (60) if the ordinance was adopted in 1999 by the City
| | (61) if the ordinance was adopted on January 13, 1987
| | by the Village of Mt. Zion;
|
| (62) if the ordinance was adopted on December 30,
| | 1986 by the Village of Manteno;
|
| (63) if the ordinance was adopted on April 3, 1989 by
| | the City of Chicago Heights;
|
| (64) if the ordinance was adopted on January 6, 1999
| | by the Village of Rosemont;
|
| (65) if the ordinance was adopted on December 19,
| | 2000 by the Village of Stone Park;
|
| (66) if the ordinance was adopted on December 22,
| | 1986 by the City of DeKalb;
|
| (67) if the ordinance was adopted on December 2,
| | 1986 by the City of Aurora;
|
| (68) if the ordinance was adopted on December 31,
| | 1986 by the Village of Milan;
|
| (69) if the ordinance was adopted on September 8,
| | 1994 by the City of West Frankfort;
|
| (70) if the ordinance was adopted on December 23,
| | 1986 by the Village of Libertyville;
|
| (71) if the ordinance was adopted on December 22,
| | 1986 by the Village of Hoffman Estates;
|
| (72) if the ordinance was adopted on September 17,
| | 1986 by the Village of Sherman;
|
| (73) if the ordinance was adopted on December 16,
| | 1986 by the City of Macomb;
|
| (74) if the ordinance was adopted on June 11, 2002 by
| | the City of East Peoria to create the West Washington Street TIF;
|
| (75) if the ordinance was adopted on June 11, 2002 by
| | the City of East Peoria to create the Camp Street TIF;
|
| (76) if the ordinance was adopted on August 7, 2000
| | by the City of Des Plaines;
|
| (77) if the ordinance was adopted on December 22,
| | 1986 by the City of Washington to create the Washington Square TIF #2;
|
| (78) if the ordinance was adopted on December 29,
| | 1986 by the City of Morris;
|
| (79) if the ordinance was adopted on July 6, 1998 by
| | the Village of Steeleville;
|
| (80) if the ordinance was adopted on December 29,
| | 1986 by the City of Pontiac to create TIF I (the Main St TIF);
|
| (81) if the ordinance was adopted on December 29,
| | 1986 by the City of Pontiac to create TIF II (the Interstate TIF);
|
| (82) if the ordinance was adopted on November 6, 2002
| | by the City of Chicago to create the Madden/Wells TIF District;
|
| (83) if the ordinance was adopted on November 4, 1998
| | by the City of Chicago to create the Roosevelt/Racine TIF District;
|
| (84) if the ordinance was adopted on June 10, 1998 by
| | the City of Chicago to create the Stony Island Commercial/Burnside Industrial Corridors TIF District;
|
| (85) if the ordinance was adopted on November 29,
| | 1989 by the City of Chicago to create the Englewood Mall TIF District;
|
| (86) if the ordinance was adopted on December 27,
| | 1986 by the City of Mendota;
|
| (87) if the ordinance was adopted on December 31,
| | 1986 by the Village of Cahokia;
|
| (88) if the ordinance was adopted on September 20,
| | 1999 by the City of Belleville;
|
| (89) if the ordinance was adopted on December 30,
| | 1986 by the Village of Bellevue to create the Bellevue TIF District 1;
|
| (90) if the ordinance was adopted on December 13,
| | 1993 by the Village of Crete;
|
| (91) if the ordinance was adopted on February 12,
| | 2001 by the Village of Crete;
|
| (92) if the ordinance was adopted on April 23, 2001
| | (93) if the ordinance was adopted on December 16,
| | 1986 by the City of Champaign;
|
| (94) if the ordinance was adopted on December 20,
| | 1986 by the City of Charleston;
|
| (95) if the ordinance was adopted on June 6, 1989 by
| | the Village of Romeoville;
|
| (96) if the ordinance was adopted on October 14, 1993
| | and amended on August 2, 2010 by the City of Venice;
|
| (97) if the ordinance was adopted on June 1, 1994 by
| | (98) if the ordinance was adopted on May 19, 1998 by
| | the Village of Bensenville;
|
| (99) if the ordinance was adopted on November 12,
| | 1987 by the City of Dixon;
|
| (100) if the ordinance was adopted on December 20,
| | 1988 by the Village of Lansing;
|
| (101) if the ordinance was adopted on October 27,
| | 1998 by the City of Moline;
|
| (102) if the ordinance was adopted on May 21, 1991 by
| | (103) if the ordinance was adopted on January 28,
| | 1992 by the City of East Peoria;
|
| (104) if the ordinance was adopted on December 14,
| | 1998 by the City of Carlyle;
|
| (105) if the ordinance was adopted on May 17, 2000,
| | as subsequently amended, by the City of Chicago to create the Midwest Redevelopment TIF District;
|
| (106) if the ordinance was adopted on September 13,
| | 1989 by the City of Chicago to create the Michigan/Cermak Area TIF District;
|
| (107) if the ordinance was adopted on March 30, 1992
| | (108) if the ordinance was adopted on July 6, 1998 by
| | the Village of Orangeville;
|
| (109) if the ordinance was adopted on December 16,
| | 1997 by the Village of Germantown;
|
| (110) if the ordinance was adopted on April 28, 2003
| | (111) if the ordinance was adopted on December 18,
| | 1990 by the Village of Washington Park, but only after the Village of Washington Park becomes compliant with the reporting requirements under subsection (d) of Section 11-74.4-5, and after the State Comptroller's certification of such compliance;
|
| (112) if the ordinance was adopted on February 28,
| | 2000 by the City of Harvey; or
|
| (113) if the ordinance was adopted on March 15, 2004
| | (d) For redevelopment project areas for which bonds were issued before
July 29, 1991, or for which contracts were entered into before June 1,
1988, in connection with a redevelopment project in the area within
the State Sales Tax Boundary, the estimated dates of completion of the
redevelopment project and retirement of obligations to finance redevelopment
project costs (including refunding bonds under Section 11-74.4-7) may be extended by municipal ordinance to December 31, 2013.
The termination procedures of subsection (b) of Section 11-74.4-8 are not
required for
these redevelopment project areas in 2009 but are required in 2013.
The extension allowed by Public Act 87-1272 shall not apply to real
property tax increment allocation financing under Section 11-74.4-8.
(e) Those dates, for purposes of real property tax increment allocation
financing pursuant to Section 11-74.4-8 only, shall be not more than 35 years
for redevelopment project areas that were adopted on or after December 16,
1986 and for which at least $8 million worth of municipal bonds were authorized
on or after December 19, 1989 but before January 1, 1990; provided that the
municipality elects to extend the life of the redevelopment project area to 35
years by the adoption of an ordinance after at least 14 but not more than 30
days' written notice to the taxing bodies, that would otherwise constitute the
joint review board for the redevelopment project area, before the adoption of
the ordinance.
(f) Those dates, for purposes of real property tax increment allocation
financing pursuant to Section 11-74.4-8 only, shall be not more than 35 years
for redevelopment project areas that were established on or after December 1,
1981 but before January 1, 1982 and for which at least $1,500,000 worth of
tax increment revenue bonds were authorized
on or after September 30, 1990 but before July 1, 1991; provided that the
municipality elects to extend the life of the redevelopment project area to 35
years by the adoption of an ordinance after at least 14 but not more than 30
days' written notice to the taxing bodies, that would otherwise constitute the
joint review board for the redevelopment project area, before the adoption of
the ordinance.
(g) In consolidating the material relating to completion dates from Sections 11-74.4-3 and 11-74.4-7 into this Section, it is not the intent of the General Assembly to make any substantive change in the law, except for the extension of the completion dates for the City of Aurora, the Village of Milan,
the City of West Frankfort, the Village of Libertyville, and the Village of Hoffman Estates set forth under items (67),
(68), (69), (70), and (71) of subsection (c) of this Section.
(Source: P.A. 97-93, eff. 1-1-12; 97-372, eff. 8-15-11; 97-600, eff. 8-26-11; 97-633, eff. 12-16-11; 97-635, eff. 12-16-11; 97-807, eff. 7-13-12; 97-1114, eff. 8-27-12; 98-109, eff. 7-25-13; 98-135, eff. 8-2-13; 98-230, eff. 8-9-13; 98-463, eff. 8-16-13; 98-614, eff. 12-27-13; 98-1157, eff. 1-9-15.)
(Text of Section from P.A. 98-1159)
Sec. 11-74.4-3.5. Completion dates for redevelopment projects.
(a) Unless otherwise stated in this Section, the estimated dates of completion
of the redevelopment project and retirement of obligations issued to finance
redevelopment project costs (including refunding bonds under Section 11-74.4-7) may not be
later than December 31 of the year in which the payment to the municipal
treasurer, as provided in subsection (b) of Section 11-74.4-8 of this Act, is to
be made with respect to ad valorem taxes levied in the 23rd
calendar year after the year in which the ordinance approving the
redevelopment project area was adopted if the ordinance was adopted on or after
January 15, 1981.
(b) The estimated dates of completion of the redevelopment project and retirement of obligations issued to finance redevelopment project costs (including refunding bonds under Section 11-74.4-7) may not be later than December 31 of the year in which the payment to the municipal treasurer as provided in subsection (b) of Section 11-74.4-8 of this Act is to be made with respect to ad valorem taxes levied in the 32nd calendar year after the year in which the ordinance approving the redevelopment project area was adopted if the ordinance was adopted on September 9, 1999 by the Village of Downs.
The estimated dates of completion
of the redevelopment project and retirement of obligations issued to finance
redevelopment project costs (including refunding bonds under Section 11-74.4-7) may not be later than December 31 of the year in which the payment to the municipal
treasurer as provided in subsection (b) of Section 11-74.4-8 of this Act is to
be made with respect to ad valorem taxes levied in the 33rd calendar
year after the year in which the ordinance approving the
redevelopment project area was adopted if the ordinance was adopted on May 20, 1985 by the Village of Wheeling.
The estimated dates of completion of the redevelopment project and retirement of obligations issued to finance redevelopment project costs (including refunding bonds under Section 11-74.4-7) may not be later than December 31 of the year in which the payment to the municipal treasurer as provided in subsection (b) of Section 11-74.4-8 of this Act is to be made with respect to ad valorem taxes levied in the 28th calendar year after the year in which the ordinance approving the redevelopment project area was adopted if the ordinance was adopted on October 12, 1989 by the City of Lawrenceville.
(c) The estimated dates of completion
of the redevelopment project and retirement of obligations issued to finance
redevelopment project costs (including refunding bonds under Section 11-74.4-7) may not be later than December 31 of the year in which the payment to the municipal
treasurer as provided in subsection (b) of Section 11-74.4-8 of this Act is to
be made with respect to ad valorem taxes levied in the 35th calendar
year after the year in which the ordinance approving the
redevelopment project area was adopted:
(1) if the ordinance was adopted before January 15,
| | (2) if the ordinance was adopted in December 1983,
| | April 1984, July 1985, or December 1989;
|
| (3) if the ordinance was adopted in December 1987 and
| | the redevelopment project is located within one mile of Midway Airport;
|
| (4) if the ordinance was adopted before January 1,
| | 1987 by a municipality in Mason County;
|
| (5) if the municipality is subject to the Local
| | Government Financial Planning and Supervision Act or the Financially Distressed City Law;
|
| (6) if the ordinance was adopted in December 1984 by
| | (7) if the ordinance was adopted on December 31, 1986
| | by a municipality located in Clinton County for which at least $250,000 of tax increment bonds were authorized on June 17, 1997, or if the ordinance was adopted on December 31, 1986 by a municipality with a population in 1990 of less than 3,600 that is located in a county with a population in 1990 of less than 34,000 and for which at least $250,000 of tax increment bonds were authorized on June 17, 1997;
|
| (8) if the ordinance was adopted on October 5, 1982
| | by the City of Kankakee, or if the ordinance was adopted on December 29, 1986 by East St. Louis;
|
| (9) if the ordinance was adopted on November 12, 1991
| | by the Village of Sauget;
|
| (10) if the ordinance was adopted on February 11,
| | 1985 by the City of Rock Island;
|
| (11) if the ordinance was adopted before December 18,
| | 1986 by the City of Moline;
|
| (12) if the ordinance was adopted in September 1988
| | (13) if the ordinance was adopted in October 1993 by
| | (14) if the ordinance was adopted on December 29,
| | 1986 by the City of Galva;
|
| (15) if the ordinance was adopted in March 1991 by
| | (16) if the ordinance was adopted on January 23, 1991
| | by the City of East St. Louis;
|
| (17) if the ordinance was adopted on December 22,
| | 1986 by the City of Aledo;
|
| (18) if the ordinance was adopted on February 5, 1990
| | (19) if the ordinance was adopted on September 6,
| | 1994 by the City of Freeport;
|
| (20) if the ordinance was adopted on December 22,
| | 1986 by the City of Tuscola;
|
| (21) if the ordinance was adopted on December 23,
| | 1986 by the City of Sparta;
|
| (22) if the ordinance was adopted on December 23,
| | 1986 by the City of Beardstown;
|
| (23) if the ordinance was adopted on April 27, 1981,
| | October 21, 1985, or December 30, 1986 by the City of Belleville;
|
| (24) if the ordinance was adopted on December 29,
| | 1986 by the City of Collinsville;
|
| (25) if the ordinance was adopted on September 14,
| | 1994 by the City of Alton;
|
| (26) if the ordinance was adopted on November 11,
| | 1996 by the City of Lexington;
|
| (27) if the ordinance was adopted on November 5, 1984
| | (28) if the ordinance was adopted on April 3, 1991 or
| | June 3, 1992 by the City of Markham;
|
| (29) if the ordinance was adopted on November 11,
| | 1986 by the City of Pekin;
|
| (30) if the ordinance was adopted on December 15,
| | 1981 by the City of Champaign;
|
| (31) if the ordinance was adopted on December 15,
| | 1986 by the City of Urbana;
|
| (32) if the ordinance was adopted on December 15,
| | 1986 by the Village of Heyworth;
|
| (33) if the ordinance was adopted on February 24,
| | 1992 by the Village of Heyworth;
|
| (34) if the ordinance was adopted on March 16, 1995
| | by the Village of Heyworth;
|
| (35) if the ordinance was adopted on December 23,
| | 1986 by the Town of Cicero;
|
| (36) if the ordinance was adopted on December 30,
| | 1986 by the City of Effingham;
|
| (37) if the ordinance was adopted on May 9, 1991 by
| | (38) if the ordinance was adopted on October 20, 1986
| | (39) if the ordinance was adopted on January 19, 1988
| | (40) if the ordinance was adopted on September 21,
| | 1998 by the City of Waukegan;
|
| (41) if the ordinance was adopted on December 31,
| | 1986 by the City of Sullivan;
|
| (42) if the ordinance was adopted on December 23,
| | 1991 by the City of Sullivan;
|
| (43) if the ordinance was adopted on December 31,
| | 1986 by the City of Oglesby;
|
| (44) if the ordinance was adopted on July 28, 1987 by
| | (45) if the ordinance was adopted on April 23, 1990
| | (46) if the ordinance was adopted on August 20, 1985
| | by the Village of Mount Prospect;
|
| (47) if the ordinance was adopted on February 2, 1998
| | by the Village of Woodhull;
|
| (48) if the ordinance was adopted on April 20, 1993
| | by the Village of Princeville;
|
| (49) if the ordinance was adopted on July 1, 1986 by
| | the City of Granite City;
|
| (50) if the ordinance was adopted on February 2, 1989
| | by the Village of Lombard;
|
| (51) if the ordinance was adopted on December 29,
| | 1986 by the Village of Gardner;
|
| (52) if the ordinance was adopted on July 14, 1999 by
| | (53) if the ordinance was adopted on November 17,
| | 1986 by the Village of Franklin Park;
|
| (54) if the ordinance was adopted on November 20,
| | 1989 by the Village of South Holland;
|
| (55) if the ordinance was adopted on July 14, 1992 by
| | the Village of Riverdale;
|
| (56) if the ordinance was adopted on December 29,
| | 1986 by the City of Galesburg;
