[ Search ] [ PDF text ] [ Legislation ]
[ Home ] [ Back ] [ Bottom ]
| [ Engrossed ] | [ House Amendment 001 ] | [ House Amendment 002 ] |
92_HB3241
LRB9205355SMks
1 AN ACT concerning municipalities.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The Illinois Municipal Code is amended by
5 changing Sections 8-8-3.5, 11-74.4-5, and 11-74.6-22 as
6 follows:
7 (65 ILCS 5/8-8-3.5)
8 Sec. 8-8-3.5. Tax Increment Financing Report;
9 evaluation.
10 (a) The reports filed under subsection (d) of Section
11 11-74.4-5 of the Tax Increment Allocation Redevelopment Act
12 and the reports filed under subsection (d) of Section
13 11-74.6-22 of the Industrial Jobs Recovery Law in the
14 Illinois Municipal Code must be separate from any other
15 annual report filed with the Comptroller (before the
16 effective date of this amendatory Act of the 92nd General
17 Assembly and the Department of Commerce and Community Affairs
18 on and after that date). The Comptroller (before the
19 effective date of this amendatory Act of the 92nd General
20 Assembly and the Department of Commerce and Community Affairs
21 on and after that date) must, in cooperation with reporting
22 municipalities, create a format for the reporting of
23 information described in paragraphs (1.5) and (5) and in
24 subparagraph (G) of paragraph (7) of subsection (d) of
25 Section 11-74.4-5 of the Tax Increment Allocation
26 Redevelopment Act and the information described in paragraphs
27 (1.5) and (5) and in subparagraph (G) of paragraph (7) of
28 subsection (d) of Section 11-74.6-22 of the Industrial Jobs
29 Recovery Law that facilitates consistent reporting among the
30 reporting municipalities. The Comptroller (before the
31 effective date of this amendatory Act of the 92nd General
-2- LRB9205355SMks
1 Assembly and the Department of Commerce and Community Affairs
2 on and after that) may allow these reports to be filed
3 electronically and may display the report, or portions of the
4 report, electronically via the Internet. All reports filed
5 under this Section must be made available for examination and
6 copying by the public at all reasonable times.
7 (b) The Department of Commerce and Community Affairs
8 shall annually evaluate tax increment financing districts in
9 Illinois using a cost-benefit analysis. For each tax
10 increment financing district the Department shall determine
11 the increase in the assessed value of property in the
12 district from the time the district was formed up to the date
13 of the most recent report filed under this Section. The
14 Department shall also determine the amount of tax revenue
15 foregone by each taxing district in which the tax increment
16 financing district is located. The Department shall also
17 determine, for all tax increment financing districts
18 combined, the level of tax revenue generated within the
19 districts at the time the district was formed and the tax
20 revenue generated in the districts at the time of the most
21 recent reports submitted under this Section. The Department
22 shall annually submit a report of this analysis to the
23 municipality in which the tax increment financing district is
24 located and to each taxing body affected by the tax increment
25 financing district.
26 (Source: P.A. 91-478, eff. 11-1-99; 91-900, eff. 7-6-00.)
27 (65 ILCS 5/11-74.4-5) (from Ch. 24, par. 11-74.4-5)
28 Sec. 11-74.4-5. (a) The changes made by this amendatory
29 Act of the 91st General Assembly do not apply to a
30 municipality that, (i) before the effective date of this
31 amendatory Act of the 91st General Assembly, has adopted an
32 ordinance or resolution fixing a time and place for a public
33 hearing under this Section or (ii) before July 1, 1999, has
-3- LRB9205355SMks
1 adopted an ordinance or resolution providing for a
2 feasibility study under Section 11-74.4-4.1, but has not yet
3 adopted an ordinance approving redevelopment plans and
4 redevelopment projects or designating redevelopment project
5 areas under Section 11-74.4-4, until after that municipality
6 adopts an ordinance approving redevelopment plans and
7 redevelopment projects or designating redevelopment project
8 areas under Section 11-74.4-4; thereafter the changes made by
9 this amendatory Act of the 91st General Assembly apply to the
10 same extent that they apply to redevelopment plans and
11 redevelopment projects that were approved and redevelopment
12 projects that were designated before the effective date of
13 this amendatory Act of the 91st General Assembly.
