(65 ILCS 110/60)
Powers of municipalities; economic development project area
commissions. In addition to powers that it may now have, a municipality has
the following powers under this Act:
(1) To make and enter into all contracts necessary or incidental to the
implementation and furtherance of an economic development plan.
(2) Within an economic development project area, to acquire by purchase,
donation, lease, or eminent domain and to own, convey, lease, mortgage, or
dispose of land and other real or personal property or rights or interests in
property and to grant or acquire licenses, easements, and options with respect
to property, all in the manner and at a price the municipality determines is
reasonably necessary to achieve the objectives of the economic development
project. No conveyance, lease, mortgage, disposition of land, or agreement
relating to the development of property shall be made or executed except
pursuant to prior official action of the municipality. No conveyance, lease,
mortgage, or other disposition of land in furtherance of an economic
development project, and no agreement relating to the development of property
in furtherance of an economic development project, shall be made without making
public disclosure of the terms and disposition of all bids and proposals
submitted to the municipality in connection with that action.
(3) To clear any area within an economic development project area by
demolition or removal of any existing buildings, structures, fixtures,
utilities, or improvements and to clear and grade land.
(4) To install, repair, construct, reconstruct, extend or relocate public
streets, public utilities, and other public site improvements located outside
the boundaries of an economic development project area that are essential to
the preparation of an economic development project area for use in accordance
with an economic development plan.
(5) To renovate, rehabilitate, reconstruct, relocate, repair, or remodel any
existing buildings, improvements, and fixtures within an economic development
(6) To install or construct any buildings, structures, works, streets,
improvements, utilities, or fixtures within an economic development project
(7) To issue obligations as provided in this Act.
(8) To fix, charge, and collect fees, rents, and charges for the use of any
building, facility, or property or any portion of a building, facility, or
property owned or leased by the municipality in furtherance of an economic
development project under this Act within an economic development project area.
(9) To accept grants, guarantees, donations of property or labor, or any
other thing of value for use in connection with an economic development
(10) To pay or cause to be paid economic development project costs,
including, specifically, to reimburse any developer or nongovernmental person
for economic development project costs incurred by that person. Any payments
to be made by a municipality to developers or other nongovernmental persons for
economic development project costs incurred by the developer or other
nongovernmental person shall be made only pursuant to the prior official action
of the municipality evidencing an intent to pay or cause to be paid those
economic development costs. A municipality is not required
to obtain any right, title, or interest in any real or personal property in
order to pay economic development project costs associated with the property.
The municipality shall adopt accounting procedures necessary to determine that
the economic development project costs are properly paid.
(11) To utilize revenues received under this Act from one economic
development project area for economic development project costs in another
economic development project area that is either contiguous to, or is separated
only by a public right-of-way from, the economic development project area from
which the revenues are received.
(12) To exercise any and all other powers necessary to effectuate the
purposes of this Act.
(13) To create a commission of not less than 5 or more than 15 persons to be
appointed by the corporate authorities of the municipality. Members of a
commission shall be appointed for initial terms of 1, 2, 3, 4, and 5 years,
respectively, in numbers to provide that the terms of not more than one-third
of all the members shall expire in any one year. Their successors shall be
appointed for a term of 5 years. The commission, subject to approval of the
corporate authorities, may exercise the powers enumerated in this Section. The
commission also may hold the public hearings required by this Act and make
recommendations to the corporate authorities concerning the approval of
economic development plans, the establishment of economic development project
areas, and the adoption of tax increment allocation financing for economic
development project areas.
(Source: P.A. 89-176, eff. 1-1-96.)