Illinois General Assembly - Full Text of HB4427
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Full Text of HB4427  101st General Assembly

HB4427 101ST GENERAL ASSEMBLY

  
  

 


 
101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020
HB4427

 

Introduced 2/3/2020, by Rep. Jonathan Carroll - Mark Batinick

 

SYNOPSIS AS INTRODUCED:
 
65 ILCS 5/8-8-3.5
65 ILCS 5/11-74.4-5  from Ch. 24, par. 11-74.4-5
65 ILCS 5/11-74.6-22

    Amends the Illinois Municipal Code. Provides that a municipality reporting Tax Increment Financing information shall additionally report to the Comptroller: (1) the number of jobs, aspirational or otherwise, if any, projected to be created for each redevelopment project area at the time of approval of the redevelopment agreement; (2) the number of jobs, if any, created as a result of the development under the same guidelines and assumptions as was used for the projections used at the time of approval of the redevelopment agreement to date for that reporting period; (3) the amount of increment projected to be created at the time of approval of the redevelopment agreement for each redevelopment project area; (4) the amount of increment created as a result of the development to date for that reporting period using the same assumptions as was used for the projections used at the time of approval of the redevelopment agreement; and (5) the stated rate of return identified by the developer to the municipality for each redevelopment project area, if any. In provisions requiring a municipality to report an analysis prepared by financial advisor or underwriter, provides that the advisor or underwriter shall be chosen by the municipality and that analysis shall additionally include actual debt service.


LRB101 16354 AWJ 65732 b

 

 

A BILL FOR

 

HB4427LRB101 16354 AWJ 65732 b

1    AN ACT concerning local government.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Illinois Municipal Code is amended by
5changing Sections 8-8-3.5, 11-74.4-5, and 11-74.6-22 as
6follows:
 
7    (65 ILCS 5/8-8-3.5)
8    Sec. 8-8-3.5. Tax Increment Financing Report. The reports
9filed under subsection (d) of Section 11-74.4-5 of the Tax
10Increment Allocation Redevelopment Act and the reports filed
11under subsection (d) of Section 11-74.6-22 of the Industrial
12Jobs Recovery Law in the Illinois Municipal Code must be
13separate from any other annual report filed with the
14Comptroller. The Comptroller must, in cooperation with
15reporting municipalities, create a format for the reporting of
16information described in paragraphs (1.5) and (5) and in
17subparagraph (G) of paragraphs paragraph (7) and (8) of
18subsection (d) of Section 11-74.4-5 of the Tax Increment
19Allocation Redevelopment Act and the information described in
20paragraphs (1.5) and (5) and in subparagraph (G) of paragraphs
21paragraph (7) and (8) of subsection (d) of Section 11-74.6-22
22of the Industrial Jobs Recovery Law that facilitates consistent
23reporting among the reporting municipalities. In addition to

 

 

HB4427- 2 -LRB101 16354 AWJ 65732 b

1information required to be reported under this Section,
2reporting municipalities shall also report to the Comptroller
3annually in a manner and format prescribed by the Comptroller:
4(1) the number of jobs, aspirational or otherwise, if any,
5projected to be created for each redevelopment project area at
6the time of approval of the redevelopment agreement; (2) the
7number of jobs, if any, created as a result of the development
8under the same guidelines and assumptions as was used for the
9projections used at the time of approval of the redevelopment
10agreement to date for that reporting period; (3) the amount of
11increment projected to be created at the time of approval of
12the redevelopment agreement for each redevelopment project
13area; (4) the amount of increment created as a result of the
14development to date for that reporting period using the same
15assumptions as was used for the projections used at the time of
16approval of the redevelopment agreement; and (5) the stated
17rate of return identified by the developer to the municipality
18for each redevelopment project area, if any. Stated rates of
19returns required to be reported in item (5) shall be
20independently verified by a third party chosen by the
21municipality. The Comptroller may allow these reports to be
22filed electronically and may display the report, or portions of
23the report, electronically via the Internet. All reports filed
24under this Section must be made available for examination and
25copying by the public at all reasonable times. A Tax Increment
26Financing Report must be filed electronically with the

 

 

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1Comptroller within 180 days after the close of the municipal
2fiscal year or as soon thereafter as the audit for the
3redevelopment project area for that fiscal year becomes
4available. If the Tax Increment Finance administrator provides
5the Comptroller's office with sufficient evidence that the
6report is in the process of being completed by an auditor, the
7Comptroller may grant an extension. If the required report is
8not filed within the time extended by the Comptroller, the
9Comptroller shall notify the corporate authorities of that
10municipality that the audit report is past due. The Comptroller
11may charge a municipality a fee of $5 per day for the first 15
12days past due, $10 per day for 16 through 30 days past due, $15
13per day for 31 through 45 days past due, and $20 per day for the
1446th day and every day thereafter. These amounts may be reduced
15at the Comptroller's discretion. In the event the required
16audit report is not filed within 60 days of such notice, the
17Comptroller shall cause such audit to be made by an auditor or
18auditors. The Comptroller may decline to order an audit and the
19preparation of an audit report if an initial examination of the
20books and records of the municipality indicates that books and
21records of the municipality are inadequate or unavailable to
22support the preparation of the audit report or the supplemental
23report due to the passage of time or the occurrence of a
24natural disaster. All fees collected pursuant to this Section
25shall be deposited into the Comptroller's Administrative Fund.
26In the event the Comptroller causes an audit to be made in