14 Prior to the adoption of an ordinance proposing the
15 designation of a redevelopment project area, or approving a
16 redevelopment plan or redevelopment project, the municipality
17 by its corporate authorities, or as it may determine by any
18 commission designated under subsection (k) of Section
19 11-74.4-4 shall adopt an ordinance or resolution fixing a
20 time and place for public hearing. Prior to the adoption of
21 the ordinance or resolution establishing the time and place
22 for the public hearing, the municipality shall make available
23 for public inspection a redevelopment plan or a separate
24 report that provides in reasonable detail the basis for the
25 eligibility of the redevelopment project area. The report
26 along with the name of a person to contact for further
27 information shall be sent within a reasonable time after the
28 adoption of such ordinance or resolution to the affected
29 taxing districts by certified mail. On and after the
30 effective date of this amendatory Act of the 91st General
31 Assembly, the municipality shall print in a newspaper of
32 general circulation within the municipality a notice that
33 interested persons may register with the municipality in
34 order to receive information on the proposed designation of a
-4- LRB9205355SMks
1 redevelopment project area or the approval of a redevelopment
2 plan. The notice shall state the place of registration and
3 the operating hours of that place. The municipality shall
4 have adopted reasonable rules to implement this registration
5 process under Section 11-74.4-4.2. Notice of the
6 availability of the redevelopment plan and eligibility
7 report, including how to obtain this information, shall also
8 be sent by mail within a reasonable time after the adoption
9 of the ordinance or resolution to all residents within the
10 postal zip code area or areas contained in whole or in part
11 within the proposed redevelopment project area or
12 organizations that operate in the municipality that have
13 registered with the municipality for that information in
14 accordance with the registration guidelines established by
15 the municipality under Section 11-74.4-4.2.
16 At the public hearing any interested person or affected
17 taxing district may file with the municipal clerk written
18 objections to and may be heard orally in respect to any
19 issues embodied in the notice. The municipality shall hear
20 and determine all protests and objections at the hearing and
21 the hearing may be adjourned to another date without further
22 notice other than a motion to be entered upon the minutes
23 fixing the time and place of the subsequent hearing. At the
24 public hearing or at any time prior to the adoption by the
25 municipality of an ordinance approving a redevelopment plan,
26 the municipality may make changes in the redevelopment plan.
27 Changes which (1) add additional parcels of property to the
28 proposed redevelopment project area, (2) substantially affect
29 the general land uses proposed in the redevelopment plan, (3)
30 substantially change the nature of or extend the life of the
31 redevelopment project, or (4) increase the number of low or
32 very low income households to be displaced from the
33 redevelopment project area, provided that measured from the
34 time of creation of the redevelopment project area the total
-5- LRB9205355SMks
1 displacement of the households will exceed 10, shall be made
2 only after the municipality gives notice, convenes a joint
3 review board, and conducts a public hearing pursuant to the
4 procedures set forth in this Section and in Section 11-74.4-6
5 of this Act. Changes which do not (1) add additional parcels
6 of property to the proposed redevelopment project area, (2)
7 substantially affect the general land uses proposed in the
8 redevelopment plan, (3) substantially change the nature of or
9 extend the life of the redevelopment project, or (4) increase
10 the number of low or very low income households to be
11 displaced from the redevelopment project area, provided that
12 measured from the time of creation of the redevelopment
13 project area the total displacement of the households will
14 exceed 10, may be made without further hearing, provided that
15 the municipality shall give notice of any such changes by
16 mail to each affected taxing district and registrant on the
17 interested parties registry, provided for under Section
18 11-74.4-4.2, and by publication in a newspaper of general
19 circulation within the affected taxing district. Such notice
20 by mail and by publication shall each occur not later than 10
21 days following the adoption by ordinance of such changes.
22 Hearings with regard to a redevelopment project area, project
23 or plan may be held simultaneously.
