Full Text of HB4661 99th General Assembly
HB4661eng 99TH GENERAL ASSEMBLY |
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| 1 | | AN ACT concerning local government.
| 2 | | Be it enacted by the People of the State of Illinois,
| 3 | | represented in the General Assembly:
| 4 | | Section 1. Short title. This Act may be cited as the Local | 5 | | Government Stabilization Authority Act. | 6 | | Section 5. Purpose. The purpose of this Act is to implement | 7 | | a pilot program and create Local Government Stabilization | 8 | | Authorities that shall use available resources to facilitate | 9 | | the return of vacant, abandoned, and tax-delinquent properties | 10 | | to productive use thereby combating community deterioration, | 11 | | creating economic growth, and stabilizing the housing and job | 12 | | market. | 13 | | An Authority shall acquire, hold, and transfer interest in | 14 | | real property throughout the township, as approved by the Board | 15 | | of Directors for the following purposes, in a way that is | 16 | | consistent with the goals and priorities established by this | 17 | | Act: | 18 | | (a) to promote redevelopment and reuse of vacant, | 19 | | abandoned, and tax-delinquent properties; and
| 20 | | (b) to support targeted efforts to stabilize | 21 | | neighborhoods; | 22 | | (c) to stimulate residential, commercial and | 23 | | industrial development; and |
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| 1 | | (d) to repair and renovate the homes of senior citizens | 2 | | that have deteriorated over time.
| 3 | | Section 7. Applicability. This Act shall apply only to | 4 | | Bloom Township, Bremen Township, Calumet Township, Rich | 5 | | Township, and Thornton Township in Cook County. | 6 | | Section 10. Definitions. The following words and terms | 7 | | shall have the meanings set forth in this Act, except where | 8 | | otherwise specifically indicated:
| 9 | | "Authority" means a Local Government Stabilization | 10 | | Authority. | 11 | | "Board of Directors" means the Board of Directors of a | 12 | | Local Government Stabilization Authority. | 13 | | "Chairperson" means the chairperson of a Local Government | 14 | | Stabilization Authority Board. | 15 | | "Corporate authorities" means the board of trustees of | 16 | | Bloom Township, Bremen Township, Calumet Township, Rich | 17 | | Township, or Thornton Township. | 18 | | "Director" means the Executive Director of a Local | 19 | | Government Stabilization Authority. | 20 | | "Fiscal Year" means the fiscal year of a Local Government | 21 | | Stabilization Authority, which shall begin on December 1st of | 22 | | each year and end on the following November 30th. | 23 | | "Member" means a member of a Board of Directors. | 24 | | "Person" means any individual, corporation, limited |
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| 1 | | liability corporation, organization, government, governmental | 2 | | subdivision or agency, business trust, estate, trust, | 3 | | partnership, association, and any other legal entity. | 4 | | "Real estate broker" has the meaning ascribed to it under | 5 | | the Real Estate License Act of 2000. | 6 | | "Real Property" means all land and the buildings thereon, | 7 | | all things permanently attached to land or to the buildings | 8 | | thereon, and any interest existing in, issuing out of, or | 9 | | dependent upon land or the buildings thereon.
| 10 | | Section 15. Creation; funding; assets. | 11 | | (a) The corporate authorities may, by ordinance, establish | 12 | | a Local Government Stabilization Authority to be an agency of | 13 | | the township. All personnel, facilities, equipment, and | 14 | | supplies within the Authority shall be governed by a Board of | 15 | | Directors as provided herein. The Board of Directors shall be | 16 | | accountable to the corporate authorities. | 17 | | (b) A Local Government Stabilization Authority shall apply | 18 | | for funding in the sum of up to $2,000,000 from the Abandoned | 19 | | Residential Property Municipality Relief Program under Section | 20 | | 7.31 of the Illinois Housing Development Act. The Authority may | 21 | | apply for funding from other State and federal programs, at the | 22 | | discretion of the Authority.
| 23 | | (c) Except as otherwise provided in this Act, the corporate | 24 | | authorities shall hold title to all Real Property controlled by | 25 | | an Authority.
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| 1 | | Section 20. Tax-exempt status. The activities of the | 2 | | Authority pursuant to this Act are governmental functions | 3 | | carried out by an instrumentality or political subdivision of | 4 | | the State as described in Section 115 of Title 26 of the United | 5 | | States Internal Revenue Code, or any corresponding provisions | 6 | | of any future tax code. The activities of the Authority shall | 7 | | be construed as governmental functions carried out by a | 8 | | political subdivision of this State, exempt to the extent | 9 | | provided under Illinois law from taxation by this State, | 10 | | including, but not limited to, ad valorem property tax | 11 | | exemption pursuant to the Property Tax Code. | 12 | | Section 25. Authority Board of Directors; appointment.