 

 

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1accordance with the requirements of this Section, the
2municipality shall pay to the Comptroller reasonable
3compensation and expenses to reimburse her for the cost of
4preparing or completing such report. Moneys paid to the
5Comptroller pursuant to the preceding sentence shall be
6deposited into the Comptroller's Audit Expense Revolving Fund.
7(Source: P.A. 101-419, eff. 1-1-20.)
 
8    (65 ILCS 5/11-74.4-5)  (from Ch. 24, par. 11-74.4-5)
9    Sec. 11-74.4-5. Public hearing; joint review board.
10    (a) The changes made by this amendatory Act of the 91st
11General Assembly do not apply to a municipality that, (i)
12before the effective date of this amendatory Act of the 91st
13General Assembly, has adopted an ordinance or resolution fixing
14a time and place for a public hearing under this Section or
15(ii) before July 1, 1999, has adopted an ordinance or
16resolution providing for a feasibility study under Section
1711-74.4-4.1, but has not yet adopted an ordinance approving
18redevelopment plans and redevelopment projects or designating
19redevelopment project areas under Section 11-74.4-4, until
20after that municipality adopts an ordinance approving
21redevelopment plans and redevelopment projects or designating
22redevelopment project areas under Section 11-74.4-4;
23thereafter the changes made by this amendatory Act of the 91st
24General Assembly apply to the same extent that they apply to
25redevelopment plans and redevelopment projects that were

 

 

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1approved and redevelopment projects that were designated
2before the effective date of this amendatory Act of the 91st
3General Assembly.
4    Prior to the adoption of an ordinance proposing the
5designation of a redevelopment project area, or approving a
6redevelopment plan or redevelopment project, the municipality
7by its corporate authorities, or as it may determine by any
8commission designated under subsection (k) of Section
911-74.4-4 shall adopt an ordinance or resolution fixing a time
10and place for public hearing. At least 10 days prior to the
11adoption of the ordinance or resolution establishing the time
12and place for the public hearing, the municipality shall make
13available for public inspection a redevelopment plan or a
14separate report that provides in reasonable detail the basis
15for the eligibility of the redevelopment project area. The
16report along with the name of a person to contact for further
17information shall be sent within a reasonable time after the
18adoption of such ordinance or resolution to the affected taxing
19districts by certified mail. On and after the effective date of
20this amendatory Act of the 91st General Assembly, the
21municipality shall print in a newspaper of general circulation
22within the municipality a notice that interested persons may
23register with the municipality in order to receive information
24on the proposed designation of a redevelopment project area or
25the approval of a redevelopment plan. The notice shall state
26the place of registration and the operating hours of that

 

 

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1place. The municipality shall have adopted reasonable rules to
2implement this registration process under Section 11-74.4-4.2.
3The municipality shall provide notice of the availability of
4the redevelopment plan and eligibility report, including how to
5obtain this information, by mail within a reasonable time after
6the adoption of the ordinance or resolution, to all residential
7addresses that, after a good faith effort, the municipality
8determines are located outside the proposed redevelopment
9project area and within 750 feet of the boundaries of the
10proposed redevelopment project area. This requirement is
11subject to the limitation that in a municipality with a
12population of over 100,000, if the total number of residential
13addresses outside the proposed redevelopment project area and
14within 750 feet of the boundaries of the proposed redevelopment
15project area exceeds 750, the municipality shall be required to
16provide the notice to only the 750 residential addresses that,
17after a good faith effort, the municipality determines are
18outside the proposed redevelopment project area and closest to
19the boundaries of the proposed redevelopment project area.
20Notwithstanding the foregoing, notice given after August 7,
212001 (the effective date of Public Act 92-263) and before the
22effective date of this amendatory Act of the 92nd General
23Assembly to residential addresses within 750 feet of the
24boundaries of a proposed redevelopment project area shall be
25deemed to have been sufficiently given in compliance with this
26Act if given only to residents outside the boundaries of the

 

 

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1proposed redevelopment project area. The notice shall also be
2provided by the municipality, regardless of its population, to
3those organizations and residents that have registered with the
4municipality for that information in accordance with the
5registration guidelines established by the municipality under
6Section 11-74.4-4.2.
7    At the public hearing any interested person or affected
8taxing district may file with the municipal clerk written
9objections to and may be heard orally in respect to any issues
10embodied in the notice. The municipality shall hear all
11protests and objections at the hearing and the hearing may be
12adjourned to another date without further notice other than a
13motion to be entered upon the minutes fixing the time and place
14of the subsequent hearing. At the public hearing or at any time
15prior to the adoption by the municipality of an ordinance
16approving a redevelopment plan, the municipality may make
17changes in the redevelopment plan. Changes which (1) add
18additional parcels of property to the proposed redevelopment
19project area, (2) substantially affect the general land uses
20proposed in the redevelopment plan, (3) substantially change
21the nature of or extend the life of the redevelopment project,
22or (4) increase the number of inhabited residential units to be
23displaced from the redevelopment project area, as measured from
24the time of creation of the redevelopment project area, to a
25total of more than 10, shall be made only after the
26municipality gives notice, convenes a joint review board, and