24 (b) Prior to holding a public hearing to approve or
25 amend a redevelopment plan or to designate or add additional
26 parcels of property to a redevelopment project area, the
27 municipality shall convene a joint review board. The board
28 shall consist of a representative selected by each community
29 college district, local elementary school district and high
30 school district or each local community unit school district,
31 park district, library district, township, fire protection
32 district, and county that will have the authority to directly
33 levy taxes on the property within the proposed redevelopment
34 project area at the time that the proposed redevelopment
-6- LRB9205355SMks
1 project area is approved, a representative selected by the
2 municipality and a public member. The public member shall
3 first be selected and then the board's chairperson shall be
4 selected by a majority of the board members present and
5 voting.
6 For redevelopment project areas with redevelopment plans
7 or proposed redevelopment plans that would result in the
8 displacement of residents from 10 or more inhabited
9 residential units or that include 75 or more inhabited
10 residential units, the public member shall be a person who
11 resides in the redevelopment project area. If, as determined
12 by the housing impact study provided for in paragraph (5) of
13 subsection (n) of Section 11-74.4-3, or if no housing impact
14 study is required then based on other reasonable data, the
15 majority of residential units are occupied by very low, low,
16 or moderate income households, as defined in Section 3 of the
17 Illinois Affordable Housing Act, the public member shall be a
18 person who resides in very low, low, or moderate income
19 housing within the redevelopment project area.
20 Municipalities with fewer than 15,000 residents shall not be
21 required to select a person who lives in very low, low, or
22 moderate income housing within the redevelopment project
23 area, provided that the redevelopment plan or project will
24 not result in displacement of residents from 10 or more
25 inhabited units, and the municipality so certifies in the
26 plan. If no person satisfying these requirements is
27 available or if no qualified person will serve as the public
28 member, then the joint review board is relieved of this
29 paragraph's selection requirements for the public member.
30 Within 90 days of the effective date of this amendatory
31 Act of the 91st General Assembly, each municipality that
32 designated a redevelopment project area for which it was not
33 required to convene a joint review board under this Section
34 shall convene a joint review board to perform the duties
-7- LRB9205355SMks
1 specified under paragraph (e) of this Section.
2 All board members shall be appointed and the first board
3 meeting held following at least 14 days after notice by the
4 municipality to all the taxing districts as required by
5 Section 11-74.4-6(c). Such notice shall also advise the
6 taxing bodies represented on the joint review board of the
7 time and place of the first meeting of the board. Additional
8 meetings of the board shall be held upon the call of any
9 member. The municipality seeking designation of the
10 redevelopment project area shall provide administrative
11 support to the board.
12 The board shall review (i) the public record, planning
13 documents and proposed ordinances approving the redevelopment
14 plan and project and (ii) proposed amendments to the
15 redevelopment plan or additions of parcels of property to the
16 redevelopment project area to be adopted by the municipality.
17 As part of its deliberations, the board may hold additional
18 hearings on the proposal. A board's recommendation shall be
19 an advisory, non-binding recommendation. The recommendation
20 shall be adopted by a majority of those members present and
21 voting. The recommendations shall be submitted to the
22 municipality within 30 days after convening of the board.
23 Failure of the board to submit its report on a timely basis
24 shall not be cause to delay the public hearing or any other
25 step in the process of designating or amending the
26 redevelopment project area but shall be deemed to constitute
27 approval by the joint review board of the matters before it.
28 The board shall base its recommendation to approve or
29 disapprove the redevelopment plan and the designation of the
30 redevelopment project area or the amendment of the
31 redevelopment plan or addition of parcels of property to the
32 redevelopment project area on the basis of the redevelopment
33 project area and redevelopment plan satisfying the plan
34 requirements, the eligibility criteria defined in Section
-8- LRB9205355SMks
1 11-74.4-3, and the objectives of this Act.
2 The board shall issue a written report describing why the
3 redevelopment plan and project area or the amendment thereof
4 meets or fails to meet one or more of the objectives of this
5 Act and both the plan requirements and the eligibility
6 criteria defined in Section 11-74.4-3. In the event the Board
7 does not file a report it shall be presumed that these taxing
8 bodies find the redevelopment project area and redevelopment
9 plan satisfy the objectives of this Act and the plan
10 requirements and eligibility criteria.
11 If the board recommends rejection of the matters before
12 it, the municipality will have 30 days within which to
13 resubmit the plan or amendment. During this period, the
14 municipality will meet and confer with the board and attempt
15 to resolve those issues set forth in the board's written
16 report that lead to the rejection of the plan or amendment.
