(50 ILCS 25/2) (from Ch. 85, par. 1062)
Sec. 2.
The following terms, wherever used or referred to in this Act, shall
have the following respective meanings, unless in any case a different
meaning clearly appears from the context.
(a) "Public Agency" or "public agency of the State" means the various
counties, townships, cities, villages and incorporated towns, school
districts, sanitary districts, boards of education, park districts, housing
authorities, public building commissions, or any other municipal
corporation or governmental agencies of the State, now or hereafter
created, whether herein specifically enumerated or not.
(b) "Governing body" shall include a county board, city council, board
of trustees, board of managers, board of commissioners, or any other body
or board, by whatever name it may be known or designated, charged by law
with the governing of a public agency.
(c) "Combined Occupancy Structure" means any improvement on real
property or any interests therein or thereto, including fee interests,
leaseholds, easements, space rights or air rights, either containing a
public improvement in combination with other compatible desirable and
lawful non-public use or uses, or a compatible desirable and lawful
non-public use or uses constructed in whole or in part over an existing
public improvement, which Combined Occupancy Structure is designed and
intended to increase, from both a planning and economic viewpoint, the
efficient utilization of available land areas.
(d) "Developer" means any private individual, partnership, joint
venture, trust, corporation or other legal entity or any combination
thereof approved by the governing body of a public agency as being
qualified and eligible to enter into one or more agreements with a public
agency providing for the purchase or lease of air rights and the
construction of any combined occupancy structures, or portion thereof,
including facilities and appurtenances thereto; which agreements shall be
subject to the approval of the governing body of the public agency.
(e) "Real Property" means lands, waters, rights in lands or waters
structures, franchises and interests in land, including air space rights,
and any and all other things and rights usually included within the same
term, and includes also any and all interests in such property less than
full title, such as easements, perpetual, permanent or temporary,
rights-of-way, uses, leases, licenses and any and all other incorporeal
hereditaments in every estate, interest or right, legal or equitable.
(f) "Public portion" or "public portion of a combined occupancy
structure" means that portion of a combined occupancy structure designed,
constructed, and improved for sole and exclusive use and occupancy by a
public agency for public use or public purpose, including facilities and
appurtenances thereto.
(g) "Fair Use Value" shall mean the fair cash market value of air
rights, sold or leased, over existing or proposed public improvements or
developments when employed for use contemplated for the non-public portion
of a combined occupancy structure.
(Source: P.A. 76-1161.)
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