(310 ILCS 5/38) (from Ch. 67 1/2, par. 188)
Sec. 38. The acquisition by eminent domain of real property or any interest
therein by a housing corporation shall be in the manner provided for the
exercise of the right of eminent
domain under the Eminent Domain Act.
Such acquisition by eminent domain shall be limited to the interests,
rights or estates, the character of which is specified in the notice of
hearing under Section 26, and to the areas of projects authorized in
accordance with Section 26 of this Act; and it may be exercised only by the
housing corporation authorized to acquire and construct such project.
The power of eminent domain shall not be exercised by a housing
corporation except with specific authorization of such action by the
Illinois Housing Development Authority following the acquirement either by
purchase or by duly authenticated option to purchase by such corporation of
at least one-half of the net land area needed for such housing project.
Upon the filing of any petition of a housing corporation
in the exercise
of the power of eminent domain conferred by this Act, the court shall
require a bond, with sufficient surety, in such an amount as the court
shall determine, conditioned for the payment by the petitioner of all
costs, expenses and reasonable attorney's fees paid or incurred by the
defendant or defendants in case the petitioner shall dismiss its petition
before the entry of an order by the court authorizing the
petitioner to
enter upon and use the property or in case the petitioner
shall fail to
make payment of full compensation within the time named in such order.
(Source: P.A. 94-1055, eff. 1-1-07.)
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