17 In the event that the municipality and the board are unable
18 to resolve these differences, or in the event that the
19 resubmitted plan or amendment is rejected by the board, the
20 municipality may proceed with the plan or amendment, but only
21 upon a three-fifths vote of the corporate authority
22 responsible for approval of the plan or amendment, excluding
23 positions of members that are vacant and those members that
24 are ineligible to vote because of conflicts of interest.
25 (c) After a municipality has by ordinance approved a
26 redevelopment plan and designated a redevelopment project
27 area, the plan may be amended and additional properties may
28 be added to the redevelopment project area only as herein
29 provided. Amendments which (1) add additional parcels of
30 property to the proposed redevelopment project area, (2)
31 substantially affect the general land uses proposed in the
32 redevelopment plan, (3) substantially change the nature of
33 the redevelopment project, (4) increase the total estimated
34 redevelopment project costs set out in the redevelopment plan
-9- LRB9205355SMks
1 by more than 5% after adjustment for inflation from the date
2 the plan was adopted, (5) add additional redevelopment
3 project costs to the itemized list of redevelopment project
4 costs set out in the redevelopment plan, or (6) increase the
5 number of low or very low income households to be displaced
6 from the redevelopment project area, provided that measured
7 from the time of creation of the redevelopment project area
8 the total displacement of the households will exceed 10,
9 shall be made only after the municipality gives notice,
10 convenes a joint review board, and conducts a public hearing
11 pursuant to the procedures set forth in this Section and in
12 Section 11-74.4-6 of this Act. Changes which do not (1) add
13 additional parcels of property to the proposed redevelopment
14 project area, (2) substantially affect the general land uses
15 proposed in the redevelopment plan, (3) substantially change
16 the nature of the redevelopment project, (4) increase the
17 total estimated redevelopment project cost set out in the
18 redevelopment plan by more than 5% after adjustment for
19 inflation from the date the plan was adopted, (5) add
20 additional redevelopment project costs to the itemized list
21 of redevelopment project costs set out in the redevelopment
22 plan, or (6) increase the number of low or very low income
23 households to be displaced from the redevelopment project
24 area, provided that measured from the time of creation of the
25 redevelopment project area the total displacement of the
26 households will exceed 10, may be made without further
27 hearing, provided that the municipality shall give notice of
28 any such changes by mail to each affected taxing district and
29 registrant on the interested parties registry, provided for
30 under Section 11-74.4-4.2, and by publication in a newspaper
31 of general circulation within the affected taxing district.
32 Such notice by mail and by publication shall each occur not
33 later than 10 days following the adoption by ordinance of
34 such changes.
-10- LRB9205355SMks
1 (d) After the effective date of this amendatory Act of
2 the 91st General Assembly, a municipality shall submit the
3 following information for each redevelopment project area (i)
4 to the State Comptroller (before the effective date of this
5 amendatory Act of the 92nd General Assembly and the
6 Department of Commerce and Community Affairs on and after
7 that date) under Section 8-8-3.5 of the Illinois Municipal
8 Code and (ii) to all taxing districts overlapping the
9 redevelopment project area no later than 180 days after the
10 close of each municipal fiscal year or as soon thereafter as
11 the audited financial statements become available and, in any
12 case, shall be submitted before the annual meeting of the
13 Joint Review Board to each of the taxing districts that
14 overlap the redevelopment project area:
15 (1) Any amendments to the redevelopment plan, the
16 redevelopment project area, or the State Sales Tax
17 Boundary.
18 (1.5) A list of the redevelopment project areas
19 administered by the municipality and, if applicable, the
20 date each redevelopment project area was designated or
21 terminated by the municipality.
22 (2) Audited financial statements of the special tax
23 allocation fund once a cumulative total of $100,000 has
24 been deposited in the fund.
25 (3) Certification of the Chief Executive Officer of
26 the municipality that the municipality has complied with
27 all of the requirements of this Act during the preceding
28 fiscal year.
29 (4) An opinion of legal counsel that the
30 municipality is in compliance with this Act.