|
| (57) if the ordinance was adopted on April 1, 1985 by
| | (58) if the ordinance was adopted on May 21, 1990 by
| | the City of West Chicago;
|
| (59) if the ordinance was adopted on December 16,
| | 1986 by the City of Oak Forest;
|
| (60) if the ordinance was adopted in 1999 by the City
| | (61) if the ordinance was adopted on January 13, 1987
| | by the Village of Mt. Zion;
|
| (62) if the ordinance was adopted on December 30,
| | 1986 by the Village of Manteno;
|
| (63) if the ordinance was adopted on April 3, 1989 by
| | the City of Chicago Heights;
|
| (64) if the ordinance was adopted on January 6, 1999
| | by the Village of Rosemont;
|
| (65) if the ordinance was adopted on December 19,
| | 2000 by the Village of Stone Park;
|
| (66) if the ordinance was adopted on December 22,
| | 1986 by the City of DeKalb;
|
| (67) if the ordinance was adopted on December 2,
| | 1986 by the City of Aurora;
|
| (68) if the ordinance was adopted on December 31,
| | 1986 by the Village of Milan;
|
| (69) if the ordinance was adopted on September 8,
| | 1994 by the City of West Frankfort;
|
| (70) if the ordinance was adopted on December 23,
| | 1986 by the Village of Libertyville;
|
| (71) if the ordinance was adopted on December 22,
| | 1986 by the Village of Hoffman Estates;
|
| (72) if the ordinance was adopted on September 17,
| | 1986 by the Village of Sherman;
|
| (73) if the ordinance was adopted on December 16,
| | 1986 by the City of Macomb;
|
| (74) if the ordinance was adopted on June 11, 2002 by
| | the City of East Peoria to create the West Washington Street TIF;
|
| (75) if the ordinance was adopted on June 11, 2002 by
| | the City of East Peoria to create the Camp Street TIF;
|
| (76) if the ordinance was adopted on August 7, 2000
| | by the City of Des Plaines;
|
| (77) if the ordinance was adopted on December 22,
| | 1986 by the City of Washington to create the Washington Square TIF #2;
|
| (78) if the ordinance was adopted on December 29,
| | 1986 by the City of Morris;
|
| (79) if the ordinance was adopted on July 6, 1998 by
| | the Village of Steeleville;
|
| (80) if the ordinance was adopted on December 29,
| | 1986 by the City of Pontiac to create TIF I (the Main St TIF);
|
| (81) if the ordinance was adopted on December 29,
| | 1986 by the City of Pontiac to create TIF II (the Interstate TIF);
|
| (82) if the ordinance was adopted on November 6, 2002
| | by the City of Chicago to create the Madden/Wells TIF District;
|
| (83) if the ordinance was adopted on November 4, 1998
| | by the City of Chicago to create the Roosevelt/Racine TIF District;
|
| (84) if the ordinance was adopted on June 10, 1998 by
| | the City of Chicago to create the Stony Island Commercial/Burnside Industrial Corridors TIF District;
|
| (85) if the ordinance was adopted on November 29,
| | 1989 by the City of Chicago to create the Englewood Mall TIF District;
|
| (86) if the ordinance was adopted on December 27,
| | 1986 by the City of Mendota;
|
| (87) if the ordinance was adopted on December 31,
| | 1986 by the Village of Cahokia;
|
| (88) if the ordinance was adopted on September 20,
| | 1999 by the City of Belleville;
|
| (89) if the ordinance was adopted on December 30,
| | 1986 by the Village of Bellevue to create the Bellevue TIF District 1;
|
| (90) if the ordinance was adopted on December 13,
| | 1993 by the Village of Crete;
|
| (91) if the ordinance was adopted on February 12,
| | 2001 by the Village of Crete;
|
| (92) if the ordinance was adopted on April 23, 2001
| | (93) if the ordinance was adopted on December 16,
| | 1986 by the City of Champaign;
|
| (94) if the ordinance was adopted on December 20,
| | 1986 by the City of Charleston;
|
| (95) if the ordinance was adopted on June 6, 1989 by
| | the Village of Romeoville;
|
| (96) if the ordinance was adopted on October 14, 1993
| | and amended on August 2, 2010 by the City of Venice;
|
| (97) if the ordinance was adopted on June 1, 1994 by
| | (98) if the ordinance was adopted on May 19, 1998 by
| | the Village of Bensenville;
|
| (99) if the ordinance was adopted on November 12,
| | 1987 by the City of Dixon;
|
| (100) if the ordinance was adopted on December 20,
| | 1988 by the Village of Lansing;
|
| (101) if the ordinance was adopted on October 27,
| | 1998 by the City of Moline;
|
| (102) if the ordinance was adopted on May 21, 1991 by
| | (103) if the ordinance was adopted on January 28,
| | 1992 by the City of East Peoria;
|
| (104) if the ordinance was adopted on December 14,
| | 1998 by the City of Carlyle;
|
| (105) if the ordinance was adopted on May 17, 2000,
| | as subsequently amended, by the City of Chicago to create the Midwest Redevelopment TIF District;
|
| (106) if the ordinance was adopted on September 13,
| | 1989 by the City of Chicago to create the Michigan/Cermak Area TIF District;
|
| (107) if the ordinance was adopted on March 30, 1992
| | (108) if the ordinance was adopted on July 6, 1998 by
| | the Village of Orangeville;
|
| (109) if the ordinance was adopted on December 16,
| | 1997 by the Village of Germantown;
|
| (110) if the ordinance was adopted on April 28, 2003
| | (111) if the ordinance was adopted on December 18,
| | 1990 by the Village of Washington Park, but only after the Village of Washington Park becomes compliant with the reporting requirements under subsection (d) of Section 11-74.4-5, and after the State Comptroller's certification of such compliance;
|
| (112) if the ordinance was adopted on February 28,
| | 2000 by the City of Harvey;
|
| (113) if the ordinance was adopted on January 11,
| | 1991 by the City of Chicago to create the Read/Dunning TIF District;
|
| (114) if the ordinance was adopted on July 24, 1991
| | by the City of Chicago to create the Sanitary and Ship Canal TIF District;
|
| (115) if the ordinance was adopted on December 4,
| | 2007 by the City of Naperville;
|
| (116) if the ordinance was adopted on July 1, 2002 by
| | the Village of Arlington Heights;
|
| (117) if the ordinance was adopted on February 11,
| | 1991 by the Village of Machesney Park;
|
| (118) if the ordinance was adopted on December 29,
| | 1993 by the City of Ottawa; or
|
| (119) if the ordinance was adopted on March 18, 2002
| | by the Village of Lake Zurich.
|
| (d) For redevelopment project areas for which bonds were issued before
July 29, 1991, or for which contracts were entered into before June 1,
1988, in connection with a redevelopment project in the area within
the State Sales Tax Boundary, the estimated dates of completion of the
redevelopment project and retirement of obligations to finance redevelopment
project costs (including refunding bonds under Section 11-74.4-7) may be extended by municipal ordinance to December 31, 2013.
The termination procedures of subsection (b) of Section 11-74.4-8 are not
required for
these redevelopment project areas in 2009 but are required in 2013.
The extension allowed by Public Act 87-1272 shall not apply to real
property tax increment allocation financing under Section 11-74.4-8.
(e) Those dates, for purposes of real property tax increment allocation
financing pursuant to Section 11-74.4-8 only, shall be not more than 35 years
for redevelopment project areas that were adopted on or after December 16,
1986 and for which at least $8 million worth of municipal bonds were authorized
on or after December 19, 1989 but before January 1, 1990; provided that the
municipality elects to extend the life of the redevelopment project area to 35
years by the adoption of an ordinance after at least 14 but not more than 30
days' written notice to the taxing bodies, that would otherwise constitute the
joint review board for the redevelopment project area, before the adoption of
the ordinance.
(f) Those dates, for purposes of real property tax increment allocation
financing pursuant to Section 11-74.4-8 only, shall be not more than 35 years
for redevelopment project areas that were established on or after December 1,
1981 but before January 1, 1982 and for which at least $1,500,000 worth of
tax increment revenue bonds were authorized
on or after September 30, 1990 but before July 1, 1991; provided that the
municipality elects to extend the life of the redevelopment project area to 35
years by the adoption of an ordinance after at least 14 but not more than 30
days' written notice to the taxing bodies, that would otherwise constitute the
joint review board for the redevelopment project area, before the adoption of
the ordinance.
(g) In consolidating the material relating to completion dates from Sections 11-74.4-3 and 11-74.4-7 into this Section, it is not the intent of the General Assembly to make any substantive change in the law, except for the extension of the completion dates for the City of Aurora, the Village of Milan,
the City of West Frankfort, the Village of Libertyville, and the Village of Hoffman Estates set forth under items (67),
(68), (69), (70), and (71) of subsection (c) of this Section.
(Source: P.A. 97-93, eff. 1-1-12; 97-372, eff. 8-15-11; 97-600, eff. 8-26-11; 97-633, eff. 12-16-11; 97-635, eff. 12-16-11; 97-807, eff. 7-13-12; 97-1114, eff. 8-27-12; 98-109, eff. 7-25-13; 98-135, eff. 8-2-13; 98-230, eff. 8-9-13; 98-463, eff. 8-16-13; 98-614, eff. 12-27-13; 98-667, eff. 6-25-14; 98-889, eff. 8-15-14; 98-893, eff. 8-15-14; 98-1064, eff. 8-26-14; 98-1159, eff. 1-9-15.)
|
(65 ILCS 5/11-74.4-4) (from Ch. 24, par. 11-74.4-4)
Sec. 11-74.4-4. Municipal powers and duties; redevelopment project
areas. The changes made by this amendatory Act of the 91st General Assembly
do not apply to a municipality that, (i) before the effective date of this
amendatory Act of the 91st General Assembly, has adopted an ordinance or
resolution fixing a time and place for a
public hearing under Section 11-74.4-5 or (ii) before July 1, 1999, has
adopted an ordinance or resolution providing for a feasibility study under
Section 11-74.4-4.1, but has not yet adopted an ordinance
approving redevelopment plans and redevelopment projects or designating
redevelopment project areas under this Section, until after that
municipality adopts an ordinance
approving redevelopment plans and redevelopment projects or designating
redevelopment project areas under this Section; thereafter the changes made by
this amendatory Act of the 91st General Assembly apply to the same extent that
they apply to
redevelopment plans and redevelopment projects that were approved and
redevelopment projects that were designated before the effective date of this
amendatory Act of the 91st General Assembly.
A municipality may:
(a) By ordinance introduced in the
governing body of the municipality within 14 to 90 days from the completion
of the hearing specified in Section 11-74.4-5
approve redevelopment plans and redevelopment projects, and designate
redevelopment project areas pursuant to notice and hearing required by this
Act. No redevelopment project area shall be designated unless a plan and
project are approved
prior to the designation of such area and such area
shall include only those contiguous parcels of real property and
improvements thereon substantially benefited by the proposed redevelopment
project improvements.
Upon adoption of the ordinances, the municipality shall forthwith transmit to
the county clerk of the county or counties within which the redevelopment
project area is located a certified copy of the ordinances, a legal description
of the redevelopment project area, a map of the redevelopment project area,
identification of the year that the county clerk shall use for determining the
total initial equalized assessed value of the redevelopment project area
consistent with subsection (a) of Section 11-74.4-9, and a
list of the parcel or tax identification number of each parcel of property
included in the redevelopment project area.
(b) Make and enter into all contracts with property owners, developers,
tenants, overlapping taxing bodies, and others necessary or incidental to the
implementation and furtherance of its redevelopment plan and project.
Contract provisions concerning loan repayment obligations in contracts
entered into on or after the effective date of this amendatory Act
of
the 93rd
General Assembly shall terminate no later than the last to occur of the
estimated dates of
completion of the
redevelopment project and retirement of the obligations issued to finance
redevelopment
project costs as required by item (3) of subsection (n) of Section 11-74.4-3.
Payments received under
contracts entered
into by the
municipality prior to the effective date of this amendatory Act of the 93rd
General
Assembly that are received after the redevelopment project area has been
terminated by
municipal ordinance shall be deposited into a special fund of the municipality
to be used
for other community redevelopment needs within the redevelopment project
area.
(c) Within a redevelopment project area, acquire by purchase, donation,
lease or
eminent domain; own, convey, lease, mortgage or dispose of land
and other property, real or personal, or rights or interests therein, and
grant or acquire licenses, easements and options with respect thereto, all
in the manner and at such price the municipality determines is reasonably
necessary to achieve the objectives of the redevelopment plan and project.
No conveyance, lease, mortgage, disposition of land or other property owned
by a municipality, or
agreement relating to the development of such municipal property
shall be
made except
upon the adoption of an ordinance by the corporate authorities of the
municipality. Furthermore, no conveyance, lease, mortgage, or other
disposition of land owned by a municipality or agreement relating to the
development of such municipal property
shall be made without making public disclosure of the terms of the
disposition and all bids and proposals made in response to the
municipality's request. The procedures for obtaining such bids and
proposals shall provide reasonable opportunity for any person to submit
alternative proposals or bids.
(d) Within a redevelopment project area, clear any area by
demolition or removal of any existing buildings and structures.
(e) Within a redevelopment project area, renovate or rehabilitate or
construct any structure or building, as permitted under this Act.
(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) Within a redevelopment project area, fix, charge and collect fees,
rents and charges for the use of any building or property owned or leased
by it or any part thereof, or facility therein.
(h) Accept grants, guarantees and donations of property, labor, or other
things of value from a public or private source for use within a project
redevelopment area.
(i) Acquire and construct public facilities within a redevelopment project
area, as permitted under this Act.
(j) Incur project redevelopment costs and reimburse developers who incur
redevelopment project costs authorized by a redevelopment agreement; provided,
however, that on and
after the effective date of this amendatory
Act of the 91st General Assembly, no municipality shall incur redevelopment
project costs (except for planning costs and any other eligible costs
authorized by municipal ordinance or resolution that are subsequently included
in the
redevelopment plan for the area and are incurred by the municipality after the
ordinance or resolution is adopted)
that are
not consistent with the program for
accomplishing the objectives of the
redevelopment plan as included in that plan and approved by the
municipality until the municipality has amended
the redevelopment plan as provided elsewhere in this Act.
(k) Create a commission of not less than 5 or more than 15 persons to
be appointed by the mayor or president of the municipality with the consent
of the majority of the governing board of the municipality. Members of a
commission appointed after the effective date of this amendatory Act of
1987 shall be appointed for initial terms of 1, 2, 3, 4 and 5 years,
respectively, in such numbers as to provide that the terms of not more than
1/3 of all such members shall expire in any one year. Their successors
shall be appointed for a term of 5 years. The commission, subject to
approval of the corporate authorities may exercise the powers enumerated in
this Section. The commission shall also have the power to hold the public
hearings required by this division and make recommendations to the
corporate authorities concerning the adoption of redevelopment plans,
redevelopment projects and designation of redevelopment project areas.