 

 

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1conducts a public hearing pursuant to the procedures set forth
2in this Section and in Section 11-74.4-6 of this Act. Changes
3which do not (1) add additional parcels of property to the
4proposed redevelopment project area, (2) substantially affect
5the general land uses proposed in the redevelopment plan, (3)
6substantially change the nature of or extend the life of the
7redevelopment project, or (4) increase the number of inhabited
8residential units to be displaced from the redevelopment
9project area, as measured from the time of creation of the
10redevelopment project area, to a total of more than 10, may be
11made without further hearing, provided that the municipality
12shall give notice of any such changes by mail to each affected
13taxing district and registrant on the interested parties
14registry, provided for under Section 11-74.4-4.2, and by
15publication in a newspaper of general circulation within the
16affected taxing district. Such notice by mail and by
17publication shall each occur not later than 10 days following
18the adoption by ordinance of such changes. Hearings with regard
19to a redevelopment project area, project or plan may be held
20simultaneously.
21    (b) Prior to holding a public hearing to approve or amend a
22redevelopment plan or to designate or add additional parcels of
23property to a redevelopment project area, the municipality
24shall convene a joint review board. The board shall consist of
25a representative selected by each community college district,
26local elementary school district and high school district or

 

 

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1each local community unit school district, park district,
2library district, township, fire protection district, and
3county that will have the authority to directly levy taxes on
4the property within the proposed redevelopment project area at
5the time that the proposed redevelopment project area is
6approved, a representative selected by the municipality and a
7public member. The public member shall first be selected and
8then the board's chairperson shall be selected by a majority of
9the board members present and voting.
10    For redevelopment project areas with redevelopment plans
11or proposed redevelopment plans that would result in the
12displacement of residents from 10 or more inhabited residential
13units or that include 75 or more inhabited residential units,
14the public member shall be a person who resides in the
15redevelopment project area. If, as determined by the housing
16impact study provided for in paragraph (5) of subsection (n) of
17Section 11-74.4-3, or if no housing impact study is required
18then based on other reasonable data, the majority of
19residential units are occupied by very low, low, or moderate
20income households, as defined in Section 3 of the Illinois
21Affordable Housing Act, the public member shall be a person who
22resides in very low, low, or moderate income housing within the
23redevelopment project area. Municipalities with fewer than
2415,000 residents shall not be required to select a person who
25lives in very low, low, or moderate income housing within the
26redevelopment project area, provided that the redevelopment

 

 

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1plan or project will not result in displacement of residents
2from 10 or more inhabited units, and the municipality so
3certifies in the plan. If no person satisfying these
4requirements is available or if no qualified person will serve
5as the public member, then the joint review board is relieved
6of this paragraph's selection requirements for the public
7member.
8    Within 90 days of the effective date of this amendatory Act
9of the 91st General Assembly, each municipality that designated
10a redevelopment project area for which it was not required to
11convene a joint review board under this Section shall convene a
12joint review board to perform the duties specified under
13paragraph (e) of this Section.
14    All board members shall be appointed and the first board
15meeting shall be held at least 14 days but not more than 28
16days after the mailing of notice by the municipality to the
17taxing districts as required by Section 11-74.4-6(c).
18Notwithstanding the preceding sentence, a municipality that
19adopted either a public hearing resolution or a feasibility
20resolution between July 1, 1999 and July 1, 2000 that called
21for the meeting of the joint review board within 14 days of
22notice of public hearing to affected taxing districts is deemed
23to be in compliance with the notice, meeting, and public
24hearing provisions of the Act. Such notice shall also advise
25the taxing bodies represented on the joint review board of the
26time and place of the first meeting of the board. Additional

 

 

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1meetings of the board shall be held upon the call of any
2member. The municipality seeking designation of the
3redevelopment project area shall provide administrative
4support to the board.
5    The board shall review (i) the public record, planning
6documents and proposed ordinances approving the redevelopment
7plan and project and (ii) proposed amendments to the
8redevelopment plan or additions of parcels of property to the
9redevelopment project area to be adopted by the municipality.
10As part of its deliberations, the board may hold additional
11hearings on the proposal. A board's recommendation shall be an
12advisory, non-binding recommendation. The recommendation shall
13be adopted by a majority of those members present and voting.
14The recommendations shall be submitted to the municipality
15within 30 days after convening of the board. Failure of the
16board to submit its report on a timely basis shall not be cause
17to delay the public hearing or any other step in the process of
18designating or amending the redevelopment project area but
19shall be deemed to constitute approval by the joint review
20board of the matters before it.
21    The board shall base its recommendation to approve or
22disapprove the redevelopment plan and the designation of the
23redevelopment project area or the amendment of the
24redevelopment plan or addition of parcels of property to the
25redevelopment project area on the basis of the redevelopment
26project area and redevelopment plan satisfying the plan