31 (5) An analysis of the special tax allocation fund
32 which sets forth:
33 (A) the balance in the special tax allocation
34 fund at the beginning of the fiscal year;
-11- LRB9205355SMks
1 (B) all amounts deposited in the special tax
2 allocation fund by source;
3 (C) an itemized list of all expenditures from
4 the special tax allocation fund by category of
5 permissible redevelopment project cost; and
6 (D) the balance in the special tax allocation
7 fund at the end of the fiscal year including a
8 breakdown of that balance by source and a breakdown
9 of that balance identifying any portion of the
10 balance that is required, pledged, earmarked, or
11 otherwise designated for payment of or securing of
12 obligations and anticipated redevelopment project
13 costs. Any portion of such ending balance that has
14 not been identified or is not identified as being
15 required, pledged, earmarked, or otherwise
16 designated for payment of or securing of obligations
17 or anticipated redevelopment projects costs shall be
18 designated as surplus as set forth in Section
19 11-74.4-7 hereof.
20 (6) A description of all property purchased by the
21 municipality within the redevelopment project area
22 including:
23 (A) Street address.
24 (B) Approximate size or description of
25 property.
26 (C) Purchase price.
27 (D) Seller of property.
28 (7) A statement setting forth all activities
29 undertaken in furtherance of the objectives of the
30 redevelopment plan, including:
31 (A) Any project implemented in the preceding
32 fiscal year.
33 (B) A description of the redevelopment
34 activities undertaken.
-12- LRB9205355SMks
1 (C) A description of any agreements entered
2 into by the municipality with regard to the
3 disposition or redevelopment of any property within
4 the redevelopment project area or the area within
5 the State Sales Tax Boundary.
6 (D) Additional information on the use of all
7 funds received under this Division and steps taken
8 by the municipality to achieve the objectives of the
9 redevelopment plan.
10 (E) Information regarding contracts that the
11 municipality's tax increment advisors or consultants
12 have entered into with entities or persons that have
13 received, or are receiving, payments financed by tax
14 increment revenues produced by the same
15 redevelopment project area.
16 (F) Any reports submitted to the municipality
17 by the joint review board.
18 (G) A review of public and, to the extent
19 possible, private investment actually undertaken to
20 date after the effective date of this amendatory Act
21 of the 91st General Assembly and estimated to be
22 undertaken during the following year. This review
23 shall, on a project-by-project basis, set forth the
24 estimated amounts of public and private investment
25 incurred after the effective date of this amendatory
26 Act of the 91st General Assembly and provide the
27 ratio of private investment to public investment to
28 the date of the report and as estimated to the
29 completion of the redevelopment project.
30 (8) With regard to any obligations issued by the
31 municipality:
32 (A) copies of any official statements; and
33 (B) an analysis prepared by financial advisor
34 or underwriter setting forth: (i) nature and term of
-13- LRB9205355SMks
1 obligation; and (ii) projected debt service
2 including required reserves and debt coverage.
3 (9) For special tax allocation funds that have
4 experienced cumulative deposits of incremental tax
5 revenues of $100,000 or more, a certified audit report
6 reviewing compliance with this Act performed by an
7 independent public accountant certified and licensed by
8 the authority of the State of Illinois. The financial
9 portion of the audit must be conducted in accordance with
10 Standards for Audits of Governmental Organizations,
11 Programs, Activities, and Functions adopted by the
12 Comptroller General of the United States (1981), as
13 amended, or the standards specified by Section 8-8-5 of
14 the Illinois Municipal Auditing Law of the Illinois
15 Municipal Code. The audit report shall contain a letter
16 from the independent certified public accountant
17 indicating compliance or noncompliance with the
18 requirements of subsection (q) of Section 11-74.4-3. For
19 redevelopment plans or projects that would result in the
20 displacement of residents from 10 or more inhabited
21 residential units or that contain 75 or more inhabited
22 residential units, notice of the availability of the
23 information, including how to obtain the report, required
24 in this subsection shall also be sent by mail to all
25 residents or organizations that operate in the
26 municipality that register with the municipality for that
27 information according to registration procedures adopted
28 under Section 11-74.4-4.2. All municipalities are
29 subject to this provision.