The | 13 | | Authority shall be governed by a Board of Directors that shall | 14 | | be appointed by the township supervisor, subject to approval by | 15 | | the corporate authority, within 45 days of the adoption of an | 16 | | ordinance pursuant to subsection (a) of Section 15 of this Act. | 17 | | The Board of Directors shall be residents of the township. The | 18 | | Board of Directors shall consist of 12 members. | 19 | | Candidates for the Board of Directors appointed by the | 20 | | corporate authorities shall be selected from the following | 21 | | categories: | 22 | | (1) One corporate authority board member to serve as an | 23 | | ex-officio member with voting rights. The ex-officio | 24 | | member shall serve as a liaison between the corporate |
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| 1 | | authority and the Board of Directors; | 2 | | (2) One representatives recommended by the township | 3 | | supervisor; | 4 | | (3) One representative from the local economic | 5 | | development community; | 6 | | (4) One representative from the banking community; and | 7 | | (5) One representative from a local or State Realtor | 8 | | Association. | 9 | | Section 30. Term of office. Except as otherwise provided in | 10 | | this Section, the members of the Board of Directors appointed | 11 | | under Section 25 shall be appointed for the duration of the | 12 | | pilot program under this Act. | 13 | | Section 35. Chairperson; members of the Board of Directors.
| 14 | | (a) The Board of Directors shall annually elect a | 15 | | Chairperson from among the members. | 16 | | (1) The Chairperson shall preside at meetings of the | 17 | | Board of Directors and is entitled to vote on all matters | 18 | | before the Board of Directors. | 19 | | (2) A member may be elected to serve successive terms | 20 | | as Chairperson. | 21 | | (b) The Board of Directors may appoint, from its members, a | 22 | | member to serve as the Authority secretary and such additional | 23 | | officers from its members as it may deem appropriate.
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| 1 | | Section 40. Removal.
A member may be removed by the | 2 | | corporate authorities prior to the expiration of the member's | 3 | | term of appointment for good cause. Good cause includes | 4 | | inefficiency, neglect of duty, malfeasance, or any cause which | 5 | | renders the member unfit for the position or unable to perform | 6 | | the duties of the position. The corporate authorities shall | 7 | | provide written notice to that member and the Chairperson of | 8 | | the Board of the removal of that member from the Board of | 9 | | Directors. The notice shall state the specific grounds which | 10 | | constitute cause for removal. The member, in receipt of this | 11 | | notice, may request to appear before the corporate authorities | 12 | | and present reasons in support of his or her retention. | 13 | | Thereafter, the corporate authorities shall vote upon whether | 14 | | there are sufficient grounds to remove that member from office. | 15 | | The township clerk shall notify the member of the final action | 16 | | of the corporate authorities.
| 17 | | Section 45. Vacancies.
Any vacancy on the Board of | 18 | | Directors caused by death, resignation, disqualification, or | 19 | | removal shall be filled by the corporate authorities as soon as | 20 | | practicable, but not to exceed 60 days following the occurrence | 21 | | of the vacancy. The vacancy shall be filled for the remainder | 22 | | of the unexpired term in the same manner as the original | 23 | | appointment. | 24 | | Section 50. Meetings.
The Board of Directors shall conduct |
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| 1 | | its first meeting no later than 60 days after the appointment | 2 | | of the Board of Directors. The place, date, and time of the | 3 | | Authority meetings shall be determined at the discretion of the | 4 | | Board of Directors. All meetings of the Board of Directors | 5 | | shall comply with the Open Meetings Act.
| 6 | | Section 55. Bylaws; policies; procedures.
The Board of | 7 | | Directors shall adopt bylaws, procedures and policies | 8 | | consistent with the provisions of this Act within 120 days | 9 | | after the first meeting of the Board of Directors.
| 10 | | Section 60. Quorum and voting.
A quorum shall be necessary | 11 | | for the transaction of any business by the Board of Directors. | 12 | | A majority of the members of the Board of Directors shall | 13 | | constitute a quorum. The Board of Directors shall act by a | 14 | | majority vote of the members at a meeting at which a quorum is | 15 | | present, except as otherwise provided in this Act. Presence for | 16 | | both quorum and voting at an Authority meeting shall be | 17 | | articulated by the Board of Directors in its bylaws or | 18 | | procedures in a manner consistent with the Open Meetings Act.
| 19 | | Section 65. Records of meetings.