 

 

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1requirements, the eligibility criteria defined in Section
211-74.4-3, and the objectives of this Act.
3    The board shall issue a written report describing why the
4redevelopment plan and project area or the amendment thereof
5meets or fails to meet one or more of the objectives of this
6Act and both the plan requirements and the eligibility criteria
7defined in Section 11-74.4-3. In the event the Board does not
8file a report it shall be presumed that these taxing bodies
9find the redevelopment project area and redevelopment plan
10satisfy the objectives of this Act and the plan requirements
11and eligibility criteria.
12    If the board recommends rejection of the matters before it,
13the municipality will have 30 days within which to resubmit the
14plan or amendment. During this period, the municipality will
15meet and confer with the board and attempt to resolve those
16issues set forth in the board's written report that led to the
17rejection of the plan or amendment.
18    Notwithstanding the resubmission set forth above, the
19municipality may commence the scheduled public hearing and
20either adjourn the public hearing or continue the public
21hearing until a date certain. Prior to continuing any public
22hearing to a date certain, the municipality shall announce
23during the public hearing the time, date, and location for the
24reconvening of the public hearing. Any changes to the
25redevelopment plan necessary to satisfy the issues set forth in
26the joint review board report shall be the subject of a public

 

 

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1hearing before the hearing is adjourned if the changes would
2(1) substantially affect the general land uses proposed in the
3redevelopment plan, (2) substantially change the nature of or
4extend the life of the redevelopment project, or (3) increase
5the number of inhabited residential units to be displaced from
6the redevelopment project area, as measured from the time of
7creation of the redevelopment project area, to a total of more
8than 10. Changes to the redevelopment plan necessary to satisfy
9the issues set forth in the joint review board report shall not
10require any further notice or convening of a joint review board
11meeting, except that any changes to the redevelopment plan that
12would add additional parcels of property to the proposed
13redevelopment project area shall be subject to the notice,
14public hearing, and joint review board meeting requirements
15established for such changes by subsection (a) of Section
1611-74.4-5.
17    In the event that the municipality and the board are unable
18to resolve these differences, or in the event that the
19resubmitted plan or amendment is rejected by the board, the
20municipality may proceed with the plan or amendment, but only
21upon a three-fifths vote of the corporate authority responsible
22for approval of the plan or amendment, excluding positions of
23members that are vacant and those members that are ineligible
24to vote because of conflicts of interest.
25    (c) After a municipality has by ordinance approved a
26redevelopment plan and designated a redevelopment project

 

 

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1area, the plan may be amended and additional properties may be
2added to the redevelopment project area only as herein
3provided. Amendments which (1) add additional parcels of
4property to the proposed redevelopment project area, (2)
5substantially affect the general land uses proposed in the
6redevelopment plan, (3) substantially change the nature of the
7redevelopment project, (4) increase the total estimated
8redevelopment project costs set out in the redevelopment plan
9by more than 5% after adjustment for inflation from the date
10the plan was adopted, (5) add additional redevelopment project
11costs to the itemized list of redevelopment project costs set
12out in the redevelopment plan, or (6) increase the number of
13inhabited residential units to be displaced from the
14redevelopment project area, as measured from the time of
15creation of the redevelopment project area, to a total of more
16than 10, shall be made only after the municipality gives
17notice, convenes a joint review board, and conducts a public
18hearing pursuant to the procedures set forth in this Section
19and in Section 11-74.4-6 of this Act. Changes which do not (1)
20add additional parcels of property to the proposed
21redevelopment project area, (2) substantially affect the
22general land uses proposed in the redevelopment plan, (3)
23substantially change the nature of the redevelopment project,
24(4) increase the total estimated redevelopment project cost set
25out in the redevelopment plan by more than 5% after adjustment
26for inflation from the date the plan was adopted, (5) add

 

 

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1additional redevelopment project costs to the itemized list of
2redevelopment project costs set out in the redevelopment plan,
3or (6) increase the number of inhabited residential units to be
4displaced from the redevelopment project area, as measured from
5the time of creation of the redevelopment project area, to a
6total of more than 10, may be made without further public
7hearing and related notices and procedures including the
8convening of a joint review board as set forth in Section
911-74.4-6 of this Act, provided that the municipality shall
10give notice of any such changes by mail to each affected taxing
11district and registrant on the interested parties registry,
12provided for under Section 11-74.4-4.2, and by publication in a
13newspaper of general circulation within the affected taxing
14district. Such notice by mail and by publication shall each
15occur not later than 10 days following the adoption by
16ordinance of such changes.
17    (d) After the effective date of this amendatory Act of the
1891st General Assembly, a municipality shall submit in an
19electronic format the following information for each
20redevelopment project area (i) to the State Comptroller under
21Section 8-8-3.5 of the Illinois Municipal Code, subject to any
22extensions or exemptions provided at the Comptroller's
23discretion under that Section, and (ii) to all taxing districts
24overlapping the redevelopment project area no later than 180
25days after the close of each municipal fiscal year or as soon
26thereafter as the audited financial statements become