(l) Make payment in lieu of taxes or a portion thereof to taxing districts.
If payments in lieu of taxes or a portion thereof are made to taxing districts,
those payments shall be made to all districts within a project redevelopment
area on a basis which is proportional to the current collections of revenue
which each taxing district receives from real property in the redevelopment
project area.
(m) Exercise any and all other powers necessary to effectuate the purposes
of this Act.
(n) If any member of the corporate authority, a member of a commission
established pursuant to Section 11-74.4-4(k) of this Act, or an employee
or consultant of the municipality involved in the planning and preparation
of a redevelopment plan, or project for a redevelopment project area or
proposed redevelopment project area, as defined in Sections 11-74.4-3(i)
through (k) of this Act, owns or controls an interest, direct or indirect,
in any property included in any redevelopment area, or proposed
redevelopment area, he or she shall disclose the same in writing to the
clerk of the municipality, and shall also so disclose the dates and terms
and conditions of any disposition of any such interest, which disclosures
shall be acknowledged by the corporate authorities and entered upon the
minute books of the corporate authorities. If an individual
holds such an interest then that individual shall refrain from any further
official involvement in regard to such redevelopment plan, project or area,
from voting on any matter pertaining to such redevelopment plan, project
or area, or communicating with other members concerning corporate authorities,
commission or employees concerning any matter pertaining to said redevelopment
plan, project or area. Furthermore, no such member or employee shall acquire
of any interest direct, or indirect, in any property in a redevelopment
area or proposed redevelopment area after either (a) such individual obtains
knowledge of such plan, project or area or (b) first public notice of such
plan, project or area pursuant to Section 11-74.4-6 of this Division, whichever
occurs first.
For the
purposes of this subsection, a property interest
acquired in a
single parcel of property by a member of the corporate authority, which
property
is used
exclusively as the member's primary residence, shall not be deemed to
constitute an
interest in any property included in a redevelopment area or proposed
redevelopment area
that was established before December 31, 1989, but the member must disclose the
acquisition to the municipal clerk under the provisions of this subsection.
A single property interest
acquired within one year after the effective date of this amendatory Act of the 94th General Assembly or 2 years after the effective date of this amendatory Act of the 95th General Assembly by a member of the corporate authority does not
constitute an
interest in any property included in any redevelopment area or proposed
redevelopment area, regardless of when the redevelopment area was established, if (i) the
property
is used
exclusively as the member's primary residence, (ii) the member discloses the acquisition to the municipal clerk under the provisions of this subsection, (iii) the acquisition is for fair market value, (iv) the member acquires the property as a result of the property being publicly advertised for sale, and (v) the member refrains from voting on, and communicating with other members concerning, any matter when the benefits to the redevelopment project or area would be significantly greater than the benefits to the municipality as a whole. For the purposes of this subsection, a month-to-month leasehold interest
in a single parcel of property by a member of the corporate authority
shall not be deemed to constitute an interest in any property included in any
redevelopment area or proposed redevelopment area, but the member must disclose
the interest to the municipal clerk under the provisions of this subsection.
(o) Create a Tax Increment Economic Development Advisory Committee to
be appointed by the Mayor or President of the municipality with the consent
of the majority of the governing board of the municipality, the members of
which Committee shall be appointed for initial terms of 1, 2, 3, 4 and 5
years respectively, in such numbers as to provide that the terms of not
more than 1/3 of all such members shall expire in any one year. Their
successors shall be appointed for a term of 5 years. The Committee shall
have none of the powers enumerated in this Section. The Committee shall
serve in an advisory capacity only. The Committee may advise the governing
Board of the municipality and other municipal officials regarding
development issues and opportunities within the redevelopment project area
or the area within the State Sales Tax Boundary. The Committee may also
promote and publicize development opportunities in the redevelopment
project area or the area within the State Sales Tax Boundary.
(p) Municipalities may jointly undertake and perform redevelopment plans
and projects and utilize the provisions of the Act wherever they have
contiguous redevelopment project areas or they determine to adopt tax
increment financing with respect to a redevelopment project area which
includes contiguous real property within the boundaries of the
municipalities, and in doing so, they may, by agreement between
municipalities, issue obligations, separately or jointly, and expend
revenues received under the Act for eligible expenses anywhere within
contiguous redevelopment project areas or as otherwise permitted in the Act.
(q) Utilize revenues, other than State sales tax increment revenues,
received under this Act from one redevelopment project area for
eligible
costs in another redevelopment project area that is:
(i) contiguous to the redevelopment project area from
| | which the revenues are received;
|
| (ii) separated only by a public right of way from the
| | redevelopment project area from which the revenues are received; or
|
| (iii) separated only by forest preserve property from
| | the redevelopment project area from which the revenues are received if the closest boundaries of the redevelopment project areas that are separated by the forest preserve property are less than one mile apart.
|
| Utilize tax increment revenues for eligible costs that are received from a
redevelopment project area created under the Industrial Jobs Recovery Law that
is either contiguous to, or is separated only by a public right of way from,
the redevelopment project area created under this Act which initially receives
these revenues. Utilize revenues, other than State sales tax increment
revenues, by transferring or loaning such revenues to a redevelopment project
area created under the Industrial Jobs Recovery Law that is either contiguous
to, or separated only by a public right of way from the redevelopment project
area that initially produced and received those revenues; and, if the
redevelopment
project area (i) was established before the effective date of this amendatory
Act of the 91st General Assembly and (ii) is located within a municipality with
a population of more than 100,000,
utilize revenues or proceeds of obligations authorized by Section 11-74.4-7 of
this
Act, other than use or occupation tax revenues, to pay for any redevelopment
project costs as defined by subsection (q) of Section 11-74.4-3 to the extent
that the redevelopment project costs involve public property that is either
contiguous to, or separated only by a public right of way from, a redevelopment
project area whether or not redevelopment project costs or the source of
payment for the costs are specifically set forth in the redevelopment plan for
the redevelopment project area.
(r) If no redevelopment project has been initiated in a
redevelopment
project area within 7 years after the area was designated by ordinance under
subsection (a), the municipality shall adopt an ordinance repealing the area's
designation as a redevelopment project area; provided, however, that if an area
received its
designation more than 3 years before the effective date of this amendatory Act
of 1994 and no redevelopment project has been initiated
within 4 years after the effective date of this amendatory Act of 1994, the
municipality shall adopt an ordinance repealing its designation as a
redevelopment project area. Initiation of a redevelopment project shall be
evidenced by either a signed redevelopment agreement or expenditures on
eligible redevelopment project costs associated with a redevelopment project.
Notwithstanding any other provision of this Section to the contrary, with respect to a redevelopment project area designated by an ordinance that was adopted on July 29, 1998 by the City of Chicago, the City of Chicago shall adopt an ordinance repealing the area's designation as a redevelopment project area if no redevelopment project has been initiated in the redevelopment project area within 15 years after the designation of the area. The City of Chicago may retroactively repeal any ordinance adopted by the City of Chicago, pursuant to this subsection (r), that repealed the designation of a redevelopment project area designated by an ordinance that was adopted by the City of Chicago on July 29, 1998. The City of Chicago has 90 days after the effective date of this amendatory Act to repeal the ordinance. The changes to this Section made by this amendatory Act of the 96th General Assembly apply retroactively to July 27, 2005.
(Source: P.A. 96-1555, eff. 3-18-11; 97-333, eff. 8-12-11.)
|
(65 ILCS 5/11-74.4-4.1)
Sec. 11-74.4-4.1.
Feasibility study.
(a) If a municipality by its corporate authorities, or as it
may determine by any commission designated under
subsection (k) of Section 11-74.4-4, adopts an ordinance or resolution
providing
for a feasibility study on the designation of an area as a redevelopment
project area, a copy
of the ordinance or resolution shall immediately be sent to all taxing
districts that would be affected by the designation.
On and after the effective date of this amendatory Act of the 91st General
Assembly, the
ordinance
or resolution shall include:
(1) The boundaries of the area to be studied for
| | possible designation as a redevelopment project area.
|
|
(2) The purpose or purposes of the proposed
| | redevelopment plan and project.
|
|
(3) A general description of tax increment allocation
| | financing under this Act.
|
|
(4) The name, phone number, and address of the
| | municipal officer who can be contacted for additional information about the proposed redevelopment project area and who should receive all comments and suggestions regarding the redevelopment of the area to be studied.
|
|
(b) If one of the purposes of the planned redevelopment project area should
reasonably be expected to
result in the displacement of
residents from 10 or more
inhabited residential units, the
municipality shall adopt a resolution or ordinance providing for the
feasibility
study described in subsection (a). The ordinance or resolution shall also
require that the feasibility study include the preparation of the housing
impact study set forth in paragraph (5) of subsection (n) of Section 11-74.4-3.
If the redevelopment plan will not result in displacement of
residents
from 10 or more inhabited residential units, and the municipality
certifies in the plan that
such displacement will not result from the plan, then a resolution or
ordinance need not
be adopted.
(c) As used in this Section, "feasibility study" means a preliminary
report to assist
a
municipality to determine whether or not tax increment allocation financing is
appropriate
for effective
redevelopment of a proposed redevelopment project area.
(Source: P.A. 92-263, eff. 8-7-01; 92-624, eff.
7-11-02; 93-298, eff. 7-23-03.)
|
(65 ILCS 5/11-74.4-4.2)
Sec. 11-74.4-4.2.
Interested parties registry.
On and after the effective
date of this amendatory Act of the 91st General Assembly, the municipality
shall by its corporate
authority create an "interested
parties" registry for activities related to the redevelopment project area.
The
municipality shall adopt reasonable registration rules and shall prescribe the
necessary registration forms for residents and organizations active within the
municipality that seek to be placed on the "interested parties" registry. At a
minimum, the rules for registration shall provide for a renewable period of
registration of not less than 3 years and notification to registered
organizations and individuals by mail at the address provided upon
registration prior to termination of their registration, unless the
municipality decides that it will establish a policy of not terminating
interested parties from the registry, in which case no notice will be required.
Such rules shall not
be used to prohibit or otherwise interfere with the ability of eligible
organizations and individuals to register for receipt of information to which
they are entitled under this statute, including the information required by:
(1) subsection (a) of Section 11-74.4-5;
(2) paragraph (9) of subsection (d) of Section 11-74.4-5; and
(3) subsection (e) of Section 11-74.4-6.
(Source: P.A. 91-478, eff. 11-1-99.)
|
(65 ILCS 5/11-74.4-5) (from Ch. 24, par. 11-74.4-5)
Sec. 11-74.4-5. Public hearing; joint review board.
(a) The changes made by this amendatory Act of the 91st
General Assembly do not apply to a municipality that, (i) before the
effective date of this amendatory Act of the 91st General Assembly,
has adopted an ordinance or resolution fixing a time and place for a
public hearing under this Section or (ii) before July 1, 1999, has adopted
an ordinance or resolution providing for a feasibility study under Section
11-74.4-4.1, but has not yet adopted an ordinance
approving redevelopment plans and redevelopment projects or designating
redevelopment project areas under Section 11-74.4-4, until after that
municipality adopts an ordinance
approving redevelopment plans and redevelopment projects or designating
redevelopment project areas under Section 11-74.4-4; thereafter the changes
made by this amendatory Act of the 91st General Assembly apply to the same
extent that they apply to
redevelopment plans and redevelopment projects that were approved and
redevelopment projects that were designated before the effective date of this
amendatory Act of the 91st General Assembly.
Prior to the adoption of an ordinance proposing the
designation of a redevelopment project area, or approving a
redevelopment plan or redevelopment project, the municipality by its
corporate authorities, or as it may determine by any commission
designated under subsection (k) of Section 11-74.4-4 shall adopt an
ordinance or resolution fixing
a time and place for public hearing.
At least 10 days prior to the adoption of the ordinance or resolution
establishing the time
and place for the public hearing, the municipality shall make available for
public inspection a redevelopment plan or a separate report that provides in
reasonable detail the basis for the eligibility of
the redevelopment project area. The report along with the name of a
person to
contact for further information shall be sent within a reasonable time
after the adoption of such ordinance or resolution to the
affected taxing districts
by certified mail.
On and after the effective date of this amendatory Act of the 91st General
Assembly, the municipality shall print in a newspaper of general circulation
within the municipality a notice that interested persons may register with the
municipality in order to receive information on the proposed designation of a
redevelopment project area or the approval of a redevelopment plan. The notice
shall state the place of registration and the operating hours of that place.
The municipality shall have adopted reasonable rules to implement this
registration process under Section 11-74.4-4.2.
The municipality shall provide notice of the availability of the
redevelopment plan and eligibility report, including how to obtain this
information, by mail within a reasonable time after the adoption of the
ordinance or resolution, to all residential addresses that, after a good faith
effort, the municipality determines are located outside the proposed
redevelopment project area and within 750 feet of the
boundaries of the proposed redevelopment project area. This requirement is
subject to the limitation that in a municipality with a population of over
100,000, if the total number of residential addresses outside the proposed
redevelopment project area and within 750 feet of the
boundaries of the proposed redevelopment project area exceeds 750, the
municipality shall be required to provide the notice to only the 750
residential addresses that, after a good faith effort, the municipality
determines are outside the proposed redevelopment project area and closest
to the boundaries of the proposed redevelopment project
area.
Notwithstanding the foregoing, notice given after August 7, 2001 (the
effective date of Public Act 92-263) and before the effective date of this
amendatory Act of the 92nd General Assembly to residential addresses within 750
feet of the boundaries of a proposed redevelopment project area shall be deemed
to have been sufficiently given in compliance with this Act if given only to
residents outside the boundaries of the proposed redevelopment project area.
The notice shall also be provided by the municipality, regardless of its
population, to those organizations and residents that have registered with the
municipality for that information in accordance with the registration
guidelines established by the municipality under Section 11-74.4-4.2.
At the public hearing any
interested person or affected taxing district may file with the
municipal clerk written objections to and may be heard orally in respect
to any issues embodied in the notice. The municipality shall hear all protests
and objections at the hearing and 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
subsequent hearing.
At the public hearing or at any time prior to the
adoption by the municipality of an ordinance approving a redevelopment plan,
the municipality may make changes in the redevelopment plan. Changes which (1)
add additional parcels of property to the proposed redevelopment project area,
(2) substantially affect the general land uses proposed in the redevelopment
plan, (3) substantially change the nature of or extend the life of the
redevelopment project,
or (4) increase the number of inhabited residential units to be displaced from the redevelopment project area, as
measured from the time of creation of the redevelopment project area, to a total of more than
10,
shall be made only after the
municipality gives notice,
convenes a joint review board, and conducts a public hearing pursuant to the
procedures set forth in this Section and in Section 11-74.4-6 of this Act.
Changes which do not (1) add additional parcels of property to the proposed
redevelopment project area, (2) substantially affect the general land uses
proposed in the redevelopment plan, (3) substantially change the nature of
or extend the life of the redevelopment project,
or (4) increase the number of inhabited residential units to be displaced from the redevelopment project area, as
measured from the time of creation of the redevelopment project area, to a total
of more than 10,
may be made without further
hearing, provided that the municipality shall give notice of any such changes
by mail to each affected taxing district and registrant on the interested
parties registry, provided for under Section 11-74.4-4.2, and by publication in
a newspaper of
general circulation within the affected taxing district. Such notice by mail
and by publication shall each occur not later than 10 days following the
adoption by ordinance of such changes. Hearings with regard to a redevelopment
project area, project or plan may be held simultaneously.