Minutes of all meetings of | 20 | | the Board of Directors and its Committees shall be made and | 21 | | maintained as required by the Open Meetings Act.
| 22 | | Section 70. Board of Directors; responsibilities.
The |
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| 1 | | Board of Directors shall ensure: | 2 | | (a) that all personnel matters are conducted free from any | 3 | | political interference and in accordance with the provisions of | 4 | | the Supplemental Relief Order and Consent Decree established in | 5 | | the federal civil litigation filed in the Northern District of | 6 | | Illinois under Case No. 69 C 2145 and titled Shakman, et al. v. | 7 | | Democratic Organization, et al. and all applicable laws; | 8 | | (b) that all operations, including contractual matters, | 9 | | are conducted free from any political interference; and
| 10 | | (c) efficiency in service delivery and sound fiscal | 11 | | management of all aspects of the Authority including the | 12 | | collection of all revenues from all sources.
| 13 | | Section 75. Board of Directors; actions.
The Board of | 14 | | Directors shall do all of the following that is consistent with | 15 | | Illinois law: | 16 | | (a) adopt, amend, or repeal rules and policies and | 17 | | procedures governing the Board of Directors and its actions and | 18 | | meetings, and adopt, amend, or repeal policies and procedures | 19 | | to implement day-to-day operation of the Authority, including | 20 | | policies governing any staff of the Authority; | 21 | | (b) elect additional officers, including, but not limited | 22 | | to, initial officers who shall be elected at the first meeting | 23 | | of the Board of Directors in accordance with the bylaws; | 24 | | (c) provide for a system of accounting; | 25 | | (d) adopt or amend the Authority's budget to submit |
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| 1 | | annually to the corporate authorities for approval and adoption | 2 | | in a time frame mandated by the corporate authorities; | 3 | | (e) adopt, amend, or repeal policies and procedures for | 4 | | contracting and procurement which must be consistent with the | 5 | | provisions set forth in the local Code; | 6 | | (f) commission, collect, and receive data from public, | 7 | | private, professional, and volunteer sources to compile an | 8 | | inventory an analysis of desirable properties for acquisition; | 9 | | (g) establish banking arrangements for the Authority | 10 | | pursuant to Section 160 of this Act; and | 11 | | (h) organize and reorganize the executive, administrative, | 12 | | clerical, and other departments of the Authority and fix the | 13 | | duties, powers, and compensation of all employees, agents, and | 14 | | consultants of the Authority.
| 15 | | Section 80. Fiduciary duty.
The members of the Board of | 16 | | Directors are under a fiduciary duty to conduct the activities | 17 | | and affairs of the Authority in the best interests of the | 18 | | residents of the township, including the safekeeping and use of | 19 | | all Authority moneys and assets. The members of the Board of | 20 | | Directors shall discharge their duties in good faith, with the | 21 | | care an ordinarily prudent person in a like position would | 22 | | exercise under similar circumstances.
| 23 | | The members of the Board of Directors shall not sell | 24 | | property to the Authority or buy property held by the | 25 | | Authority. |
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| 1 | | Section 85. Compensation.
The members of the Board of | 2 | | Directors shall receive no compensation for the performance of | 3 | | their duties. A member may engage in private or public | 4 | | employment, or in a profession or business, except to the | 5 | | extent prohibited by Illinois law or local ordinance. The | 6 | | Authority may reimburse members of the Board of Directors for | 7 | | actual and necessary expenses incurred in the discharge of | 8 | | their official duties, as provided by the Board of Directors.
| 9 | | Section 90. Executive Director.
The Board of Directors may | 10 | | retain the professional services of an individual to perform | 11 | | the duties of an Executive Director on a contractual basis with | 12 | | the advice and consent of the corporate authorities. The | 13 | | Executive Director shall not be an employee of the Authority or | 14 | | of the township. The Director shall administer the Authority in | 15 | | accordance with the operating budget approved by the corporate | 16 | | authorities, general policy guidelines established by the | 17 | | Board of Directors, other applicable governmental procedures | 18 | | and policies, and this Act. | 19 | | The Director shall be responsible for the day-to-day | 20 | | operations of the Authority, the control, management, and | 21 | | oversight of the Authority's functions, and supervision of all | 22 | | of the Authority's contractual agreements. All terms and | 23 | | conditions of the Director's service shall be specified in a | 24 | | written contract between the Director and the Board of |
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| 1 | | Directors. The Director may be removed by the corporate | 2 | | authorities or the Board of Directors for good cause prior to | 3 | | the expiration of the Director's contract. Good cause includes | 4 | | inefficiency, neglect of duty, malfeasance, or any cause which | 5 | | renders the Director unfit or unable to perform the scope of | 6 | | work. The Board of Directors may delegate to the Director any | 7 | | powers or duties it considers proper under terms, conditions, | 8 | | and to the extent that the Board of Directors may specify.