 

 

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1available and, in any case, shall be submitted before the
2annual meeting of the Joint Review Board to each of the taxing
3districts that overlap the redevelopment project area:
4        (1) Any amendments to the redevelopment plan, the
5    redevelopment project area, or the State Sales Tax
6    Boundary.
7        (1.5) A list of the redevelopment project areas
8    administered by the municipality and, if applicable, the
9    date each redevelopment project area was designated or
10    terminated by the municipality.
11        (2) Audited financial statements of the special tax
12    allocation fund once a cumulative total of $100,000 has
13    been deposited in the fund.
14        (3) Certification of the Chief Executive Officer of the
15    municipality that the municipality has complied with all of
16    the requirements of this Act during the preceding fiscal
17    year.
18        (4) An opinion of legal counsel that the municipality
19    is in compliance with this Act.
20        (5) An analysis of the special tax allocation fund
21    which sets forth:
22            (A) the balance in the special tax allocation fund
23        at the beginning of the fiscal year;
24            (B) all amounts deposited in the special tax
25        allocation fund by source;
26            (C) an itemized list of all expenditures from the

 

 

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1        special tax allocation fund by category of permissible
2        redevelopment project cost; and
3            (D) the balance in the special tax allocation fund
4        at the end of the fiscal year including a breakdown of
5        that balance by source and a breakdown of that balance
6        identifying any portion of the balance that is
7        required, pledged, earmarked, or otherwise designated
8        for payment of or securing of obligations and
9        anticipated redevelopment project costs. Any portion
10        of such ending balance that has not been identified or
11        is not identified as being required, pledged,
12        earmarked, or otherwise designated for payment of or
13        securing of obligations or anticipated redevelopment
14        projects costs shall be designated as surplus as set
15        forth in Section 11-74.4-7 hereof.
16        (6) A description of all property purchased by the
17    municipality within the redevelopment project area
18    including:
19            (A) Street address.
20            (B) Approximate size or description of property.
21            (C) Purchase price.
22            (D) Seller of property.
23        (7) A statement setting forth all activities
24    undertaken in furtherance of the objectives of the
25    redevelopment plan, including:
26            (A) Any project implemented in the preceding

 

 

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1        fiscal year.
2            (B) A description of the redevelopment activities
3        undertaken.
4            (C) A description of any agreements entered into by
5        the municipality with regard to the disposition or
6        redevelopment of any property within the redevelopment
7        project area or the area within the State Sales Tax
8        Boundary.
9            (D) Additional information on the use of all funds
10        received under this Division and steps taken by the
11        municipality to achieve the objectives of the
12        redevelopment plan.
13            (E) Information regarding contracts that the
14        municipality's tax increment advisors or consultants
15        have entered into with entities or persons that have
16        received, or are receiving, payments financed by tax
17        increment revenues produced by the same redevelopment
18        project area.
19            (F) Any reports submitted to the municipality by
20        the joint review board.
21            (G) A review of public and, to the extent possible,
22        private investment actually undertaken to date after
23        the effective date of this amendatory Act of the 91st
24        General Assembly and estimated to be undertaken during
25        the following year. This review shall, on a
26        project-by-project basis, set forth the estimated

 

 

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1        amounts of public and private investment incurred
2        after the effective date of this amendatory Act of the
3        91st General Assembly and provide the ratio of private
4        investment to public investment to the date of the
5        report and as estimated to the completion of the
6        redevelopment project.
7        (8) With regard to any obligations issued by the
8    municipality:
9            (A) copies of any official statements; and
10            (B) an analysis prepared by financial advisor or
11        underwriter, chosen by the municipality, setting
12        forth: (i) nature and term of obligation; and (ii)
13        projected debt service including required reserves and
14        debt coverage; and (iii) actual debt service.
15        (9) For special tax allocation funds that have
16    experienced cumulative deposits of incremental tax
17    revenues of $100,000 or more, a certified audit report
18    reviewing compliance with this Act performed by an
19    independent public accountant certified and licensed by
20    the authority of the State of Illinois. The financial
21    portion of the audit must be conducted in accordance with
22    Standards for Audits of Governmental Organizations,
23    Programs, Activities, and Functions adopted by the
24    Comptroller General of the United States (1981), as
25    amended, or the standards specified by Section 8-8-5 of the
26    Illinois Municipal Auditing Law of the Illinois Municipal

 

 