30 (d-1) Prior to the effective date of this amendatory Act
31 of the 91st General Assembly, municipalities with populations
32 of over 1,000,000 shall, after adoption of a redevelopment
33 plan or project, make available upon request to any taxing
34 district in which the redevelopment project area is located
-14- LRB9205355SMks
1 the following information:
2 (1) Any amendments to the redevelopment plan, the
3 redevelopment project area, or the State Sales Tax
4 Boundary; and
5 (2) In connection with any redevelopment project
6 area for which the municipality has outstanding
7 obligations issued to provide for redevelopment project
8 costs pursuant to Section 11-74.4-7, audited financial
9 statements of the special tax allocation fund.
10 (e) The joint review board shall meet annually 180 days
11 after the close of the municipal fiscal year or as soon as
12 the redevelopment project audit for that fiscal year becomes
13 available to review the effectiveness and status of the
14 redevelopment project area up to that date.
15 (f) (Blank).
16 (g) In the event that a municipality has held a public
17 hearing under this Section prior to March 14, 1994 (the
18 effective date of Public Act 88-537), the requirements
19 imposed by Public Act 88-537 relating to the method of fixing
20 the time and place for public hearing, the materials and
21 information required to be made available for public
22 inspection, and the information required to be sent after
23 adoption of an ordinance or resolution fixing a time and
24 place for public hearing shall not be applicable.
25 (Source: P.A. 91-357, eff. 7-29-99; 91-478, eff. 11-1-99;
26 91-900, eff. 7-6-00.)
27 (65 ILCS 5/11-74.6-22)
28 Sec. 11-74.6-22. Adoption of ordinance; requirements;
29 changes.
30 (a) Before adoption of an ordinance proposing the
31 designation of a redevelopment planning area or a
32 redevelopment project area, or both, or approving a
33 redevelopment plan or redevelopment project, the municipality
-15- LRB9205355SMks
1 or commission designated pursuant to subsection (l) of
2 Section 11-74.6-15 shall fix by ordinance or resolution a
3 time and place for public hearing. Prior to the adoption of
4 the ordinance or resolution establishing the time and place
5 for the public hearing, the municipality shall make available
6 for public inspection a redevelopment plan or a report that
7 provides in sufficient detail, the basis for the eligibility
8 of the redevelopment project area. The report along with the
9 name of a person to contact for further information shall be
10 sent to the affected taxing district by certified mail within
11 a reasonable time following the adoption of the ordinance or
12 resolution establishing the time and place for the public
13 hearing.
14 At the public hearing any interested person or affected
15 taxing district may file with the municipal clerk written
16 objections to the ordinance and may be heard orally on any
17 issues that are the subject of the hearing. The municipality
18 shall hear and determine all alternate proposals or bids for
19 any proposed conveyance, lease, mortgage or other disposition
20 of land and all protests and objections at the hearing and
21 the hearing may be adjourned to another date without further
22 notice other than a motion to be entered upon the minutes
23 fixing the time and place of the later hearing. At the public
24 hearing or at any time prior to the adoption by the
25 municipality of an ordinance approving a redevelopment plan,
26 the municipality may make changes in the redevelopment plan.
27 Changes which (1) add additional parcels of property to the
28 proposed redevelopment project area, (2) substantially affect
29 the general land uses proposed in the redevelopment plan, or
30 (3) substantially change the nature of or extend the life of
31 the redevelopment project shall be made only after the
32 municipality gives notice, convenes a joint review board, and
33 conducts a public hearing pursuant to the procedures set
34 forth in this Section and in Section 11-74.6-25. Changes
-16- LRB9205355SMks
1 which do not (1) add additional parcels of property to the
2 proposed redevelopment project area, (2) substantially affect
3 the general land uses proposed in the redevelopment plan, or
4 (3) substantially change the nature of or extend the life of
5 the redevelopment project may be made without further
6 hearing, provided that the municipality shall give notice of
7 any such changes by mail to each affected taxing district and
8 by publication in a newspaper of general circulation within
9 the affected taxing district. Such notice by mail and by
10 publication shall each occur not later than 10 days following
11 the adoption by ordinance of such changes.