| 9 | | Section 95. Staffing services. The Board of Directors may | 10 | | approve contracts for staffing as requested by the Executive | 11 | | Director that are deemed necessary to carry out the duties and | 12 | | responsibilities of the Authority and in accordance with the | 13 | | policies and procedures established by the Board. Such staff | 14 | | shall be retained pursuant to contracts entered into in | 15 | | accordance with the procurement rules established by the Board. | 16 | | Section 100. Ethics.
The Board of Directors shall be | 17 | | subject to the all State of Illinois ethics laws.
| 18 | | Section 105. Indemnification.
| 19 | | (a) The township shall defend and indemnify the Authority | 20 | | and the members of the Board of Directors with respect to all | 21 | | claims or judgments arising out of their activities as members | 22 | | with respect to all negligence claims, and claims or judgments | 23 | | arising out of the Authority's activities performed on behalf |
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| 1 | | of the township. | 2 | | (b) The township shall not be obligated to indemnify the | 3 | | Authority or a member for: | 4 | | (1) Punitive damages or liability arising out of | 5 | | conduct that is willful or wanton. | 6 | | (2) Conduct that is outside the scope of the | 7 | | Authority's authority. | 8 | | (3) Any settlement or judgment in which the township | 9 | | did not participate. | 10 | | (4) The defense of any criminal or disciplinary | 11 | | proceeding.
| 12 | | Section 110. General powers.
The Authority has the power to | 13 | | do all things necessary or convenient to implement the | 14 | | purposes, objectives, and provisions of this Act including, but | 15 | | not limited to, the following: | 16 | | (a) adopt, amend, and repeal bylaws for the regulation of | 17 | | its affairs and the conduct of its business; | 18 | | (b) acquire by purchase, donation, or other transfers and | 19 | | to hold, lease, manage, and dispose of Real Property of every | 20 | | kind and character, or any interest therein, in furtherance of | 21 | | the public purposes of the Authority;
| 22 | | (c) pay any tax or special assessment due on Real Property | 23 | | acquired or owned by the Authority; | 24 | | (d) acquire, accept, or retain equitable interests, | 25 | | security interests, or other interests in any Real Property or |
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| 1 | | other fixtures by loan agreement, note, mortgage, deed to | 2 | | secure debt, trust deed, security agreement, assignment, | 3 | | pledge, conveyance, contract, lien, or other consensual | 4 | | transfer in order to secure the repayment of any moneys loaned | 5 | | or credit extended by the Authority; | 6 | | (e) borrow money from private lenders, from municipalities | 7 | | or counties, from the State or from federal government funds, | 8 | | subject to the approval of the corporate authorities, to | 9 | | further or carry out the Authority's public purpose by | 10 | | executing leases, trust indentures, trust agreements, | 11 | | agreements for the sale notes, loan agreements, mortgages, | 12 | | deeds to secure debt, trust deeds, security agreements, | 13 | | assignments, and other agreements or instruments as may be | 14 | | necessary or desirable, in the judgment of the Authority, to | 15 | | evidence and to provide security for such borrowing; | 16 | | (f) apply directly or indirectly to any federal, state, | 17 | | county, or
municipal government or agency, or to any other | 18 | | source, whether public or private, for loans, grants, gifts, | 19 | | guarantees, labor, or other aid or financial assistance in | 20 | | furtherance of the Authority's public purpose and to accept and | 21 | | use the same upon such terms and conditions as are prescribed | 22 | | by such federal, state, county, municipal government or agency, | 23 | | or other source; | 24 | | (g) enter into agreements with the federal government or | 25 | | any agency thereof to use the facilities or services of the | 26 | | federal government or any agency thereof in order to further or |
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| 1 | | carry out the public purposes of the Authority; | 2 | | (h) as security for repayment of any note, or other | 3 | | obligations of the Authority, to pledge, mortgage, convey, | 4 | | assign, hypothecate, or otherwise encumber any property of the | 5 | | Authority, including, but not limited to, Real Property, | 6 | | fixtures, and revenues or other funds, and to execute any | 7 | | lease, trust indenture, trust agreement, agreement for the sale | 8 | | of the Authority's notes, or other obligations, loan agreement, | 9 | | mortgage, deed to secure debt, trust deed, security agreement, | 10 | | assignment, or other agreement or instrument as may be | 11 | | necessary or desirable, in the judgment of the Authority, to | 12 | | secure any such notes, or other obligations, which instruments | 13 | | or agreements may provide for foreclosure or forced sale of any | 14 | | Real Property of the Authority upon default in any obligation | 15 | | of the Authority, either in payment of principal, premium, if | 16 | | any, or interest or in the performance of any term or condition | 17 | | contained in any such agreement or instrument; | 18 | | (i) receive and administer gifts, grants, and bequests of | 19 | | money and Real Property consistent with the purpose of the | 20 | | Authority; | 21 | | (j) use any Real Property or fixtures or any interest | 22 | | therein or to rent, license or lease such Real Property to or | 23 | | from others or make contracts with respect to the use thereof, | 24 | | or to sell, lease, exchange, transfer, assign, pledge, or | 25 | | otherwise dispose of or grant options for any such Real | 26 | | Property in any manner as it deems to be in the best interests |