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1    Code. The audit report shall contain a letter from the
2    independent certified public accountant indicating
3    compliance or noncompliance with the requirements of
4    subsection (q) of Section 11-74.4-3. For redevelopment
5    plans or projects that would result in the displacement of
6    residents from 10 or more inhabited residential units or
7    that contain 75 or more inhabited residential units, notice
8    of the availability of the information, including how to
9    obtain the report, required in this subsection shall also
10    be sent by mail to all residents or organizations that
11    operate in the municipality that register with the
12    municipality for that information according to
13    registration procedures adopted under Section 11-74.4-4.2.
14    All municipalities are subject to this provision.
15        (10) A list of all intergovernmental agreements in
16    effect during the fiscal year to which the municipality is
17    a party and an accounting of any moneys transferred or
18    received by the municipality during that fiscal year
19    pursuant to those intergovernmental agreements.
20    (d-1) Prior to the effective date of this amendatory Act of
21the 91st General Assembly, municipalities with populations of
22over 1,000,000 shall, after adoption of a redevelopment plan or
23project, make available upon request to any taxing district in
24which the redevelopment project area is located the following
25information:
26        (1) Any amendments to the redevelopment plan, the

 

 

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1    redevelopment project area, or the State Sales Tax
2    Boundary; and
3        (2) In connection with any redevelopment project area
4    for which the municipality has outstanding obligations
5    issued to provide for redevelopment project costs pursuant
6    to Section 11-74.4-7, audited financial statements of the
7    special tax allocation fund.
8    (e) The joint review board shall meet annually 180 days
9after the close of the municipal fiscal year or as soon as the
10redevelopment project audit for that fiscal year becomes
11available to review the effectiveness and status of the
12redevelopment project area up to that date.
13    (f) (Blank).
14    (g) In the event that a municipality has held a public
15hearing under this Section prior to March 14, 1994 (the
16effective date of Public Act 88-537), the requirements imposed
17by Public Act 88-537 relating to the method of fixing the time
18and place for public hearing, the materials and information
19required to be made available for public inspection, and the
20information required to be sent after adoption of an ordinance
21or resolution fixing a time and place for public hearing shall
22not be applicable.
23    (h) On and after the effective date of this amendatory Act
24of the 96th General Assembly, the State Comptroller must post
25on the State Comptroller's official website the information
26submitted by a municipality pursuant to subsection (d) of this

 

 

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1Section. The information must be posted no later than 45 days
2after the State Comptroller receives the information from the
3municipality. The State Comptroller must also post a list of
4the municipalities not in compliance with the reporting
5requirements set forth in subsection (d) of this Section.
6    (i) No later than 10 years after the corporate authorities
7of a municipality adopt an ordinance to establish a
8redevelopment project area, the municipality must compile a
9status report concerning the redevelopment project area. The
10status report must detail without limitation the following: (i)
11the amount of revenue generated within the redevelopment
12project area, (ii) any expenditures made by the municipality
13for the redevelopment project area including without
14limitation expenditures from the special tax allocation fund,
15(iii) the status of planned activities, goals, and objectives
16set forth in the redevelopment plan including details on new or
17planned construction within the redevelopment project area,
18(iv) the amount of private and public investment within the
19redevelopment project area, and (v) any other relevant
20evaluation or performance data. Within 30 days after the
21municipality compiles the status report, the municipality must
22hold at least one public hearing concerning the report. The
23municipality must provide 20 days' public notice of the
24hearing.
25    (j) Beginning in fiscal year 2011 and in each fiscal year
26thereafter, a municipality must detail in its annual budget (i)

 

 

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1the revenues generated from redevelopment project areas by
2source and (ii) the expenditures made by the municipality for
3redevelopment project areas.
4(Source: P.A. 98-922, eff. 8-15-14.)
 
5    (65 ILCS 5/11-74.6-22)
6    Sec. 11-74.6-22. Adoption of ordinance; requirements;
7changes.
8    (a) Before adoption of an ordinance proposing the
9designation of a redevelopment planning area or a redevelopment
10project area, or both, or approving a redevelopment plan or
11redevelopment project, the municipality or commission
12designated pursuant to subsection (l) of Section 11-74.6-15
13shall fix by ordinance or resolution a time and place for
14public hearing. Prior to the adoption of the ordinance or
15resolution establishing the time and place for the public
16hearing, the municipality shall make available for public
17inspection a redevelopment plan or a report that provides in
18sufficient detail, the basis for the eligibility of the
19redevelopment project area. The report along with the name of a
20person to contact for further information shall be sent to the
21affected taxing district by certified mail within a reasonable
22time following the adoption of the ordinance or resolution
23establishing the time and place for the public hearing.
24    At the public hearing any interested person or affected
25taxing district may file with the municipal clerk written

 

 

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1objections to the ordinance and may be heard orally on any
2issues that are the subject of the hearing. The municipality
3shall hear and determine all alternate proposals or bids for
4any proposed conveyance, lease, mortgage or other disposition
5of land and all protests and objections at the hearing and the
6hearing may be adjourned to another date without further notice
7other than a motion to be entered upon the minutes fixing the
8time and place of the later hearing. At the public hearing or
9at any time prior to the adoption by the municipality of an
10ordinance approving a redevelopment plan, the municipality may
11make changes in the redevelopment plan. Changes which (1) add
12additional parcels of property to the proposed redevelopment
13project area, (2) substantially affect the general land uses
14proposed in the redevelopment plan, or (3) substantially change
15the nature of or extend the life of the redevelopment project
16shall be made only after the municipality gives notice,
17convenes a joint review board, and conducts a public hearing
18pursuant to the procedures set forth in this Section and in
19Section 11-74.6-25. Changes which do not (1) add additional
20parcels of property to the proposed redevelopment project area,
21(2) substantially affect the general land uses proposed in the
22redevelopment plan, or (3) substantially change the nature of
23or extend the life of the redevelopment project may be made
24without further hearing, provided that the municipality shall
25give notice of any such changes by mail to each affected taxing
26district and by publication once in a newspaper of general