12 (b) Before adoption of an ordinance proposing the
13 designation of a redevelopment planning area or a
14 redevelopment project area, or both, or amending the
15 boundaries of an existing redevelopment project area or
16 redevelopment planning area, or both, the municipality shall
17 convene a joint review board to consider the proposal. The
18 board shall consist of a representative selected by each
19 taxing district that has authority to levy real property
20 taxes on the property within the proposed redevelopment
21 project area and that has at least 5% of its total equalized
22 assessed value located within the proposed redevelopment
23 project area, a representative selected by the municipality
24 and a public member. The public member and the board's
25 chairperson shall be selected by a majority of other board
26 members.
27 All board members shall be appointed and the first board
28 meeting held within 14 days following the notice by the
29 municipality to all the taxing districts as required by
30 subsection (c) of Section 11-74.6-25. The notice shall also
31 advise the taxing bodies represented on the joint review
32 board of the time and place of the first meeting of the
33 board. Additional meetings of the board shall be held upon
34 the call of any 2 members. The municipality seeking
-17- LRB9205355SMks
1 designation of the redevelopment project area may provide
2 administrative support to the board.
3 The board shall review the public record, planning
4 documents and proposed ordinances approving the redevelopment
5 plan and project to be adopted by the municipality. As part
6 of its deliberations, the board may hold additional hearings
7 on the proposal. A board's recommendation, if any, shall be a
8 written recommendation adopted by a majority vote of the
9 board and submitted to the municipality within 30 days after
10 the board convenes. A board's recommendation shall be binding
11 upon the municipality. Failure of the board to submit its
12 recommendation on a timely basis shall not be cause to delay
13 the public hearing or the process of establishing or amending
14 the redevelopment project area. The board's recommendation on
15 the proposal shall be based upon the area satisfying the
16 applicable eligibility criteria defined in Section 11-74.6-10
17 and whether there is a basis for the municipal findings set
18 forth in the redevelopment plan as required by this Act. If
19 the board does not file a recommendation it shall be presumed
20 that the board has found that the redevelopment project area
21 satisfies the eligibility criteria.
22 (c) After a municipality has by ordinance approved a
23 redevelopment plan and designated a redevelopment planning
24 area or a redevelopment project area, or both, the plan may
25 be amended and additional properties may be added to the
26 redevelopment project area only as herein provided.
27 Amendments which (1) add additional parcels of property to
28 the proposed redevelopment project area, (2) substantially
29 affect the general land uses proposed in the redevelopment
30 plan, (3) substantially change the nature of the
31 redevelopment project, (4) increase the total estimated
32 redevelopment project costs set out in the redevelopment plan
33 by more than 5% after adjustment for inflation from the date
34 the plan was adopted, or (5) add additional redevelopment
-18- LRB9205355SMks
1 project costs to the itemized list of redevelopment project
2 costs set out in the redevelopment plan shall be made only
3 after the municipality gives notice, convenes a joint review
4 board, and conducts a public hearing pursuant to the
5 procedures set forth in this Section and in Section
6 11-74.6-25. Changes which do not (1) add additional parcels
7 of property to the proposed redevelopment project area, (2)
8 substantially affect the general land uses proposed in the
9 redevelopment plan, (3) substantially change the nature of
10 the redevelopment project, (4) increase the total estimated
11 redevelopment project cost set out in the redevelopment plan
12 by more than 5% after adjustment for inflation from the date
13 the plan was adopted, or (5) add additional redevelopment
14 project costs to the itemized list of redevelopment project
15 costs set out in the redevelopment plan may be made without
16 further hearing, provided that the municipality shall give
17 notice of any such changes by mail to each affected taxing
18 district and by publication in a newspaper of general
19 circulation within the affected taxing district. Such notice
20 by mail and by publication shall each occur not later than 10
21 days following the adoption by ordinance of such changes.
22 (d) After the effective date of this amendatory Act of
23 the 91st General Assembly, a municipality shall submit the
24 following information for each redevelopment project area (i)
25 to the State Comptroller (before the effective date of this
26 amendatory Act of the 92nd General Assembly and the
27 Department of Commerce and Community Affairs on and after
28 that date) under Section 8-8-3.5 of the Illinois Municipal
29 Code and (ii) to all taxing districts overlapping the
30 redevelopment project area no later than 180 days after the
31 close of each municipal fiscal year or as soon thereafter as
32 the audited financial statements become available and, in any
33 case, shall be submitted before the annual meeting of the
34 joint review board to each of the taxing districts that
-19- LRB9205355SMks
1 overlap the redevelopment project area:
2 (1) Any amendments to the redevelopment plan, or
3 the 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
10 tax increment revenues has been deposited in the fund.