(b) Prior to holding a public hearing to approve or amend a redevelopment
plan or to designate or add additional parcels of property to a redevelopment
project area, the municipality
shall convene a joint review board. The board shall consist of a representative
selected by each community college district, local elementary school
district and high school district or each local community unit school
district, park district, library district, township, fire protection
district, and county that will have the authority to
directly levy taxes on the property within the proposed redevelopment
project area at the time that the proposed redevelopment project area is
approved, a representative selected by the municipality and a public
member. The public member shall first be selected and then the board's
chairperson shall be selected by
a majority of the board members present and voting.
For redevelopment project areas with redevelopment plans or proposed
redevelopment plans that would
result in the displacement of residents from 10 or more inhabited residential
units or that include 75 or more inhabited residential units, the public member
shall be a person who resides in the redevelopment project area. If, as
determined by the housing impact study provided for in paragraph (5) of
subsection (n) of Section 11-74.4-3, or if no housing impact study is required
then based on other reasonable data, the majority of residential units are
occupied by very low, low, or moderate income households, as defined in Section
3 of the Illinois Affordable Housing Act, the public member shall be a person
who resides in very low, low, or moderate income housing within the
redevelopment project area. Municipalities with fewer than 15,000 residents
shall not be required to select a person who lives in very low, low, or
moderate income housing within the redevelopment project area, provided that
the redevelopment plan or project will not result in displacement of residents
from 10 or more inhabited units, and the municipality so certifies
in the plan. If no person satisfying these requirements is available or if no
qualified person will serve as the public member, then the joint review board
is relieved of this paragraph's selection requirements for the public
member.
Within 90 days of the effective date of this amendatory Act of the 91st
General Assembly, each municipality that designated a redevelopment project
area for which it was not required to convene a joint review board under this
Section shall convene a joint review board to perform the
duties specified under paragraph (e) of this Section.
All board members shall be appointed and the first board meeting shall be
held at least 14 days but not more than 28 days after the
mailing of notice by the
municipality to the taxing
districts as required by Section 11-74.4-6(c).
Notwithstanding the preceding sentence, a municipality that adopted either a
public hearing resolution or a feasibility resolution between July 1, 1999 and
July 1, 2000 that called for the meeting of the joint review board within 14
days of notice of public hearing to affected taxing districts is deemed to be
in compliance with the notice, meeting, and public hearing provisions of the
Act.
Such notice
shall also advise
the taxing bodies represented on the joint review board of the time and place
of the first meeting of the board. Additional meetings of the
board shall be held upon the call of any member. The municipality
seeking designation of the redevelopment project area shall provide
administrative support to the board.
The board shall review (i) the public record, planning documents and
proposed ordinances approving the redevelopment plan and
project and (ii) proposed amendments to the redevelopment plan or additions
of parcels of property to the redevelopment project area to be
adopted by the municipality. As part of its deliberations, the board may
hold additional hearings on the proposal. A
board's recommendation shall be
an advisory, non-binding recommendation. The recommendation shall be adopted
by a majority of those members present and voting. The recommendations shall
be submitted to the municipality
within 30 days after convening of the board.
Failure of the board to
submit
its report on a timely basis shall not be cause to delay the public hearing
or any other step in the process of designating or
amending the
redevelopment project area but shall be deemed to constitute approval by the
joint review board of the matters before it.
The board shall base its recommendation to approve or disapprove the
redevelopment plan and the designation of the redevelopment project area or the
amendment of the redevelopment plan or addition of parcels of property to the
redevelopment project area on the basis of the redevelopment project area and
redevelopment plan satisfying the
plan requirements, the eligibility criteria
defined in Section 11-74.4-3, and the objectives of this Act.
The board shall issue a written report describing why the
redevelopment plan and project area or the amendment thereof meets or
fails to meet one or more of the objectives of this Act and both the plan
requirements and the eligibility criteria defined in Section 11-74.4-3.
In the event the Board does not file a report it shall be presumed
that these taxing bodies find the redevelopment project area and
redevelopment plan satisfy the
objectives of this Act and the plan requirements and eligibility criteria.
If the board recommends rejection of the matters before it, the
municipality will have 30 days within which to resubmit the plan or amendment.
During this period, the municipality will meet and confer with the board and
attempt to resolve those issues set forth in the board's written report that
led to the rejection of the plan or amendment.
Notwithstanding the resubmission set forth above, the municipality may
commence the scheduled public hearing and either adjourn the public hearing or
continue the public hearing until a date certain. Prior to continuing any
public hearing to a date certain, the municipality shall announce during the
public hearing the time, date, and location for the reconvening of the public
hearing. Any changes to the redevelopment plan necessary to satisfy the issues
set forth in the joint review board report shall be the subject of a public
hearing before the hearing is adjourned if the changes would (1) substantially
affect the general land uses proposed in the redevelopment plan, (2)
substantially change the nature of or extend the life of the redevelopment
project, or (3) increase the number of inhabited residential units to be
displaced from the redevelopment project area, as
measured from the
time of creation of the redevelopment project area, to a total of
more than 10. Changes to the redevelopment plan necessary
to
satisfy the issues set forth in the joint review board report shall not require
any further notice or convening of a joint review board meeting, except that
any changes to the redevelopment plan that would add additional parcels of
property to the proposed redevelopment project area shall be subject to the
notice, public hearing, and joint review board meeting requirements established
for such changes by subsection (a) of Section 11-74.4-5.
In the event that the
municipality and the board are unable to resolve these differences, or in the
event that the resubmitted plan or amendment is rejected by the board, the
municipality may proceed with the plan or amendment, but only upon a
three-fifths vote of the corporate authority responsible for approval of the
plan or amendment, excluding positions of members that are vacant and those
members that are ineligible to vote because of conflicts of interest.
(c) After a municipality has by ordinance approved a redevelopment plan
and designated a redevelopment project area, the plan may be amended and
additional properties may be added to the redevelopment project area only as
herein provided. Amendments which (1) add additional parcels of property to
the proposed redevelopment project area, (2) substantially affect the general
land uses proposed in the redevelopment plan, (3) substantially change the
nature of the redevelopment project, (4) increase the total estimated
redevelopment
project costs set out in the redevelopment plan by more than 5% after
adjustment for inflation from the date the plan was adopted, (5) add
additional redevelopment project costs to the itemized list of redevelopment
project costs set out in the redevelopment plan, or (6) increase the number of
inhabited residential units to be
displaced from the redevelopment
project area, as measured from the time of creation of
the
redevelopment project area, to a total of more than
10, shall be made only after
the
municipality gives notice, convenes a joint review board, and conducts a public
hearing pursuant to the procedures set forth in this Section and in Section
11-74.4-6 of this Act. Changes which do not (1) add additional parcels of
property to the proposed redevelopment project area, (2) substantially affect
the general land uses proposed in the redevelopment plan, (3) substantially
change the nature of the redevelopment project, (4) increase the total
estimated redevelopment project cost set out in the redevelopment plan by more
than 5% after adjustment for inflation from the date the plan was adopted,
(5) add additional redevelopment project costs to the itemized list of
redevelopment project costs set out in the redevelopment plan, or (6) increase
the number of inhabited residential units to be displaced from the
redevelopment project area, as measured from the time of
creation of
the redevelopment project area, to a total of more than 10, may be made
without further public hearing
and related notices and procedures including the convening of a joint review
board as set forth in Section 11-74.4-6 of this Act, provided that the
municipality shall give notice of
any such changes by mail to each affected taxing district and registrant on the
interested parties registry, provided for under Section 11-74.4-4.2, and by
publication in
a newspaper of general circulation within the affected taxing district. Such
notice by mail and by publication shall each occur not later than 10 days
following the adoption by ordinance of such changes.
(d) After the effective date of this amendatory Act of the 91st General
Assembly, a
municipality shall submit in an electronic format the
following information for each redevelopment project area (i) to the State
Comptroller under Section 8-8-3.5 of the Illinois Municipal Code, subject to any extensions or exemptions provided at the Comptroller's discretion under that Section,
and (ii) to all taxing districts overlapping the
redevelopment project area no later than 180
days after the close of each municipal fiscal year or as soon thereafter as
the audited financial
statements become available and, in any case, shall be submitted before the
annual meeting of the Joint Review Board to each of the taxing districts that
overlap the redevelopment project area:
(1) Any amendments to the redevelopment plan, the
| | redevelopment project area, or the State Sales Tax Boundary.
|
|
(1.5) A list of the redevelopment project areas
| | administered by the municipality and, if applicable, the date each redevelopment project area was designated or terminated by the municipality.
|
|
(2) Audited financial statements of the special tax
| | allocation fund once a cumulative total of $100,000 has been deposited in the fund.
|
|
(3) Certification of the Chief Executive Officer of
| | the municipality that the municipality has complied with all of the requirements of this Act during the preceding fiscal year.
|
|
(4) An opinion of legal counsel that the municipality
| | is in compliance with this Act.
|
|
(5) An analysis of the special tax allocation fund
| |
(A) the balance in the special tax allocation
| | fund at the beginning of the fiscal year;
|
|
(B) all amounts deposited in the special tax
| | allocation fund by source;
|
|
(C) an itemized list of all expenditures from the
| | special tax allocation fund by category of permissible redevelopment project cost; and
|
|
(D) the balance in the special tax allocation
| | fund at the end of the fiscal year including a breakdown of that balance by source and a breakdown of that balance identifying any portion of the balance that is required, pledged, earmarked, or otherwise designated for payment of or securing of obligations and anticipated redevelopment project costs. Any portion of such ending balance that has not been identified or is not identified as being required, pledged, earmarked, or otherwise designated for payment of or securing of obligations or anticipated redevelopment projects costs shall be designated as surplus as set forth in Section 11-74.4-7 hereof.
|
|
(6) A description of all property purchased by the
| | municipality within the redevelopment project area including:
|
|
(A) Street address.
(B) Approximate size or description of property.
(C) Purchase price.
(D) Seller of property.
(7) A statement setting forth all activities
| | undertaken in furtherance of the objectives of the redevelopment plan, including:
|
|
(A) Any project implemented in the preceding
| |
(B) A description of the redevelopment activities
| |
(C) A description of any agreements entered into
| | by the municipality with regard to the disposition or redevelopment of any property within the redevelopment project area or the area within the State Sales Tax Boundary.
|
|
(D) Additional information on the use of all
| | funds received under this Division and steps taken by the municipality to achieve the objectives of the redevelopment plan.
|
|
(E) Information regarding contracts that the
| | municipality's tax increment advisors or consultants have entered into with entities or persons that have received, or are receiving, payments financed by tax increment revenues produced by the same redevelopment project area.
|
|
(F) Any reports submitted to the municipality by
| |
(G) A review of public and, to the extent
| | possible, private investment actually undertaken to date after the effective date of this amendatory Act of the 91st General Assembly and estimated to be undertaken during the following year. This review shall, on a project-by-project basis, set forth the estimated amounts of public and private investment incurred after the effective date of this amendatory Act of the 91st General Assembly and provide the ratio of private investment to public investment to the date of the report and as estimated to the completion of the redevelopment project.
|
|
(8) With regard to any obligations issued by the
| |
(A) copies of any official statements; and
(B) an analysis prepared by financial advisor or
| | underwriter setting forth: (i) nature and term of obligation; and (ii) projected debt service including required reserves and debt coverage.
|
|
(9) For special tax allocation funds that have
| | experienced cumulative deposits of incremental tax revenues of $100,000 or more, a certified audit report reviewing compliance with this Act performed by an independent public accountant certified and licensed by the authority of the State of Illinois. The financial portion of the audit must be conducted in accordance with Standards for Audits of Governmental Organizations, Programs, Activities, and Functions adopted by the Comptroller General of the United States (1981), as amended, or the standards specified by Section 8-8-5 of the Illinois Municipal Auditing Law of the Illinois Municipal Code. The audit report shall contain a letter from the independent certified public accountant indicating compliance or noncompliance with the requirements of subsection (q) of Section 11-74.4-3. For redevelopment plans or projects that would result in the displacement of residents from 10 or more inhabited residential units or that contain 75 or more inhabited residential units, notice of the availability of the information, including how to obtain the report, required in this subsection shall also be sent by mail to all residents or organizations that operate in the municipality that register with the municipality for that information according to registration procedures adopted under Section 11-74.4-4.2. All municipalities are subject to this provision.
|
|
(10) A list of all intergovernmental agreements in
| | effect during the fiscal year to which the municipality is a party and an accounting of any moneys transferred or received by the municipality during that fiscal year pursuant to those intergovernmental agreements.
|
| (d-1) Prior to the effective date of this amendatory Act of the 91st
General Assembly, municipalities with populations of over 1,000,000 shall,
after
adoption of a redevelopment plan or project, make available upon request to any
taxing district in which the redevelopment project area is located the
following information:
(1) Any amendments to the redevelopment plan, the
| | redevelopment project area, or the State Sales Tax Boundary; and
|
|
(2) In connection with any redevelopment project area
| | for which the municipality has outstanding obligations issued to provide for redevelopment project costs pursuant to Section 11-74.4-7, audited financial statements of the special tax allocation fund.
|
|
(e) The joint review board shall meet annually 180 days
after the close of the municipal fiscal year or as soon as the redevelopment
project audit for that fiscal year becomes available to review the
effectiveness and status of the redevelopment project area up to that date.
(f) (Blank).
(g) In the event that a municipality has held a public hearing under this
Section prior to March 14, 1994 (the effective date of Public Act 88-537), the
requirements imposed by Public Act 88-537 relating to the method of fixing the
time and place for public hearing, the materials and information required to be
made available for public inspection, and the information required to be sent
after adoption of an ordinance or resolution fixing a time and place for public
hearing shall not be applicable.
(h) On and after the effective date of this amendatory Act of the 96th General Assembly, the State Comptroller must post on the State Comptroller's official website the information submitted by a municipality pursuant to subsection (d) of this Section. The information must be posted no later than 45 days after the State Comptroller receives the information from the municipality. The State Comptroller must also post a list of the municipalities not in compliance with the reporting requirements set forth in subsection (d) of this Section.
(i) No later than 10 years after the corporate authorities of a municipality adopt an ordinance to establish a redevelopment project area, the municipality must compile a status report concerning the redevelopment project area. The status report must detail without limitation the following: (i) the amount of revenue generated within the redevelopment project area, (ii) any expenditures made by the municipality for the redevelopment project area including without limitation expenditures from the special tax allocation fund, (iii) the status of planned activities, goals, and objectives set forth in the redevelopment plan including details on new or planned construction within the redevelopment project area, (iv) the amount of private and public investment within the redevelopment project area, and (v) any other relevant evaluation or performance data. Within 30 days after the municipality compiles the status report, the municipality must hold at least one public hearing concerning the report. The municipality must provide 20 days' public notice of the hearing.
(j) Beginning in fiscal year 2011 and in each fiscal year thereafter, a municipality must detail in its annual budget (i) the revenues generated from redevelopment project areas by source and (ii) the expenditures made by the municipality for redevelopment project areas.