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| 1 | | of the Authority and the public purpose thereof; | 2 | | (k) procure insurance or guarantees from the State or | 3 | | federal government of the payments of any debts or parts | 4 | | thereof incurred by the Authority, and to pay premiums in | 5 | | connection therewith; | 6 | | (l) procure, if required, insurance against losses in | 7 | | connection with the Real Property, assets, or activities of the | 8 | | Authority; | 9 | | (m) enter into contracts and other instruments necessary, | 10 | | incidental, or convenient to the performance of its duties and | 11 | | the exercise of its powers, including, but not limited to, an | 12 | | agreement with a Party for the joint exercise of powers. An | 13 | | agreement with a Party may include contracts for the | 14 | | performance of services by a Party on behalf of the Authority | 15 | | or by the Authority on behalf of a Party; | 16 | | (n) enter into partnerships, joint ventures, and other | 17 | | collaborative relationships with municipalities and other | 18 | | public and private entities for the ownership, management, | 19 | | development, and disposition of Real Property; | 20 | | (o) to enter into contracts and other instruments | 21 | | necessary, incidental, or convenient to the performance of its | 22 | | duties and the exercise of its powers, including, but not | 23 | | limited to, agreements with a Party regarding the disposition | 24 | | of Authority properties located within their boundaries; | 25 | | (p) finance, by loan, grant, lease, or otherwise, | 26 | | refinance, construct, erect, assemble, purchase, acquire, own, |
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| 1 | | repair, remodel, rehabilitate, modify, maintain, extend, | 2 | | improve, install, sell, equip, expand, add to, operate, or | 3 | | manage Real Property or rights or interests in Real Property, | 4 | | and to pay the costs of any such project from the proceeds of | 5 | | revenue bonds, loans by persons, corporations, partnerships, | 6 | | whether limited or general, or other entities, all of which the | 7 | | Authority is authorized to receive, accept, and use; | 8 | | (q) fix, charge, and collect rents, fees, licenses and | 9 | | charges for the use of Real Property of the Authority and for | 10 | | services provided by the Authority; | 11 | | (r) grant or acquire a license, easement, lease (as lessor | 12 | | or lessee), or option with respect to Real Property of the | 13 | | Authority; | 14 | | (s) enter into contracts with nonprofit community land | 15 | | trusts, including, but not limited to, long-term lease | 16 | | contracts; | 17 | | (t) contract for goods and services and engage personnel as | 18 | | necessary, to be paid from the funds of the Authority. The | 19 | | Board shall determine the qualifications, duties, and | 20 | | compensation of those it contracts with and employs; | 21 | | (u) organize and reorganize the executive, administrative, | 22 | | clerical, and other departments of the Authority and to fix the | 23 | | duties, powers, and compensation of all employees, agents, and | 24 | | consultants of the Authority; | 25 | | (v) remediate environmental contamination on any Real | 26 | | Property held by the Authority;
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| 1 | | (w) acquire, hold, and manage property pursuant to this | 2 | | Act; | 3 | | (x) dispose of property pursuant to this Act; | 4 | | (y) promulgate rules regarding the procurement of | 5 | | contracts and services of local real estate brokers and | 6 | | construction crews pursuant to Section 160 of this Act; | 7 | | (z) submit a redevelopment plan to a municipality with a | 8 | | redevelopment project area and comply with any requirements of | 9 | | the municipality with regard to that plan; and | 10 | | (aa) to do all other things necessary or convenient to | 11 | | achieve the objectives and purposes of the Authority or other | 12 | | laws that relate to the purposes and responsibilities of the | 13 | | Authority. | 14 | | To the extent that any power or duty of the Authority | 15 | | created under this Act conflicts with the powers or duties of a | 16 | | county or township official, the powers or duties of that | 17 | | county or township official shall prevail. | 18 | | Section 115. No waiver of governmental immunity. Nothing in | 19 | | this Act is intended, nor shall be construed, as a waiver by | 20 | | the township enacting an ordinance that creates an Authority | 21 | | under this Act of any governmental immunity provided under any | 22 | | applicable law. | 23 | | Section 120. Non-discrimination.