 

 

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1circulation within the affected taxing district. Such notice by
2mail and by publication shall each occur not later than 10 days
3following the adoption by ordinance of such changes.
4    (b) Before adoption of an ordinance proposing the
5designation of a redevelopment planning area or a redevelopment
6project area, or both, or amending the boundaries of an
7existing redevelopment project area or redevelopment planning
8area, or both, the municipality shall convene a joint review
9board to consider the proposal. The board shall consist of a
10representative selected by each taxing district that has
11authority to levy real property taxes on the property within
12the proposed redevelopment project area and that has at least
135% of its total equalized assessed value located within the
14proposed redevelopment project area, a representative selected
15by the municipality and a public member. The public member and
16the board's chairperson shall be selected by a majority of
17other board members.
18    All board members shall be appointed and the first board
19meeting held within 14 days following the notice by the
20municipality to all the taxing districts as required by
21subsection (c) of Section 11-74.6-25. The notice shall also
22advise the taxing bodies represented on the joint review board
23of the time and place of the first meeting of the board.
24Additional meetings of the board shall be held upon the call of
25any 2 members. The municipality seeking designation of the
26redevelopment project area may provide administrative support

 

 

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1to the board.
2    The board shall review the public record, planning
3documents and proposed ordinances approving the redevelopment
4plan and project to be adopted by the municipality. As part of
5its deliberations, the board may hold additional hearings on
6the proposal. A board's recommendation, if any, shall be a
7written recommendation adopted by a majority vote of the board
8and submitted to the municipality within 30 days after the
9board convenes. A board's recommendation shall be binding upon
10the municipality. Failure of the board to submit its
11recommendation on a timely basis shall not be cause to delay
12the public hearing or the process of establishing or amending
13the redevelopment project area. The board's recommendation on
14the proposal shall be based upon the area satisfying the
15applicable eligibility criteria defined in Section 11-74.6-10
16and whether there is a basis for the municipal findings set
17forth in the redevelopment plan as required by this Act. If the
18board does not file a recommendation it shall be presumed that
19the board has found that the redevelopment project area
20satisfies the eligibility criteria.
21    (c) After a municipality has by ordinance approved a
22redevelopment plan and designated a redevelopment planning
23area or a redevelopment project area, or both, the plan may be
24amended and additional properties may be added to the
25redevelopment project area only as herein provided. Amendments
26which (1) add additional parcels of property to the proposed

 

 

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1redevelopment project area, (2) substantially affect the
2general land uses proposed in the redevelopment plan, (3)
3substantially change the nature of the redevelopment project,
4(4) increase the total estimated redevelopment project costs
5set out in the redevelopment plan by more than 5% after
6adjustment for inflation from the date the plan was adopted, or
7(5) add additional redevelopment project costs to the itemized
8list of redevelopment project costs set out in the
9redevelopment plan shall be made only after the municipality
10gives notice, convenes a joint review board, and conducts a
11public hearing pursuant to the procedures set forth in this
12Section and in Section 11-74.6-25. Changes which do not (1) add
13additional parcels of property to the proposed redevelopment
14project area, (2) substantially affect the general land uses
15proposed in the redevelopment plan, (3) substantially change
16the nature of the redevelopment project, (4) increase the total
17estimated redevelopment project cost set out in the
18redevelopment plan by more than 5% after adjustment for
19inflation from the date the plan was adopted, or (5) add
20additional redevelopment project costs to the itemized list of
21redevelopment project costs set out in the redevelopment plan
22may be made without further hearing, provided that the
23municipality shall give notice of any such changes by mail to
24each affected taxing district and by publication once in a
25newspaper of general circulation within the affected taxing
26district. Such notice by mail and by publication shall each

 

 

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1occur not later than 10 days following the adoption by
2ordinance of such changes.
3    Notwithstanding Section 11-74.6-50, the redevelopment
4project area established by an ordinance adopted in its final
5form on December 19, 2011 by the City of Loves Park may be
6expanded by the adoption of an ordinance to that effect without
7further hearing or notice to include land that (i) is at least
8in part contiguous to the existing redevelopment project area,
9(ii) does not exceed approximately 16.56 acres, (iii) at the
10time of the establishment of the redevelopment project area
11would have been otherwise eligible for inclusion in the
12redevelopment project area, and (iv) is zoned so as to comply
13with this Act prior to its inclusion in the redevelopment
14project area.
15    (d) After the effective date of this amendatory Act of the
1691st General Assembly, a municipality shall submit the
17following information for each redevelopment project area (i)
18to the State Comptroller under Section 8-8-3.5 of the Illinois
19Municipal Code, subject to any extensions or exemptions
20provided at the Comptroller's discretion under that Section,
21and (ii) to all taxing districts overlapping the redevelopment
22project area no later than 180 days after the close of each
23municipal fiscal year or as soon thereafter as the audited
24financial statements become available and, in any case, shall
25be submitted before the annual meeting of the joint review
26board to each of the taxing districts that overlap the