11 (3) Certification of the Chief Executive Officer of
12 the municipality that the municipality has complied with
13 all of the requirements of this Act during the preceding
14 fiscal year.
15 (4) An opinion of legal counsel that the
16 municipality 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
20 fund 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
24 the special tax allocation fund by category of
25 permissible redevelopment project cost; and
26 (D) the balance in the special tax allocation
27 fund at the end of the fiscal year including a
28 breakdown of that balance by source and a breakdown
29 of that balance identifying any portion of the
30 balance that is required, pledged, earmarked, or
31 otherwise designated for payment of or securing of
32 obligations and anticipated redevelopment project
33 costs. Any portion of such ending balance that has
34 not been identified or is not identified as being
-20- LRB9205355SMks
1 required, pledged, earmarked, or otherwise
2 designated for payment of or securing of obligations
3 or anticipated redevelopment project costs shall be
4 designated as surplus as set forth in Section
5 11-74.6-30 hereof.
6 (6) A description of all property purchased by the
7 municipality within the redevelopment project area
8 including:
9 (A) Street address.
10 (B) Approximate size or description of
11 property.
12 (C) Purchase price.
13 (D) Seller of property.
14 (7) A statement setting forth all activities
15 undertaken in furtherance of the objectives of the
16 redevelopment plan, including:
17 (A) Any project implemented in the preceding
18 fiscal year.
19 (B) A description of the redevelopment
20 activities undertaken.
21 (C) A description of any agreements entered
22 into by the municipality with regard to the
23 disposition or redevelopment of any property within
24 the redevelopment project area.
25 (D) Additional information on the use of all
26 funds received under this Division and steps taken
27 by the municipality to achieve the objectives of the
28 redevelopment plan.
29 (E) Information regarding contracts that the
30 municipality's tax increment advisors or consultants
31 have entered into with entities or persons that have
32 received, or are receiving, payments financed by tax
33 increment revenues produced by the same
34 redevelopment project area.
-21- LRB9205355SMks
1 (F) Any reports submitted to the municipality
2 by the joint review board.
3 (G) A review of public and, to the extent
4 possible, private investment actually undertaken to
5 date after the effective date of this amendatory Act
6 of the 91st General Assembly and estimated to be
7 undertaken during the following year. This review
8 shall, on a project-by-project basis, set forth the
9 estimated amounts of public and private investment
10 incurred after the effective date of this amendatory
11 Act of the 91st General Assembly and provide the
12 ratio of private investment to public investment to
13 the date of the report and as estimated to the
14 completion of the redevelopment project.
15 (8) With regard to any obligations issued by the
16 municipality:
17 (A) copies of any official statements; and
18 (B) an analysis prepared by financial advisor
19 or underwriter setting forth: (i) nature and term of
20 obligation; and (ii) projected debt service
21 including required reserves and debt coverage.
22 (9) For special tax allocation funds that have
23 received cumulative deposits of incremental tax revenues
24 of $100,000 or more, a certified audit report reviewing
25 compliance with this Act performed by an independent
26 public accountant certified and licensed by the authority
27 of the State of Illinois. The financial portion of the
28 audit must be conducted in accordance with Standards for
29 Audits of Governmental Organizations, Programs,
30 Activities, and Functions adopted by the Comptroller
31 General of the United States (1981), as amended, or the
32 standards specified by Section 8-8-5 of the Illinois
33 Municipal Auditing Law of the Illinois Municipal Code.
34 The audit report shall contain a letter from the
-22- LRB9205355SMks
1 independent certified public accountant indicating
2 compliance or noncompliance with the requirements of
3 subsection (o) of Section 11-74.6-10.
4 (e) The joint review board shall meet annually 180 days
5 after the close of the municipal fiscal year or as soon as
6 the redevelopment project audit for that fiscal year becomes
7 available to review the effectiveness and status of the
8 redevelopment project area up to that date.
9 (Source: P.A. 91-474, eff. 11-1-99; 91-900, eff. 7-6-00.)