The Authority shall | 24 | | comply with all applicable laws prohibiting discrimination.
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| 1 | | Section 125. Acquisition of real property.
| 2 | | (a) The Authority shall procure the services of local real | 3 | | estate brokers pursuant to Section 160 of this Act to assist in | 4 | | the acquisition of real property under this Section. | 5 | | (b) The Authority may acquire real property or rights or | 6 | | interests in real property by gift, bequest, transfer, | 7 | | exchange, foreclosure, purchase, purchase contracts, lease | 8 | | purchase agreements, installment sales contracts, land | 9 | | contracts, tax sale, scavenger sale or otherwise, on terms and | 10 | | conditions and in a manner the Authority considers proper. | 11 | | (c) The Authority may acquire any property conveyed to it | 12 | | by this State, a foreclosing governmental unit, a unit of local | 13 | | government, an intergovernmental entity created under the laws | 14 | | of this State, or any other public or private person, | 15 | | including, but not limited to, property without clear title. | 16 | | (d) All deeds, mortgages, contracts, leases, purchases, or | 17 | | other agreements regarding property of the Authority, | 18 | | including agreements to acquire or dispose of real property, | 19 | | shall be approved by and executed by the Authority, in the name | 20 | | of the township. | 21 | | (e) The Authority shall have the right to purchase | 22 | | properties in the name of the township at tax sales conducted | 23 | | in accordance with the Property Tax Code. The Authority may | 24 | | tender a bid at a tax sale that is a credit bid, consisting of | 25 | | the obligation of the Authority to satisfy the component parts |
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| 1 | | of the bid by payments to the respective political | 2 | | subdivisions. | 3 | | (f) The Authority shall have the right to make offers to | 4 | | purchase properties that are subject to a listing agreement; | 5 | | said offer or purchase of a property by the Authority that is | 6 | | subject to a listing agreement shall not extinguish any legal | 7 | | rights existing under the listing agreement.
| 8 | | Section 130. Holding and managing property.
The Authority | 9 | | may control, manage, maintain, operate, repair, lease as | 10 | | lessor, license, secure, prevent the waste or deterioration of, | 11 | | demolish, and take all other actions necessary to preserve the | 12 | | value of the Real Property it controls on behalf of the | 13 | | township. The Authority shall maintain all Real Property held | 14 | | by the Authority in accordance with applicable laws and codes. | 15 | | Real Property shall be inventoried and classified by the | 16 | | Authority according to suitability for use. The inventory shall | 17 | | be maintained as a public record and shall be filed | 18 | | electronically and in the principal office of the Authority.
| 19 | | Section 135. Property disposition.
On terms and | 20 | | conditions, and in a manner and for an amount of consideration | 21 | | that the Authority considers proper, fair, and reasonable, | 22 | | including for no monetary consideration if appropriate, the | 23 | | Authority may convey, sell, transfer, exchange, lease as | 24 | | lessor, or otherwise dispose of Real Property or rights or |
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| 1 | | interests in Real Property that the Authority controls and the | 2 | | township holds a legal interest to any public or private | 3 | | person. The transfer and use of property under this Section and | 4 | | the exercise by the Authority of powers and duties under this | 5 | | Act shall be considered a necessary public purpose and for the | 6 | | benefit of the public.
| 7 | | Section 140. Criteria for conveyance.
Real Property shall | 8 | | be conveyed by the Authority in accordance with this Act and | 9 | | according to criteria determined in the discretion of the Board | 10 | | and contained in the policies and procedures adopted by the | 11 | | Board. The Board may adopt policies and procedures that set | 12 | | forth priorities for a transferee's use of Real Property | 13 | | conveyed by the Authority, including, but not limited to, | 14 | | affordable housing.
| 15 | | Section 145. Transactions.