(Source: P.A. 98-922, eff. 8-15-14.)
|
(65 ILCS 5/11-74.4-6) (from Ch. 24, par. 11-74.4-6)
Sec. 11-74.4-6. (a) Except as provided herein, notice of the public hearing
shall be given by publication and mailing. Notice by publication
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 taxing districts having property in the
proposed redevelopment project area. Notice by mailing shall be given by
depositing such notice in the United States mails by certified mail
addressed to the person or persons in whose name the general taxes for the
last preceding year were paid on each lot, block, tract, or parcel of land
lying within the project redevelopment area. Said notice shall be mailed
not less than 10 days prior to the date set for the public hearing. In the
event taxes for the last preceding year were not paid, the notice shall
also be sent to the persons last listed on the tax rolls within the
preceding 3 years as the owners of such property.
For redevelopment project areas with redevelopment plans or proposed
redevelopment plans that would require removal of 10 or more inhabited
residential
units or that contain 75 or more inhabited residential units, the municipality
shall make a good faith effort to notify by mail all
residents of
the redevelopment project area. At a minimum, the municipality shall mail a
notice
to each residential address located within the redevelopment project area. The
municipality shall endeavor to ensure that all such notices are effectively
communicated and shall include (in addition to notice in English) notice in
the predominant language
other than English when appropriate.
(b) The notices issued pursuant to this Section shall include the following:
(1) The time and place of public hearing.
(2) The boundaries of the proposed redevelopment
| | project area by legal description and by street location where possible.
|
|
(3) A notification that all interested persons will
| | be given an opportunity to be heard at the public hearing.
|
|
(4) A description of the redevelopment plan or
| | redevelopment project for the proposed redevelopment project area if a plan or project is the subject matter of the hearing.
|
|
(5) Such other matters as the municipality may deem
| |
(c) Not less than 45 days prior to the date set for hearing, the
municipality shall give notice by mail as provided in subsection (a) to all
taxing districts of which taxable property is included in the redevelopment
project area, project or plan and to the Department of Commerce and
Economic Opportunity, and in addition to the other requirements under
subsection (b) the notice shall include an invitation to the Department of
Commerce and Economic Opportunity and each taxing district to submit comments
to the municipality concerning the subject matter of the hearing prior to
the date of hearing.
(d) In the event that any municipality has by ordinance adopted tax
increment financing prior to 1987, and has complied with the notice
requirements of this Section, except that the notice has not included the
requirements of subsection (b), paragraphs (2), (3) and (4), and within 90
days of the effective date of this amendatory Act of 1991, that
municipality passes an ordinance which contains findings that: (1) all taxing
districts prior to the time of the hearing required by Section 11-74.4-5
were furnished with copies of a map incorporated into the redevelopment
plan and project substantially showing the legal boundaries of the
redevelopment project area; (2) the redevelopment plan and project, or a
draft thereof, contained a map substantially showing the legal boundaries
of the redevelopment project area and was available to the public at the
time of the hearing; and (3) since the adoption of any form of tax
increment financing authorized by this Act, and prior to June 1, 1991, no
objection or challenge has been made in writing to the municipality in
respect to the notices required by this Section, then the municipality
shall be deemed to have met the notice requirements of this Act and all
actions of the municipality taken in connection with such notices as were
given are hereby validated and hereby declared to be legally sufficient for
all purposes of this Act.
(e) If a municipality desires to propose a redevelopment
plan
for a redevelopment project area that
would result in the displacement of residents from
10 or more inhabited residential units or for a redevelopment project area that
contains 75 or more inhabited residential units, the
municipality
shall hold a public meeting before the mailing of the notices of public hearing
as
provided in subsection (c) of this Section. The meeting shall be for the
purpose of
enabling the municipality to advise the public, taxing districts having real
property in
the redevelopment project area, taxpayers who own property in the proposed
redevelopment project area, and residents in the area as to the
municipality's possible intent to prepare a redevelopment plan and
designate a
redevelopment project area and to receive public comment.
The time and place for the meeting shall be set by the head of the
municipality's
Department of Planning or other department official designated by the mayor or
city
or village manager without the necessity of a resolution or ordinance of the
municipality and may be held by a member of the staff of the Department of
Planning of the municipality or by any other person, body, or commission
designated by the corporate authorities. The meeting shall be held at
least 14 business
days before the mailing of the notice of public hearing provided for in
subsection (c)
of this Section.
Notice of the public meeting shall be given by mail. Notice by mail shall be
not less than 15 days before the date of the meeting and shall be sent by
certified
mail to all taxing districts having real property in the proposed redevelopment
project area and to all entities requesting that information that have
registered with a person and department designated by the municipality in
accordance with registration guidelines established by the
municipality pursuant to Section 11-74.4-4.2. The
municipality shall make a good faith effort to notify all residents and the
last known persons who paid
property taxes on real estate in a redevelopment project area. This
requirement
shall be deemed to be satisfied if the municipality mails, by regular mail, a
notice to
each residential address and the person or persons in whose name property taxes
were paid on real property for the last preceding year located within the
redevelopment project area. Notice shall be in languages other than English
when
appropriate. The notices issued under this subsection shall include the
following:
(1) The time and place of the meeting.
(2) The boundaries of the area to be studied for
| | possible designation as a redevelopment project area by street and location.
|
|
(3) The purpose or purposes of establishing a
| | redevelopment project area.
|
|
(4) A brief description of tax increment financing.
(5) The name, telephone number, and address of the
| | person who can be contacted for additional information about the proposed redevelopment project area and who should receive all comments and suggestions regarding the development of the area to be studied.
|
|
(6) Notification that all interested persons will be
| | given an opportunity to be heard at the public meeting.
|
|
(7) Such other matters as the municipality deems
| |
At the public meeting, any interested person or representative of an affected
taxing district
may be heard orally and may file, with the person conducting the
meeting, statements that pertain to the subject matter of the meeting.
(Source: P.A. 94-793, eff. 5-19-06; 95-331, eff. 8-21-07.)
|
(65 ILCS 5/11-74.4-7) (from Ch. 24, par. 11-74.4-7)
Sec. 11-74.4-7. Obligations secured by the special tax allocation fund
set forth in Section 11-74.4-8 for the redevelopment project area may be
issued to provide for redevelopment project costs. Such obligations, when
so issued, shall be retired in the manner provided in the ordinance
authorizing the issuance of such obligations by the receipts of taxes
levied as specified in Section 11-74.4-9 against the taxable property
included in the area, by revenues as specified by Section 11-74.4-8a and
other revenue designated by the municipality. A municipality may in the
ordinance pledge all or any part of the funds in and to be deposited in the
special tax allocation fund created pursuant to Section 11-74.4-8 to the
payment of the redevelopment project costs and obligations. Any pledge of
funds in the special tax allocation fund shall provide for distribution to
the taxing districts and to the Illinois Department of Revenue of moneys
not required, pledged, earmarked, or otherwise designated for payment and
securing of the obligations and anticipated redevelopment project costs and
such excess funds shall be calculated annually and deemed to be "surplus"
funds. In the event a municipality only applies or pledges a portion of the
funds in the special tax allocation fund for the payment or securing of
anticipated redevelopment project costs or of obligations, any such funds
remaining in the special tax allocation fund after complying with the
requirements of the application or pledge, shall also be calculated annually
and deemed "surplus" funds. All surplus funds in the special tax allocation
fund shall be distributed annually within 180 days after the close of the
municipality's fiscal year by being paid by the
municipal treasurer to the County Collector, to the Department of Revenue
and to the municipality in direct proportion to the tax incremental revenue
received as a result of an increase in the equalized assessed value of
property in the redevelopment project area, tax incremental revenue
received from the State and tax incremental revenue received from the
municipality, but not to exceed as to each such source the total
incremental revenue received from that source. The County Collector shall
thereafter make distribution to the respective taxing districts in the same
manner and proportion as the most recent distribution by the county
collector to the affected districts of real property taxes from real
property in the redevelopment project area.
Without limiting the foregoing in this Section, the municipality may in
addition to obligations secured by the special tax allocation fund pledge
for a period not greater than the term of the obligations towards payment
of such obligations any part or any combination of the following: (a) net
revenues of all or part of any redevelopment project; (b) taxes levied and
collected on any or all property in the municipality; (c) the full faith
and credit of the municipality; (d) a mortgage on part or all of the
redevelopment project; or (e) any other taxes or anticipated receipts that
the municipality may lawfully pledge.
Such obligations may be issued in one or more series bearing interest at
such rate or rates as the corporate authorities of the municipality shall
determine by ordinance. Such obligations shall bear such date or dates,
mature at such time or times not exceeding 20 years from their respective
dates, be in such denomination, carry such registration privileges, be executed
in such manner, be payable in such medium of payment at such place or places,
contain such covenants, terms and conditions, and be subject to redemption
as such ordinance shall provide. Obligations issued pursuant to this Act
may be sold at public or private sale at such price as shall be determined
by the corporate authorities of the municipalities. No referendum approval
of the electors shall be required as a condition to the issuance of obligations
pursuant to this Division except as provided in this Section.
In the event the municipality authorizes issuance of obligations pursuant
to the authority of this Division secured by the full faith and credit of
the municipality, which obligations are other than obligations which may
be issued under home rule powers provided by Article VII, Section 6 of the
Illinois Constitution, or pledges taxes pursuant to (b) or (c) of the second
paragraph of this section, the ordinance authorizing the issuance of such
obligations or pledging such taxes shall be published within 10 days after
such ordinance has been passed in one or more newspapers, with general
circulation within such municipality. The publication of the ordinance
shall be accompanied by a notice of (1) the specific number of voters
required to sign a petition requesting the question of the issuance of such
obligations or pledging taxes to be submitted to the electors; (2) the time
in which such petition must be filed; and (3) the date of the prospective
referendum. The municipal clerk shall provide a petition form to any
individual requesting one.
If no petition is filed with the municipal clerk, as hereinafter provided
in this Section, within 30 days after the publication of the ordinance,
the ordinance shall be in effect. But, if within that 30 day period a petition
is filed with the municipal clerk, signed by electors in the
municipality numbering 10% or more of the number of registered voters in the
municipality, asking that the question of issuing
obligations using full faith and credit of the municipality as security
for the cost of paying for redevelopment project costs, or of pledging taxes
for the payment of such obligations, or both, be submitted to the electors
of the municipality, the corporate authorities of the municipality shall
call a special election in the manner provided by law to vote upon that
question, or, if a general, State or municipal election is to be held within
a period of not less than 30 or more than 90 days from the date such petition
is filed, shall submit the question at the next general, State or municipal
election. If it appears upon the canvass of the election by the corporate
authorities that a majority of electors voting upon the question voted in
favor thereof, the ordinance shall be in effect, but if a majority of the
electors voting upon the question are not in favor thereof, the ordinance
shall not take effect.
The ordinance authorizing the obligations may provide that the obligations
shall contain a recital that they are issued pursuant to this Division,
which recital shall be conclusive evidence of their validity and of the
regularity of their issuance.
In the event the municipality authorizes issuance of obligations pursuant
to this Section secured by the full faith and credit of the municipality,
the ordinance authorizing the obligations may provide for the levy and
collection of a direct annual tax upon all taxable property within the
municipality sufficient to pay the principal thereof and interest thereon
as it matures, which levy may be in addition to and exclusive of the
maximum of all other taxes authorized to be levied by the municipality,
which levy, however, shall be abated to the extent that monies from other
sources are available for payment of the obligations and the municipality
certifies the amount of said monies available to the county clerk.
A certified copy of such ordinance shall be filed with the county clerk
of each county in which any portion of the municipality is situated, and
shall constitute the authority for the extension and collection of the taxes
to be deposited in the special tax allocation fund.
A municipality may also issue its obligations to refund in whole or in
part, obligations theretofore issued by such municipality under the authority
of this Act, whether at or prior to maturity, provided however, that the
last maturity of the refunding obligations may not be later than the dates set forth under Section 11-74.4-3.5.
In the event a municipality issues obligations under home rule powers or
other legislative authority the proceeds of which are pledged to pay
for redevelopment project costs, the municipality may, if it has followed
the procedures in conformance with this division, retire said obligations
from funds in the special tax allocation fund in amounts and in such manner
as if such obligations had been issued pursuant to the provisions of this
division.
All obligations heretofore or hereafter issued pursuant to this Act shall
not be regarded as indebtedness of the municipality issuing such obligations
or any other taxing district for the purpose of any limitation imposed by law.
(Source: P.A. 95-15, eff. 7-16-07; 95-164, eff. 1-1-08; 95-331, eff. 8-21-07; 95-346, eff. 8-21-07; 95-459, eff. 8-27-07; 95-653, eff. 1-1-08; 95-662, eff. 10-11-07; 95-683, eff. 10-19-07; 95-709, eff. 1-29-08; 95-876, eff. 8-21-08; 95-932, eff. 8-26-08; 95-964, eff. 9-23-08; 95-977, eff. 9-22-08; 95-1028, eff. 8-25-09 (see Section 5 of P.A. 96-717 for the effective date of changes made by P.A. 95-1028); 96-328, eff. 8-11-09; 96-1000, eff. 7-2-10.)
|
(65 ILCS 5/11-74.4-7.1)
Sec. 11-74.4-7.1.
After the effective date of this amendatory Act of 1994
and prior to the effective date of this amendatory Act of the 91st General
Assembly,
a municipality with a population of less than 1,000,000, prior to construction
of a new municipal public building that
provides governmental services to be financed with tax increment revenues as
authorized in paragraph (4) of subsection (q) of Section 11-74.4-3, shall agree
with the affected taxing districts to pay them, to the extent tax increment
finance revenues are
available, over the life of the
redevelopment project area, an amount equal to 25% of the cost of the building,
such payments to be paid to the taxing districts in the same proportion as the
most recent distribution by the county collector to the affected taxing
districts of real property taxes from taxable real property in the
redevelopment project area.
This Section does not
apply to a municipality that, before March 14, 1994 (the effective date of
Public Act 88-537), acquired or leased the land (i) upon which a new
municipal public building is to be constructed and (ii) for which an existing
redevelopment plan or a redevelopment agreement includes provisions for the
construction
of a new municipal public
building.
(Source: P.A. 91-478, eff. 11-1-99.)
|
(65 ILCS 5/11-74.4-8)
(from Ch. 24, par. 11-74.4-8)
Sec. 11-74.4-8. Tax increment allocation financing. A municipality may
not adopt tax increment financing in a
redevelopment
project area after the effective date of this amendatory Act of 1997 that will
encompass an area that is currently included in an enterprise zone created
under the Illinois Enterprise Zone Act unless that municipality, pursuant to
Section 5.4 of the Illinois Enterprise Zone Act, amends the enterprise zone
designating ordinance to limit the eligibility for tax abatements as provided
in Section 5.4.1 of the Illinois Enterprise Zone Act.
A municipality, at the time a redevelopment project area
is designated, may adopt tax increment allocation financing by passing an
ordinance providing that the ad valorem taxes, if any, arising from the
levies upon taxable real property in such redevelopment project
area by taxing districts and tax rates determined in the manner provided
in paragraph (c) of Section 11-74.4-9 each year after the effective
date of the ordinance until redevelopment project costs and all municipal
obligations financing redevelopment project costs incurred under this Division
have been paid shall be divided as follows:
(a) That portion of taxes levied upon each taxable lot, block, tract or
parcel of real property which is attributable to the lower of the current
equalized assessed value or the initial equalized assessed
value of each such taxable lot, block, tract or parcel of real property
in the redevelopment project area shall be allocated to and when collected
shall be paid by the county collector to the respective affected taxing
districts in the manner required by law in the absence of the adoption of
tax increment allocation financing.