 

 

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1redevelopment project area:
2        (1) Any amendments to the redevelopment plan, or the
3    redevelopment project area.
4        (1.5) A list of the redevelopment project areas
5    administered by the municipality and, if applicable, the
6    date each redevelopment project area was designated or
7    terminated by the municipality.
8        (2) Audited financial statements of the special tax
9    allocation fund once a cumulative total of $100,000 of tax
10    increment revenues has been deposited in the fund.
11        (3) Certification of the Chief Executive Officer of the
12    municipality that the municipality has complied with all of
13    the requirements of this Act during the preceding fiscal
14    year.
15        (4) An opinion of legal counsel that the municipality
16    is in compliance with this Act.
17        (5) An analysis of the special tax allocation fund
18    which sets forth:
19            (A) the balance in the special tax allocation fund
20        at the beginning of the fiscal year;
21            (B) all amounts deposited in the special tax
22        allocation fund by source;
23            (C) an itemized list of all expenditures from the
24        special tax allocation fund by category of permissible
25        redevelopment project cost; and
26            (D) the balance in the special tax allocation fund

 

 

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1        at the end of the fiscal year including a breakdown of
2        that balance by source and a breakdown of that balance
3        identifying any portion of the balance that is
4        required, pledged, earmarked, or otherwise designated
5        for payment of or securing of obligations and
6        anticipated redevelopment project costs. Any portion
7        of such ending balance that has not been identified or
8        is not identified as being required, pledged,
9        earmarked, or otherwise designated for payment of or
10        securing of obligations or anticipated redevelopment
11        project costs shall be designated as surplus as set
12        forth in Section 11-74.6-30 hereof.
13        (6) A description of all property purchased by the
14    municipality within the redevelopment project area
15    including:
16            (A) Street address.
17            (B) Approximate size or description of property.
18            (C) Purchase price.
19            (D) Seller of property.
20        (7) A statement setting forth all activities
21    undertaken in furtherance of the objectives of the
22    redevelopment plan, including:
23            (A) Any project implemented in the preceding
24        fiscal year.
25            (B) A description of the redevelopment activities
26        undertaken.

 

 

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1            (C) A description of any agreements entered into by
2        the municipality with regard to the disposition or
3        redevelopment of any property within the redevelopment
4        project area.
5            (D) Additional information on the use of all funds
6        received under this Division and steps taken by the
7        municipality to achieve the objectives of the
8        redevelopment plan.
9            (E) Information regarding contracts that the
10        municipality's tax increment advisors or consultants
11        have entered into with entities or persons that have
12        received, or are receiving, payments financed by tax
13        increment revenues produced by the same redevelopment
14        project area.
15            (F) Any reports submitted to the municipality by
16        the joint review board.
17            (G) A review of public and, to the extent possible,
18        private investment actually undertaken to date after
19        the effective date of this amendatory Act of the 91st
20        General Assembly and estimated to be undertaken during
21        the following year. This review shall, on a
22        project-by-project basis, set forth the estimated
23        amounts of public and private investment incurred
24        after the effective date of this amendatory Act of the
25        91st General Assembly and provide the ratio of private
26        investment to public investment to the date of the

 

 

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1        report and as estimated to the completion of the
2        redevelopment project.
3        (8) With regard to any obligations issued by the
4    municipality:
5            (A) copies of any official statements; and
6            (B) an analysis prepared by financial advisor or
7        underwriter, chosen by the municipality, setting
8        forth: (i) nature and term of obligation; and (ii)
9        projected debt service including required reserves and
10        debt coverage; and (iii) actual debt service.
11        (9) For special tax allocation funds that have received
12    cumulative deposits of incremental tax revenues of
13    $100,000 or more, a certified audit report reviewing
14    compliance with this Act performed by an independent public
15    accountant certified and licensed by the authority of the
16    State of Illinois. The financial portion of the audit must
17    be conducted in accordance with Standards for Audits of
18    Governmental Organizations, Programs, Activities, and
19    Functions adopted by the Comptroller General of the United
20    States (1981), as amended, or the standards specified by
21    Section 8-8-5 of the Illinois Municipal Auditing Law of the
22    Illinois Municipal Code. The audit report shall contain a
23    letter from the independent certified public accountant
24    indicating compliance or noncompliance with the
25    requirements of subsection (o) of Section 11-74.6-10.
26    (e) The joint review board shall meet annually 180 days

 

 

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1after the close of the municipal fiscal year or as soon as the
2redevelopment project audit for that fiscal year becomes
3available to review the effectiveness and status of the
4redevelopment project area up to that date.
5(Source: P.A. 98-922, eff. 8-15-14; 99-792, eff. 8-12-16.)