Transactions shall be | 16 | | structured in a manner that permits the Authority to enforce | 17 | | contractual agreements, real covenants, and the provisions of | 18 | | any subordinate financing held by the Authority pertaining to | 19 | | development and use of the Real Property.
| 20 | | Section 150. Disposition of proceeds.
Any proceeds from the | 21 | | sale or transfer of Real Property by the Authority shall be | 22 | | retained, expended, or transferred by the Authority as | 23 | | determined by the Board in the best interests of the Authority |
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| 1 | | and in accordance with applicable laws and agreements.
| 2 | | Section 155. Intergovernmental agreements.
| 3 | | (a) The Board of Directors may negotiate and propose | 4 | | agreements necessary, incidental, or convenient to the | 5 | | performance of its duties and the exercise of its powers with | 6 | | any unit of local government subject to the approval of the | 7 | | corporate authorities. An agreement may include, but is not be | 8 | | limited to, contracts for the joint exercise of powers, | 9 | | contracts for the ownership, management, development, and | 10 | | disposition of Real Property, or contracts for the performance | 11 | | of services by a local unit of government on behalf of the | 12 | | Authority or by the Authority on behalf of a local unit of | 13 | | government. | 14 | | (b) The parties to the intergovernmental agreements shall | 15 | | agree that no party to an intergovernmental agreement shall be | 16 | | responsible, in whole or in part, for the acts of the | 17 | | employees, agents, and servants of any other party, whether | 18 | | acting separately or in conjunction with the implementation of | 19 | | an agreement. The parties shall only be bound and obligated | 20 | | under an agreement as expressly agreed to by each party. | 21 | | (c) All agreements shall in all respects be interpreted, | 22 | | enforced, and governed under the laws of the State of Illinois | 23 | | without regard to the doctrines of conflict of laws. The | 24 | | language of all parts of an agreement shall in all cases be | 25 | | construed as a whole according to its plain and fair meaning, |
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| 1 | | and not construed strictly for or against any Party.
| 2 | | (d) All agreements with municipalities shall include | 3 | | language that the municipality consents to participation in the | 4 | | pilot program under this Act. | 5 | | Section 160. Procurement. The Authority shall promulgate | 6 | | rules regarding the procurement of contracts and services of | 7 | | local real estate brokers and construction crews. | 8 | | (a) Real estate brokers. The Authority shall contract the | 9 | | services of 15 real estate brokers to sell or list homes after | 10 | | they are repaired under this Act. Bidding shall occur at an | 11 | | open meeting convened by the Authority in accordance with the | 12 | | Open Meetings Act. A real estate broker shall possess a real | 13 | | estate broker's license and shall be in good standing with the | 14 | | Department of Financial and Professional Regulation. | 15 | | For purposes of this Section, "local" means having a | 16 | | principal place of business within the boundaries of Bloom | 17 | | Township, Bremen Township, Calumet Township, Rich Township, or | 18 | | Thornton Township in Cook County. | 19 | | (b) Construction crews. The Authority shall contract the | 20 | | services of construction crews composed of students from | 21 | | construction programs with an accredited community college or | 22 | | institute of higher education located within the boundaries of | 23 | | the township. | 24 | | Section 165. Records.
The Authority shall keep and maintain |
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| 1 | | at the principal office of the Authority all documents and | 2 | | records of the Authority. The records of the Authority, which | 3 | | shall be available to the public, shall include, but not be | 4 | | limited to, a copy of this Act, a copy of the ordinance | 5 | | creating the Authority, the Authority's bylaws, and any | 6 | | agreements and amendments, as applicable. The records and | 7 | | documents shall be maintained and shall be delivered to any | 8 | | successor entity.
| 9 | | Section 170. Financial statements and quarterly reports.
| 10 | | (a) The Authority shall prepare, at the Authority's | 11 | | expense, audited financial statements, including a balance | 12 | | sheet, statement of revenue and expense, statement of cash | 13 | | flows, and changes in fund balance, on an annual basis. This | 14 | | financial statements shall be prepared in accordance with | 15 | | generally accepted accounting principles and accompanied by a | 16 | | written opinion of an independent certified public accounting | 17 | | firm. | 18 | | (b) The Authority shall submit reports under this Section | 19 | | to the Illinois Housing Development Authority. The reports | 20 | | shall include: (1) the number of foreclosed properties in the | 21 | | township; (2) the number of properties acquired pursuant to the | 22 | | pilot program under this Act; (3) the number of projects | 23 | | completed to date under the pilot program; and (4) financial | 24 | | details regarding the cost of the projects, the amount a | 25 | | project sold for, and whether there exists a net gain or loss |
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| 1 | | for the Authority. | 2 | | Section 175. Annual budget.
