(50 ILCS 350/5)
Sec. 5. Findings and purpose.
(a) The General Assembly finds that:
(1) There is a great need for economic revitalization |
| in many communities throughout this State.
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(2) Each community has valuable resources at its
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| fingertips that can be tapped in the revitalization process.
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(3) With adequate support and assistance from the
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| State and other resources, each community can participate in and shepherd its own economic renewal.
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(4) Successful redevelopment plans are based on
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| policy that is responsive to the existing composition and character of the economically distressed community and that allows and compels the community to participate in the redevelopment planning process.
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(5) A successful redevelopment initiative creates and
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| maintains a capable and adaptable workforce, has access to capital, has a sound fiscal base, has adequate infrastructure, has well-managed natural resources, and has an attractive quality of life.
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(b) It is the purpose of this legislation to provide a mechanism for an
economically distressed community to use in its efforts to revitalize the
community.
(Source: P.A. 95-557, eff. 8-30-07.)
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