(b) Except from a tax levied by a township to retire bonds issued to satisfy
court-ordered damages, that portion, if any, of such taxes which is
attributable to the
increase in the current equalized assessed valuation of each taxable lot,
block, tract or parcel of real property in the redevelopment project area
over and above the initial equalized assessed value of each property in the
project area shall be allocated to and when collected shall be paid to the
municipal treasurer who shall deposit said taxes into a special fund called
the special tax allocation fund of the municipality for the purpose of
paying redevelopment project costs and obligations incurred in the payment
thereof. In any county with a population of 3,000,000 or more that has adopted
a procedure for collecting taxes that provides for one or more of the
installments of the taxes to be billed and collected on an estimated basis,
the municipal treasurer shall be paid for deposit in the special tax
allocation fund of the municipality, from the taxes collected from
estimated bills issued for property in the redevelopment project area, the
difference between the amount actually collected from each taxable lot,
block, tract, or parcel of real property within the redevelopment project
area and an amount determined by multiplying the rate at which taxes were
last extended against the taxable lot, block, track, or parcel of real
property in the manner provided in subsection (c) of Section 11-74.4-9 by
the initial equalized assessed value of the property divided by the number
of installments in which real estate taxes are billed and collected within
the county; provided that the payments on or before December 31,
1999 to a municipal treasurer shall be made only if each of the following
conditions are met:
(1) The total equalized assessed value of the
| | redevelopment project area as last determined was not less than 175% of the total initial equalized assessed value.
|
|
(2) Not more than 50% of the total equalized assessed
| | value of the redevelopment project area as last determined is attributable to a piece of property assigned a single real estate index number.
|
|
(3) The municipal clerk has certified to the county
| | clerk that the municipality has issued its obligations to which there has been pledged the incremental property taxes of the redevelopment project area or taxes levied and collected on any or all property in the municipality or the full faith and credit of the municipality to pay or secure payment for all or a portion of the redevelopment project costs. The certification shall be filed annually no later than September 1 for the estimated taxes to be distributed in the following year; however, for the year 1992 the certification shall be made at any time on or before March 31, 1992.
|
|
(4) The municipality has not requested that the total
| | initial equalized assessed value of real property be adjusted as provided in subsection (b) of Section 11-74.4-9.
|
|
The conditions of paragraphs (1) through (4) do not apply after December
31, 1999 to payments to a municipal treasurer
made by a county with 3,000,000 or more inhabitants that has adopted an
estimated billing procedure for collecting taxes.
If a county that has adopted the estimated billing
procedure makes an erroneous overpayment of tax revenue to the municipal
treasurer, then the county may seek a refund of that overpayment.
The county shall send the municipal treasurer a notice of liability for the
overpayment on or before the mailing date of the next real estate tax bill
within the county. The refund shall be limited to the amount of the
overpayment.
It is the intent of this Division that after the effective date of this
amendatory Act of 1988 a municipality's own ad valorem
tax arising from levies on taxable real property be included in the
determination of incremental revenue in the manner provided in paragraph
(c) of Section 11-74.4-9. If the municipality does not extend such a tax,
it shall annually deposit in the municipality's Special Tax Increment Fund
an amount equal to 10% of the total contributions to the fund from all
other taxing districts in that year. The annual 10% deposit required by
this paragraph shall be limited to the actual amount of municipally
produced incremental tax revenues available to the municipality from
taxpayers located in the redevelopment project area in that year if:
(a) the plan for the area restricts the use of the property primarily to
industrial purposes, (b) the municipality establishing the redevelopment
project area is a home-rule community with a 1990 population of between
25,000 and 50,000, (c) the municipality is wholly located within a county
with a 1990 population of over 750,000 and (d) the redevelopment project
area was established by the municipality prior to June 1, 1990. This
payment shall be in lieu of a contribution of ad valorem taxes on real
property. If no such payment is made, any redevelopment project area of the
municipality shall be dissolved.
If a municipality has adopted tax increment allocation financing by ordinance
and the County Clerk thereafter certifies the "total initial equalized assessed
value as adjusted" of the taxable real property within such redevelopment
project area in the manner provided in paragraph (b) of Section 11-74.4-9,
each year after the date of the certification of the total initial equalized
assessed value as adjusted until redevelopment project costs and all
municipal obligations financing redevelopment project costs have been paid
the ad valorem taxes, if any, arising from the levies upon the taxable real
property in such redevelopment project area by taxing districts and tax
rates determined in the manner provided in paragraph (c) of Section
11-74.4-9 shall be divided as follows:
(1) That portion of the taxes levied upon each
| | taxable lot, block, tract or parcel of real property which is attributable to the lower of the current equalized assessed value or "current equalized assessed value as adjusted" or the initial equalized assessed value of each such taxable lot, block, tract, or parcel of real property existing at the time tax increment financing was adopted, minus the total current homestead exemptions under Article 15 of the Property Tax Code in the redevelopment project area shall be allocated to and when collected shall be paid by the county collector to the respective affected taxing districts in the manner required by law in the absence of the adoption of tax increment allocation financing.
|
|
(2) That portion, if any, of such taxes which is
| | attributable to the increase in the current equalized assessed valuation of each taxable lot, block, tract, or parcel of real property in the redevelopment project area, over and above the initial equalized assessed value of each property existing at the time tax increment financing was adopted, minus the total current homestead exemptions pertaining to each piece of property provided by Article 15 of the Property Tax Code in the redevelopment project area, shall be allocated to and when collected shall be paid to the municipal Treasurer, who shall deposit said taxes into a special fund called the special tax allocation fund of the municipality for the purpose of paying redevelopment project costs and obligations incurred in the payment thereof.
|
|
The municipality may pledge in the ordinance the funds in and to be
deposited in the special tax allocation fund for the payment of such costs
and obligations. No part of the current equalized assessed valuation of
each property in the redevelopment project area attributable to any
increase above the total initial equalized assessed value, or the total
initial equalized assessed value as adjusted, of such properties shall be
used in calculating the general State school aid formula, provided for in
Section 18-8 of the School Code, until such time as all redevelopment
project costs have been paid as provided for in this Section.
Whenever a municipality issues bonds for the purpose of financing
redevelopment project costs, such municipality may provide by ordinance for the
appointment of a trustee, which may be any trust company within the State,
and for the establishment of such funds or accounts to be maintained by
such trustee as the municipality shall deem necessary to provide for the
security and payment of the bonds. If such municipality provides for
the appointment of a trustee, such trustee shall be considered the assignee
of any payments assigned by the municipality pursuant to such ordinance
and this Section. Any amounts paid to such trustee as assignee shall be
deposited in the funds or accounts established pursuant to such trust
agreement, and shall be held by such trustee in trust for the benefit of the
holders of the bonds, and such holders shall have a lien on and a security
interest in such funds or accounts so long as the bonds remain outstanding and
unpaid. Upon retirement of the bonds, the trustee shall pay over any excess
amounts held to the municipality for deposit in the special tax allocation
fund.
When such redevelopment projects costs, including without limitation all
municipal obligations financing redevelopment project costs incurred under
this Division, have been paid, all surplus funds then remaining in the
special tax allocation fund shall be distributed
by being paid by the
municipal treasurer to the Department of Revenue, the municipality and the
county collector; first to the Department of Revenue and the municipality
in direct proportion to the tax incremental revenue received from the State
and the municipality, but not to exceed the total incremental revenue received
from the State or the municipality less any annual surplus distribution
of incremental revenue previously made; with any remaining funds to be paid
to the County Collector who shall immediately thereafter pay said funds to
the taxing districts in the redevelopment project area in the same manner
and proportion as the most recent distribution by the county collector to
the affected districts of real property taxes from real property in the
redevelopment project area.
Upon the payment of all redevelopment project costs, the retirement of
obligations, the distribution of any excess monies pursuant to this
Section, and final closing of the books and records of the redevelopment
project
area, the municipality shall adopt an ordinance dissolving the special
tax allocation fund for the redevelopment project area and terminating the
designation of the redevelopment project area as a redevelopment project
area.
Title to real or personal property and public improvements
acquired
by or for
the
municipality as a result of the redevelopment project and plan shall vest in
the
municipality when acquired and shall continue to be held by the municipality
after the redevelopment project area has been terminated.
Municipalities shall notify affected taxing districts prior to
November 1 if the redevelopment project area is to be terminated by December 31
of
that same year. If a municipality extends estimated dates of completion of a
redevelopment project and retirement of obligations to finance a
redevelopment project, as allowed by this amendatory Act of 1993, that
extension shall not extend the property tax increment allocation financing
authorized by this Section. Thereafter the rates of the taxing districts
shall be extended and taxes levied, collected and distributed in the manner
applicable in the absence of the adoption of tax increment allocation
financing.
Nothing in this Section shall be construed as relieving property in such
redevelopment project areas from being assessed as provided in the Property
Tax Code or as relieving owners of such property from paying a uniform rate of
taxes, as required by Section 4 of Article IX of the Illinois Constitution.
(Source: P.A. 98-463, eff. 8-16-13.)
|
(65 ILCS 5/11-74.4-8a) (from Ch. 24, par. 11-74.4-8a)
Sec. 11-74.4-8a. (1) Until June 1, 1988, a municipality which has
adopted tax increment allocation financing prior to January 1, 1987, may by
ordinance (1) authorize the Department of Revenue, subject to
appropriation, to annually certify and cause to be paid from the Illinois
Tax Increment Fund to such municipality for deposit in the municipality's
special tax allocation fund an amount equal to the Net State Sales Tax
Increment and (2) authorize the Department of Revenue to annually notify
the municipality of the amount of the Municipal Sales Tax Increment which
shall be deposited by the municipality in the municipality's special tax
allocation fund. Provided that for purposes of this Section no amendments
adding additional area to the redevelopment project area which has been
certified as the State Sales Tax Boundary shall be taken into account if
such amendments are adopted by the municipality after January 1, 1987. If
an amendment is adopted which decreases the area of a State Sales Tax
Boundary, the municipality shall update the list required by subsection
(3)(a) of this Section. The Retailers' Occupation Tax liability, Use Tax
liability, Service Occupation Tax liability and Service Use Tax liability
for retailers and servicemen located within the disconnected area shall be
excluded from the base from which tax increments are calculated and the
revenue from any such retailer or serviceman shall not be included in
calculating incremental revenue payable to the municipality. A municipality
adopting an ordinance under this subsection (1) of this Section for a
redevelopment project area which is certified as a State Sales Tax Boundary
shall not be entitled to payments of State taxes authorized under
subsection (2) of this Section for the same redevelopment project area.
Nothing herein shall be construed to prevent a municipality from receiving
payment of State taxes authorized under subsection (2) of this Section for
a separate redevelopment project area that does not overlap in any way with
the State Sales Tax Boundary receiving payments of State taxes pursuant to
subsection (1) of this Section.
A certified copy of such ordinance shall be submitted by the municipality
to the Department of Commerce and Economic Opportunity and the Department of
Revenue not later than 30 days after the effective date of the ordinance.
Upon submission of the ordinances, and the information required pursuant to
subsection 3 of this Section, the Department of Revenue shall promptly
determine the amount of such taxes paid under the Retailers' Occupation Tax
Act, Use Tax Act, Service Use Tax Act, the Service Occupation Tax Act, the
Municipal Retailers' Occupation Tax Act and the Municipal Service
Occupation Tax Act by retailers and servicemen on transactions at places
located in the redevelopment project area during the base year, and shall
certify all the foregoing "initial sales tax amounts" to the municipality
within 60 days of submission of the list required of subsection (3)(a) of
this Section.
If a retailer or serviceman with a place of business located within a
redevelopment project area also has one or more other places of business
within the municipality but outside the redevelopment project area, the
retailer or serviceman shall, upon request of the Department of Revenue,
certify to the Department of Revenue the amount of taxes paid pursuant to
the Retailers' Occupation Tax Act, the Municipal Retailers' Occupation Tax
Act, the Service Occupation Tax Act and the Municipal Service Occupation
Tax Act at each place of business which is located within the redevelopment
project area in the manner and for the periods of time requested by the
Department of Revenue.
When the municipality determines that a portion of an increase in
the aggregate amount of taxes paid by retailers and servicemen under the
Retailers' Occupation Tax Act, Use Tax Act, Service Use Tax Act, or the
Service Occupation Tax Act is the result of a retailer or serviceman
initiating retail or service operations in the redevelopment project area
by such retailer or serviceman with a resulting termination of retail or
service operations by such retailer or serviceman at another
location in Illinois in the standard metropolitan statistical area of such
municipality, the Department of Revenue shall be notified that the
retailers occupation tax liability, use tax liability, service occupation tax
liability, or service use tax liability from such retailer's or serviceman's
terminated operation shall be included in the base Initial Sales Tax
Amounts from which the State Sales Tax Increment is calculated for purposes
of State payments to the affected municipality; provided, however, for
purposes of this paragraph "termination" shall mean a closing of a retail
or service operation which is directly related to the opening of the same
retail or service operation in a redevelopment project area which is
included within a State Sales Tax Boundary, but it shall not include retail
or service operations closed for reasons beyond the control of the retailer
or serviceman, as determined by the Department.
If the municipality makes the determination referred to in the prior
paragraph and notifies the Department and if the relocation is from a
location within the municipality, the Department, at the request of the
municipality, shall adjust the certified aggregate amount of taxes that
constitute the Municipal Sales Tax Increment paid by retailers and servicemen
on transactions at places of business located within the State Sales Tax
Boundary during the base year using the same procedures as are employed to
make the adjustment referred to in the prior paragraph. The adjusted
Municipal Sales Tax Increment calculated by the Department shall be
sufficient to satisfy the requirements of subsection (1) of this Section.
When a municipality which has adopted tax increment allocation financing
in 1986 determines that a portion of the aggregate amount of taxes paid by
retailers and servicemen under the Retailers Occupation Tax Act, Use Tax
Act, Service Use Tax Act, or Service Occupation Tax Act, the Municipal
Retailers' Occupation Tax Act and the Municipal Service Occupation Tax Act,
includes revenue of a retailer or serviceman which terminated retailer or
service operations in 1986, prior to the adoption of tax increment
allocation financing, the Department of Revenue shall be notified by such
municipality that the retailers' occupation tax liability, use tax
liability, service occupation tax liability or service use tax liability,
from such retailer's or serviceman's terminated operations shall be
excluded from the Initial Sales Tax Amounts for such taxes. The revenue
from any such retailer or serviceman which is excluded from the base year
under this paragraph, shall not be included in calculating incremental
revenues if such retailer or serviceman reestablishes such business in the
redevelopment project area.
For State fiscal year 1992, the Department of Revenue shall
budget, and the Illinois General Assembly shall appropriate
from the Illinois Tax Increment Fund in the State treasury, an amount not
to exceed $18,000,000 to pay to each eligible municipality the Net
State Sales Tax Increment to which such municipality is entitled.
Beginning on January 1, 1993, each municipality's proportional share of
the Illinois Tax Increment Fund shall be determined by adding the annual Net
State Sales Tax Increment and the annual Net Utility Tax Increment to determine
the Annual Total Increment. The ratio of the Annual Total Increment of each
municipality to the Annual Total Increment for all municipalities, as most
recently calculated by the Department, shall determine the proportional shares
of the Illinois Tax Increment Fund to be distributed to each municipality.