| 3 | | (a) The Authority shall prepare an annual budget in a | 4 | | manner and under a time frame mandated by the corporate | 5 | | authorities. | 6 | | (b) The obligations and expenditures of the Board of | 7 | | Directors shall conform to the any applicable local | 8 | | appropriation ordinance, provided that the corporate | 9 | | authorities retain the authority to impose additional | 10 | | limitations. Any commitment, contract or other obligation | 11 | | entered into by the Board in derogation of this Section shall | 12 | | be voidable by the corporate authorities and the Illinois | 13 | | Housing Development Authority.
| 14 | | Section 180. Deposits and investments.
The Authority shall | 15 | | deposit funds of the Authority in a special fund to be held by | 16 | | the treasurer of the township, designated as the "Local | 17 | | Government Stabilization Authority Fund" and expended | 18 | | exclusively for the operation of the Authority.
| 19 | | Section 185. Disbursements.
Expenditures of funds from the | 20 | | Local Government Stabilization Authority Fund shall be in | 21 | | accordance with guidelines established by the Board of | 22 | | Directors.
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| 1 | | Section 190. Performance objectives. Each Fiscal Year, the | 2 | | Director, or other individual designated by the Board of | 3 | | Directors, shall prepare, for review and approval by the Board | 4 | | of Directors, objectives for the Authority's performance. | 5 | | Section 195. Annual report. | 6 | | (a) The Board of Directors shall submit to the corporate | 7 | | authorities, within 6 months after the end of each Fiscal Year, | 8 | | a report that shall set forth a complete and detailed operating | 9 | | and financial statement of the Authority during such Fiscal | 10 | | Year. | 11 | | (b) Included in the report shall be any recommendations for | 12 | | additional legislation or other action that may be necessary to | 13 | | carry out the mission, purpose, and intent of the Authority.
| 14 | | Section 200. Management of funds.
The Director, or other | 15 | | individual designated by the Board of Directors, is authorized | 16 | | to make deposits and withdraw funds from the Local Government | 17 | | Stabilization Authority Fund for the management of sales | 18 | | proceeds, revenue, and other Authority funds as authorized by | 19 | | the Board of Directors. Standard accounting procedures shall be | 20 | | used in the management of accounts and approved by the | 21 | | corporate authorities.
| 22 | | Section 205. Authorized expenditures.
The Authority shall | 23 | | in its sole discretion and within its budget, expend funds as |
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| 1 | | necessary to carry out the powers, duties, functions, and | 2 | | responsibilities of an Authority under this Act.
| 3 | | Section 210. Dissolution of assets.
Upon determining that | 4 | | the purposes of the Authority have been completed and that | 5 | | there is no longer a need for the Authority's continued | 6 | | existence, the corporate authorities may repeal the enacting | 7 | | ordinance and dissolve the Authority provided, however, that | 8 | | the effective date of a repeal shall provide sufficient time | 9 | | for the Authority to carry out the provisions set forth in | 10 | | Section 190.
| 11 | | As soon as possible after notice of the repeal of this Act | 12 | | or the repeal of a local enacting ordinance, the Authority | 13 | | shall finish its affairs as follows: | 14 | | (a) all of the Authority's debts, liabilities, and | 15 | | obligations to its creditors and all expenses incurred in | 16 | | connection with the termination of the Authority and | 17 | | distribution of its assets shall be paid first; and | 18 | | (b) the remaining Real Property and personal property owned | 19 | | by the Authority, if any, shall be distributed to any successor | 20 | | entity, subject to approval by the corporate authorities. In | 21 | | the event that no successor entity exists, the remaining Real | 22 | | Property and personal property, and other assets of the | 23 | | Authority, shall become assets of the corporate authorities, | 24 | | unless provided otherwise in any applicable agreements.
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| 1 | | Section 215. Interpretation.
All powers granted to the | 2 | | Authority under this Act shall be interpreted broadly to | 3 | | effectuate the intent and purposes of this Act and not to serve | 4 | | as a limitation of powers.
| 5 | | Section 220. Severability. The provisions of this Act are | 6 | | severable under Section 1.31 of the Statute on Statutes. | 7 | | Section 999. Effective date. This Act takes effect upon | 8 | | becoming law. |
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