Beginning in October, 1993, and each January, April, July and October
thereafter, the Department of Revenue shall certify to the Treasurer and
the Comptroller the amounts payable quarter annually during the fiscal year
to each municipality under this Section. The Comptroller shall promptly
then draw warrants, ordering the State Treasurer to pay such amounts from
the Illinois Tax Increment Fund in the State treasury.
The Department of Revenue shall utilize the same periods established
for determining State Sales Tax Increment to determine the Municipal
Sales Tax Increment for the area within a State Sales Tax
Boundary and certify such amounts to such municipal treasurer who shall
transfer such amounts to the special tax allocation fund.
The provisions of this subsection (1) do not apply to additional
municipal retailers' occupation or service occupation taxes imposed by
municipalities using their home rule powers or imposed pursuant to
Sections 8-11-1.3, 8-11-1.4 and 8-11-1.5 of this Act. A municipality shall not
receive from the State any share of the Illinois Tax Increment Fund unless such
municipality deposits all its Municipal Sales Tax Increment and
the local incremental real property tax revenues, as provided herein, into
the appropriate special tax allocation fund.
If, however, a municipality has extended the estimated dates of completion of
the redevelopment project and retirement of obligations to finance
redevelopment project costs by municipal ordinance to December 31, 2013 under
subsection (n) of Section 11-74.4-3, then that municipality shall continue to
receive from the State a share of the Illinois Tax Increment Fund
so long as the municipality deposits, from any funds available, excluding funds
in the special tax allocation fund, an amount equal
to the municipal share of the real property tax increment revenues
into the special tax allocation fund during the extension period.
The amount to be deposited by the municipality in each of the tax years
affected by the extension to December 31, 2013 shall be equal to the municipal
share of the property tax increment deposited into the special tax allocation
fund by the municipality for the most recent year that the property tax
increment was distributed.
A municipality located within
an economic development project area created under the County Economic
Development Project Area Property Tax Allocation Act which has abated any
portion of its property taxes which otherwise would have been deposited in
its special tax allocation fund shall not receive from the State the Net
Sales Tax Increment.
(2) A municipality which has adopted tax increment allocation
financing with regard to an industrial park or industrial park
conservation area, prior to January 1, 1988, may by ordinance authorize the
Department of Revenue to annually certify and pay from the Illinois Tax
Increment Fund to such municipality for deposit in the municipality's
special tax allocation fund an amount equal to the Net State Utility Tax
Increment. Provided that for purposes of this Section no amendments adding
additional area to the redevelopment project area shall be taken into
account if such amendments are adopted by the municipality after January 1,
1988. Municipalities adopting an ordinance under this subsection (2) of
this Section for a redevelopment project area shall not be entitled to
payment of State taxes authorized under subsection (1) of this Section for
the same redevelopment project area which is within a State Sales Tax
Boundary. Nothing herein shall be construed to prevent a municipality from
receiving payment of State taxes authorized under subsection (1) of this
Section for a separate redevelopment project area within a State Sales Tax
Boundary that does not overlap in any way with the redevelopment project
area receiving payments of State taxes pursuant to subsection (2) of this
Section.
A certified copy of such ordinance shall be submitted to the Department
of Commerce and Economic Opportunity and the Department of Revenue not later
than 30 days after the effective date of the ordinance.
When a municipality determines that a portion of an increase in the
aggregate amount of taxes paid by industrial or commercial facilities under
the Public Utilities Act, is the result of an industrial or commercial
facility initiating operations in the redevelopment project area with a
resulting termination of such operations by such industrial or commercial
facility at another location in Illinois, the Department of Revenue shall be
notified by such municipality that such industrial or commercial facility's
liability under the Public Utility Tax Act shall be included in the base
from which tax increments are calculated for purposes of State payments to
the affected municipality.
After receipt of the calculations by the public utility as required by
subsection (4) of this Section, the Department of Revenue shall annually
budget and the Illinois General Assembly shall annually appropriate from
the General Revenue Fund through State Fiscal Year 1989, and thereafter from
the Illinois Tax Increment Fund, an amount sufficient to pay to each eligible
municipality the amount of incremental revenue attributable to State
electric and gas taxes as reflected by the charges imposed on persons in
the project area to which such municipality is entitled by comparing the
preceding calendar year with the base year as determined by this Section.
Beginning on January 1, 1993, each municipality's proportional share of
the Illinois Tax Increment Fund shall be determined by adding the annual Net
State Utility Tax Increment and the annual Net Utility Tax Increment to
determine the Annual Total Increment. The ratio of the Annual Total Increment
of each municipality to the Annual Total Increment for all municipalities, as
most recently calculated by the Department, shall determine the proportional
shares of the Illinois Tax Increment Fund to be distributed to each
municipality.
A municipality shall not receive any share of the Illinois Tax
Increment Fund from the State unless such municipality imposes the maximum
municipal charges authorized pursuant to Section 9-221 of the
Public Utilities Act and deposits all municipal utility tax incremental
revenues as certified by the public utilities, and all local real estate
tax increments into such municipality's special tax allocation fund.
(3) Within 30 days after the adoption of the ordinance required by either
subsection (1) or subsection (2) of this Section, the municipality shall
transmit to the Department of Commerce and Economic Opportunity and the
Department of Revenue the following:
(a) if applicable, a certified copy of the ordinance
| | required by subsection (1) accompanied by a complete list of street names and the range of street numbers of each street located within the redevelopment project area for which payments are to be made under this Section in both the base year and in the year preceding the payment year; and the addresses of persons registered with the Department of Revenue; and, the name under which each such retailer or serviceman conducts business at that address, if different from the corporate name; and the Illinois Business Tax Number of each such person (The municipality shall update this list in the event of a revision of the redevelopment project area, or the opening or closing or name change of any street or part thereof in the redevelopment project area, or if the Department of Revenue informs the municipality of an addition or deletion pursuant to the monthly updates given by the Department.);
|
|
(b) if applicable, a certified copy of the ordinance
| | required by subsection (2) accompanied by a complete list of street names and range of street numbers of each street located within the redevelopment project area, the utility customers in the project area, and the utilities serving the redevelopment project areas;
|
|
(c) certified copies of the ordinances approving the
| | redevelopment plan and designating the redevelopment project area;
|
|
(d) a copy of the redevelopment plan as approved by
| |
(e) an opinion of legal counsel that the municipality
| | had complied with the requirements of this Act; and
|
|
(f) a certification by the chief executive officer of
| | the municipality that with regard to a redevelopment project area: (1) the municipality has committed all of the municipal tax increment created pursuant to this Act for deposit in the special tax allocation fund, (2) the redevelopment projects described in the redevelopment plan would not be completed without the use of State incremental revenues pursuant to this Act, (3) the municipality will pursue the implementation of the redevelopment plan in an expeditious manner, (4) the incremental revenues created pursuant to this Section will be exclusively utilized for the development of the redevelopment project area, and (5) the increased revenue created pursuant to this Section shall be used exclusively to pay redevelopment project costs as defined in this Act.
|
|
(4) The Department of Revenue upon receipt of the information set forth
in paragraph (b) of subsection (3) shall immediately forward such
information to each public utility furnishing natural gas or electricity to
buildings within the redevelopment project area. Upon receipt of such
information, each public utility shall promptly:
(a) provide to the Department of Revenue and the
| | municipality separate lists of the names and addresses of persons within the redevelopment project area receiving natural gas or electricity from such public utility. Such list shall be updated as necessary by the public utility. Each month thereafter the public utility shall furnish the Department of Revenue and the municipality with an itemized listing of charges imposed pursuant to Sections 9-221 and 9-222 of the Public Utilities Act on persons within the redevelopment project area.
|
|
(b) determine the amount of charges imposed pursuant
| | to Sections 9-221 and 9-222 of the Public Utilities Act on persons in the redevelopment project area during the base year, both as a result of municipal taxes on electricity and gas and as a result of State taxes on electricity and gas and certify such amounts both to the municipality and the Department of Revenue; and
|
|
(c) determine the amount of charges imposed pursuant
| | to Sections 9-221 and 9-222 of the Public Utilities Act on persons in the redevelopment project area on a monthly basis during the base year, both as a result of State and municipal taxes on electricity and gas and certify such separate amounts both to the municipality and the Department of Revenue.
|
|
After the determinations are made in paragraphs (b) and (c), the public
utility shall monthly during the existence of the redevelopment project
area notify the Department of Revenue and the municipality of any increase
in charges over the base year determinations made pursuant to paragraphs
(b) and (c).
(5) The payments authorized under this Section shall be deposited by the
municipal treasurer in the special tax allocation fund of the municipality,
which for accounting purposes shall identify the sources of each payment
as: municipal receipts from the State retailers occupation, service
occupation, use and service use taxes; and municipal public utility taxes
charged to customers under the Public Utilities Act and State public
utility taxes charged to customers under the Public Utilities Act.
(6) Before the effective date of this amendatory Act of the 91st General
Assembly, any
municipality receiving payments authorized under this Section
for any redevelopment project area or area within a State Sales Tax
Boundary within the municipality shall submit to the Department of Revenue
and to the taxing districts which are sent the notice required by Section
6 of this Act annually within 180 days after the close of each municipal
fiscal year the following information for the immediately preceding fiscal
year:
(a) Any amendments to the redevelopment plan, the
| | redevelopment project area, or the State Sales Tax Boundary.
|
|
(b) Audited financial statements of the special tax
| |
(c) Certification of the Chief Executive Officer of
| | the municipality that the municipality has complied with all of the requirements of this Act during the preceding fiscal year.
|
|
(d) An opinion of legal counsel that the municipality
| | is in compliance with this Act.
|
|
(e) An analysis of the special tax allocation fund
| |
(1) the balance in the special tax allocation
| | fund at the beginning of the fiscal year;
|
|
(2) all amounts deposited in the special tax
| | allocation fund by source;
|
|
(3) all expenditures from the special tax
| | allocation fund by category of permissible redevelopment project cost; and
|
|
(4) the balance in the special tax allocation
| | fund at the end of the fiscal year including a breakdown of that balance by source. Such ending balance shall be designated as surplus if it is not required for anticipated redevelopment project costs or to pay debt service on bonds issued to finance redevelopment project costs, as set forth in Section 11-74.4-7 hereof.
|
|
(f) A description of all property purchased by the
| | municipality within the redevelopment project area including:
|
|
1. Street address
2. Approximate size or description of property
3. Purchase price
4. Seller of property.
(g) A statement setting forth all activities
| | undertaken in furtherance of the objectives of the redevelopment plan, including:
|
|
1. Any project implemented in the preceding
| |
2. A description of the redevelopment activities
| |
3. A description of any agreements entered into
| | by the municipality with regard to the disposition or redevelopment of any property within the redevelopment project area or the area within the State Sales Tax Boundary.
|
|
(h) With regard to any obligations issued by the
| |
1. copies of bond ordinances or resolutions
2. copies of any official statements
3. an analysis prepared by financial advisor or
| | underwriter setting forth: (a) nature and term of obligation; and (b) projected debt service including required reserves and debt coverage.
|
|
(i) A certified audit report reviewing compliance
| | with this statute performed by an independent public accountant certified and licensed by the authority of the State of Illinois. The financial portion of the audit must be conducted in accordance with Standards for Audits of Governmental Organizations, Programs, Activities, and Functions adopted by the Comptroller General of the United States (1981), as amended. The audit report shall contain a letter from the independent certified public accountant indicating compliance or noncompliance with the requirements of subsection (q) of Section 11-74.4-3. If the audit indicates that expenditures are not in compliance with the law, the Department of Revenue shall withhold State sales and utility tax increment payments to the municipality until compliance has been reached, and an amount equal to the ineligible expenditures has been returned to the Special Tax Allocation Fund.
|
|
(6.1) After July 29, 1988 and before the effective date of this amendatory
Act of the 91st General Assembly,
any funds which have not been designated for
use in a specific development project in the annual report shall be
designated as surplus.
No funds may be held in the Special Tax Allocation Fund for more than 36 months
from the date of receipt unless the money is required for payment of
contractual obligations for specific development project costs. If held for
more than 36 months in violation of the preceding sentence, such funds shall be
designated as surplus. Any funds
designated as surplus must first be used for early redemption of any bond
obligations. Any funds designated as surplus which are not disposed of as
otherwise provided in this paragraph, shall be distributed as
surplus as
provided in Section 11-74.4-7.
(7) Any appropriation made pursuant to this Section for the 1987 State
fiscal year shall not exceed the amount of $7 million and for the 1988
State fiscal year the amount of $10 million. The amount which shall be
distributed to each municipality shall be the incremental revenue to which
each municipality is entitled as calculated by the Department of Revenue,
unless the requests of the municipality exceed the appropriation,
then the amount to which each municipality shall be entitled shall be
prorated among the municipalities in the same proportion as the increment to
which the municipality would be entitled bears to the total increment which all
municipalities would receive in the absence of this limitation, provided that
no municipality may receive an amount in excess of 15% of the appropriation.
For the 1987 Net State Sales Tax Increment payable in Fiscal Year 1989, no
municipality shall receive more than 7.5% of the total appropriation; provided,
however, that any of the appropriation remaining after such distribution shall
be prorated among municipalities on the basis of their pro rata share of the
total increment. Beginning on January 1, 1993, each municipality's proportional
share of the Illinois Tax Increment Fund shall be determined by adding the
annual Net State Sales Tax Increment and the annual Net Utility Tax Increment
to determine the Annual Total Increment. The ratio of the Annual Total
Increment of each municipality to the Annual Total Increment for all
municipalities, as most recently calculated by the Department, shall determine
the proportional shares of the Illinois Tax Increment Fund to be distributed to
each municipality.
(7.1) No distribution of Net State Sales Tax Increment
to a municipality for an area within a State Sales Tax Boundary shall
exceed in any State Fiscal Year an amount equal
to 3 times the sum of the Municipal Sales Tax Increment, the real
property tax increment and deposits of funds from other sources, excluding
state and federal funds, as certified by the city treasurer to the
Department of Revenue for an area within a State Sales Tax Boundary. After
July 29, 1988, for those municipalities which issue bonds between June 1,
1988 and 3 years from July 29, 1988 to finance redevelopment projects
within the area in a State Sales Tax Boundary, the distribution of Net
State Sales Tax Increment during the 16th through 20th years from the date
of issuance of the bonds shall not exceed in any State Fiscal Year an
amount equal to 2 times the sum of the Municipal Sales Tax Increment, the
real property tax increment and deposits of funds from other sources,
excluding State and federal funds.
(8) Any person who knowingly files or causes to be filed false
information for the purpose of increasing the amount of any State tax
incremental revenue commits a Class A misdemeanor.
(9) The following procedures shall be followed to determine whether
municipalities have complied with the Act for the purpose of receiving
distributions after July 1, 1989 pursuant to subsection (1) of this
Section 11-74.4-8a.
(a) The Department of Revenue shall conduct a
| | preliminary review of the redevelopment project areas and redevelopment plans pertaining to those municipalities receiving payments from the State pursuant to subsection (1) of Section 8a of this Act for the purpose of determining compliance with the following standards:
|
|
(1) For any municipality with a population of
| | more than 12,000 as determined by the 1980 U.S. Census: (a) the redevelopment project area, or in the case of a municipality which has more than one redevelopment project area, each such area, must be contiguous and the total of all such areas shall not comprise more than 25% of the area within the municipal boundaries nor more than 20% of the equalized assessed value of the municipality; (b) the aggregate amount of 1985 taxes in the redevelopment project area, or in the case of a municipality which has more than one redevelopment project area, the total of all such areas, shall be not more than 25% of the total base year taxes paid by retailers and servicemen on transactions at places of business located within the municipality under the Retailers' Occupation Tax Act, the Use Tax Act, the Service Use Tax Act, and the Service Occupation Tax Act. Redevelopment project areas created prior to 1986 are not subject to the above standards if their boundaries were not amended in 1986.
|
|
(2) For any municipality with a population of
| | 12,000 or less as determined by the 1980 U.S. Census: (a) the redevelopment project area, or in the case of a municipality which has more than one redevelopment project area, each such area, must be contiguous and the total of all such areas shall not comprise more than 35% of the area within the municipal boundaries nor more than 30% of the equalized assessed value of the municipality; (b) the aggregate amount of 1985 taxes in the redevelopment project area, or in the case of a municipality which has more than one redevelopment project area, the total of all such areas, shall not be more than 35% of the total base year taxes paid by retailers and servicemen on transactions at places of business located within the municipality under the Retailers' Occupation Tax Act, the Use Tax Act, the Service Use Tax Act, and the Service Occupation Tax Act. Redevelopment project areas created prior to 1986 are not subject to the above standards if their boundaries were not amended in 1986.
|
|
(3) Such preliminary review of the redevelopment
| | project areas applying the above standards shall be completed by November 1, 1988, and on or before November 1, 1988, the Department shall notify each municipality by certified mail, return receipt requested that either (1) the Department requires additional time in which to complete its preliminary review; or (2) the Department is issuing either (a) a Certificate of Eligibility or (b) a Notice of Review. If the Department notifies a municipality that it requires additional time to complete its preliminary investigation, it shall complete its preliminary investigation no later than February 1, 1989, and by February 1, 1989 shall issue to each municipality either (a) a Certificate of Eligibility or (b) a Notice of Review. A redevelopment project area for which a Certificate of Eligibility has been issued shall be deemed a "State Sales Tax Boundary."
|
|
(4) The Department of Revenue shall also issue a
| | Notice of Review if the Department has received a request by November 1, 1988 to conduct such a review from taxpayers in the municipality, local taxing districts located in the municipality or the State of Illinois, or if the redevelopment project area has more than 5 retailers and has had growth in State sales tax revenue of more than 15% from calendar year 1985 to 1986.
|
|
(b) For those municipalities receiving a Notice of
| | Review, the Department will conduct a secondary review consisting of: (i) application of the above standards contained in subsection (9)(a)(1)(a) and (b) or (9)(a)(2)(a) and (b), and (ii) the definitions of blighted and conservation area provided for in Section 11-74.4-3. Such secondary review shall be completed by July 1, 1989.
|
|
Upon completion of the secondary review, the
| | Department will issue (a) a Certificate of Eligibility or (b) a Preliminary Notice of Deficiency. Any municipality receiving a Preliminary Notice of Deficiency may amend its redevelopment project area to meet the standards and definitions set forth in this paragraph (b). This amended redevelopment project area shall become the "State Sales Tax Boundary" for purposes of determining the State Sales Tax Increment.
|
|
(c) If the municipality advises the Department of its
| | intent to comply with the requirements of paragraph (b) of this subsection outlined in the Preliminary Notice of Deficiency, within 120 days of receiving such notice from the Department, the municipality shall submit documentation to the Department of the actions it has taken to cure any deficiencies. Thereafter, within 30 days of the receipt of the documentation, the Department shall either issue a Certificate of Eligibility or a Final Notice of Deficiency. If the municipality fails to advise the Department of its intent to comply or fails to submit adequate documentation of such cure of deficiencies the Department shall issue a Final Notice of Deficiency that provides that the municipality is ineligible for payment of the Net State Sales Tax Increment.
|
|
(d) If the Department issues a final determination of
| | ineligibility, the municipality shall have 30 days from the receipt of determination to protest and request a hearing. Such hearing shall be conducted in accordance with Sections 10-25, 10-35, 10-40, and 10-50 of the Illinois Administrative Procedure Act. The decision following the hearing shall be subject to review under the Administrative Review Law.
|
|
(e) Any Certificate of Eligibility issued pursuant to
| | this subsection 9 shall be binding only on the State for the purposes of establishing municipal eligibility to receive revenue pursuant to subsection (1) of this Section 11-74.4-8a.
|
|
(f) It is the intent of this subsection that the
| | periods of time to cure deficiencies shall be in addition to all other periods of time permitted by this Section, regardless of the date by which plans were originally required to be adopted. To cure said deficiencies, however, the municipality shall be required to follow the procedures and requirements pertaining to amendments, as provided in Sections 11-74.4-5 and 11-74.4-6 of this Act.
|
|
(10) If a municipality adopts a State Sales Tax Boundary in accordance
with the provisions of subsection (9) of this Section, such boundaries
shall subsequently be utilized to determine Revised Initial Sales Tax
Amounts and the Net State Sales Tax Increment; provided, however, that such
revised State Sales Tax Boundary shall not have any effect upon the boundary of
the redevelopment project area established for the purposes of determining the
ad valorem taxes on real property pursuant to Sections 11-74.4-7 and 11-74.4-8
of this Act nor upon the municipality's authority to implement
the redevelopment plan for that redevelopment project area. For any
redevelopment project area with a smaller State Sales Tax Boundary within
its area, the municipality may annually elect to deposit the Municipal
Sales Tax Increment for the redevelopment project area in the special tax
allocation fund and shall certify the amount to the Department prior to
receipt of the Net State Sales Tax Increment. Any municipality required by
subsection (9) to establish a State Sales Tax Boundary for one or more of
its redevelopment project areas shall submit all necessary information
required by the Department concerning such boundary and the retailers
therein, by October 1, 1989, after complying with the procedures for
amendment set forth in Sections 11-74.4-5 and 11-74.4-6 of this Act. Net
State Sales Tax Increment produced within the State Sales Tax Boundary
shall be spent only within that area. However expenditures of all municipal
property tax increment and municipal sales tax increment in a redevelopment
project area are not required to be spent within the smaller State Sales
Tax Boundary within such redevelopment project area.
(11) The Department of Revenue shall have the authority to issue rules
and regulations for purposes of this Section.
and regulations for purposes of this Section.
(12) If, under Section 5.4.1 of the Illinois Enterprise Zone Act, a
municipality determines that property that lies within a State Sales Tax
Boundary has an improvement, rehabilitation, or renovation that is entitled to
a property tax abatement, then that property along with any improvements,
rehabilitation, or renovations shall be immediately removed from any State
Sales Tax Boundary. The municipality that made the determination shall notify
the Department of Revenue within 30 days after the determination. Once a
property is removed from the State Sales Tax Boundary because of the existence
of a property tax abatement resulting from an enterprise
zone, then that property shall not be permitted to
be amended into a State Sales Tax Boundary.
(Source: P.A. 94-793, eff. 5-19-06.)
|
(65 ILCS 5/11-74.4-8b)
Sec. 11-74.4-8b.
Cancellation and repayment of tax and other benefits.
Any tax abatement or benefit granted by a taxing district under an agreement
entered into under this
Act to a private individual or entity for the purpose of originating, locating,
maintaining, rehabilitating, or expanding a business facility shall be
cancelled if the individual or entity relocated its entire facility in
violation of the agreement, and the amount of the abatements or tax benefits
granted before the cancellation shall be repaid to the taxing district within
30 days, as provided in Section 18-183 of the Property Tax Code.
In addition, any private individual or entity that receives other benefits under this Act for the purpose of originating, locating,
maintaining, rehabilitating, or expanding a business facility and that abandons or relocates its facility in violation of the agreement shall pay to the municipality an amount equal to the value of the benefit prorated based on (i) the time from the date of the agreement to the date of abandonment or relocation; compared to (ii) the time from the date of the agreement to the date upon which the redevelopment plan must be completed, determined at the time of the agreement.
(Source: P.A. 96-324, eff. 1-1-10.)
|
(65 ILCS 5/11-74.4-8c)
Sec. 11-74.4-8c.
Enterprise zone abatements.
If a redevelopment project
area is or has been established under Section 11-74.4-4 on or before the
effective
date
of this amendatory Act of 1997 and the redevelopment project area contains
property that is located within an enterprise zone established under the
Illinois
Enterprise Zone Act, then the property that is located in both the
redevelopment
project area and the enterprise zone shall not be eligible for the abatement of
taxes under Section 18-170 of the Property Tax Code if the requirements of
Section 5.4.1 of the Illinois Enterprise Zone Act are satisfied.
If an abatement is limited under Section 5.4.1 of the Illinois Enterprise
Zone Act, a municipality
shall notify the county clerk and the board of review or board of appeals of
the change in writing not later than July 1 of the assessment year to be first
affected by the change.
(Source: P.A. 90-258, eff. 7-30-97.)
|
(65 ILCS 5/11-74.4-8d)
Sec. 11-74.4-8d. Website postings; municipalities of 1,000,000 or more.
(a) In any municipality with a population of 1,000,000 or more, the following shall be posted on a website maintained by the municipality:
(1) Any ordinance designating a redevelopment project
| | area or approving a redevelopment plan, redevelopment project, or redevelopment agreement pursuant to this Division 74.4, including all attachments, and any amendments thereto.
|
| (2) Written staff reports presented to a board
| | created in subsection (k) of Section 11-74.4-4.
|
| (3) The information required to be submitted pursuant
| | to subsection (d) of Section 11-74.4-5 and any other overviews prepared by the municipality relating to redevelopment or financing pursuant to this Division 74.4.
|
| (4) Any certificates of completion issued by the
| | municipality or annual employment certifications received by the municipality pursuant to a redevelopment agreement.
|
| (b) Except as provided in subsection (c), all ordinances described in paragraph (1) of subsection (a) of this Section shall be made available on the website within 7 business days after the ordinance is passed and published by the municipality. Except as provided in subsection (c), all documents described in paragraphs (2), (3), and (4) of subsection (a) of this Section shall be made available on the website within 14 business days after the document has been completed in final form.
(c) The requirements of this Section apply with respect to any redevelopment project area designated or amended on or after July 30, 2004. The ordinances and documents that passed or were completed prior to the effective date of this amendatory Act of the 96th General Assembly shall be made available on the website no later than 30 days after that effective date.
(Source: P.A. 96-773, eff. 8-28-09.)
|
(65 ILCS 5/11-74.4-9)
(from Ch. 24, par. 11-74.4-9)
Sec. 11-74.4-9. Equalized assessed value of property.
(a) If a municipality by ordinance provides for tax
increment allocation financing pursuant to Section 11-74.4-8, the county clerk
immediately thereafter shall determine (1) the most recently ascertained
equalized assessed value of each lot, block, tract or parcel of real property
within such redevelopment project area from which shall be deducted the
homestead exemptions under Article 15 of the Property
Tax Code, which value shall be the "initial equalized assessed value" of each
such piece of property, and (2) the total equalized assessed value of all
taxable real property within such redevelopment project area by adding together
the most recently ascertained equalized assessed value of each taxable lot,
block, tract, or parcel of real property within such project area, from which
shall be deducted the homestead exemptions provided by Sections 15-170,
15-175, and 15-176 of the Property Tax Code, and shall certify such amount
as the "total
initial equalized assessed value" of the taxable real property within such
project area.
(b) In reference to any municipality which has adopted tax increment
financing after January 1, 1978, and in respect to which the county clerk
has certified the "total initial equalized assessed value" of the property
in the redevelopment area, the municipality may thereafter request the clerk
in writing to adjust the initial equalized value of all taxable real property
within the redevelopment project area by deducting therefrom the exemptions under Article 15 of the
Property Tax Code applicable
to each lot, block, tract or parcel of real property within such redevelopment
project area. The county clerk shall immediately after the written request to
adjust the total initial equalized value is received determine the total
homestead exemptions in the redevelopment project area provided by Sections
15-170, 15-175, and 15-176 of the Property Tax Code by adding
together the homestead
exemptions provided by said Sections
on each lot, block, tract or parcel of real property within such redevelopment
project area and then shall deduct the total of said exemptions from the total
initial equalized assessed value. The county clerk shall then promptly certify
such amount as the "total initial equalized assessed value as adjusted" of the
taxable real property within such redevelopment project area.
(c) After the county clerk has certified the "total initial
equalized assessed value" of the taxable real property in such area, then
in respect to every taxing district containing a redevelopment project area,
the county clerk or any other official required by law to ascertain the amount
of the equalized assessed value of all taxable property within such district
for the purpose of computing the rate per cent of tax to be extended upon
taxable property within such district, shall in every year that tax increment
allocation financing is in effect ascertain the amount of value of taxable
property in a redevelopment project area by including in such amount the lower
of the current equalized assessed value or the certified "total initial
equalized assessed value" of all taxable real property in such area, except
that after he has certified the "total initial equalized assessed value as
adjusted" he shall in the year of said certification if tax rates have not been
extended and in every year thereafter that tax increment allocation financing
is in effect ascertain the amount of value of taxable property in a
redevelopment project area by including in such amount the lower of the current
equalized assessed value or the certified "total initial equalized assessed
value as adjusted" of all taxable real property in such area. The rate per cent
of tax determined shall be extended to the current equalized assessed value of
all property in the redevelopment project area in the same manner as the rate
per cent of tax is extended to all other taxable property in the taxing
district. The method of extending taxes established under this Section shall
terminate when the municipality adopts an ordinance dissolving the special tax
allocation fund for the redevelopment project area. This Division shall not be
construed as relieving property owners within a redevelopment project area from
paying a uniform rate of taxes upon the current equalized assessed value of
their taxable property as provided in the Property Tax Code.
(Source: P.A. 95-644, eff. 10-12-07.)
|
(65 ILCS 5/11-74.4-10) (from Ch. 24, par. 11-74.4-10)
Sec. 11-74.4-10.
Revenues received by the municipality from any property,
building or facility owned, leased or operated by the municipality or any
agency or authority established by the municipality, or from repayments of
loans,
may be used to pay redevelopment
project costs, or reduce outstanding obligations of the municipality incurred
under this Division for redevelopment project costs. The municipality may
place such revenues in the special tax allocation fund which shall be held
by the municipal treasurer or other person designated by the municipality.
Revenue received by the municipality from the sale or other disposition
of real property acquired by the municipality with the proceeds of obligations
funded by tax increment allocation financing shall be deposited by the
municipality
in the special tax allocation fund.
(Source: P.A. 93-298, eff. 7-23-03.)
|
(65 ILCS 5/11-74.4-11) (from Ch. 24, par. 11-74.4-11)
Sec. 11-74.4-11.
If any Section, subdivision, paragraph, sentence or clause
of this Division is, for any reason, held to be invalid or unconstitutional,
such decision shall not affect any remaining portion, Section or part thereof
which can be given effect without the invalid provision.
(Source: P.A. 79-1525.)
|
(65 ILCS 5/11-74.4-12)
Sec. 11-74.4-12. Metro East Police District. A municipality may use moneys from the special tax allocation fund to hire police officers, if the corporate authorities of the municipality determine by ordinance or resolution that, as a result of the development associated with the tax increment financing, more police officers are needed to protect the public health and safety of the residents, and the municipality is: (i) within the territory of the Metro East Police District created under the Metro East Police District Act, or (ii) contiguous to 2 or more municipalities within the territory of the Metro East Police District and having a population of more than 5,000 inhabitants, according to the 2000 federal census. The moneys used to hire police officers may amount to no more than 10% of the funds available.
(Source: P.A. 97-971, eff. 1-1-13.)
|
|