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Public Act 91-0900

SB1451 Enrolled                                LRB9110178MWgc

    AN ACT to amend the Illinois Municipal Code  by  changing
Sections 8-8-3.5, 11-74.4-5, and 11-74.6-22.

    Be it  enacted  by  the  People  of  the  State  of  Illinois,
represented in the General Assembly:

    Section  5.  The  Illinois  Municipal  Code is amended by
changing Sections 8-8-3.5,  11-74.4-5,  and  11-74.6-22    as
follows:

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

    (65 ILCS 5/11-74.6-22)
    Sec.  11-74.6-22.  Adoption  of  ordinance; requirements;
changes.
    (a)  Before  adoption  of  an  ordinance  proposing   the
designation   of   a   redevelopment   planning   area  or  a
redevelopment  project  area,  or  both,   or   approving   a
redevelopment plan or redevelopment project, the municipality
or  commission  designated  pursuant  to  subsection  (l)  of
Section  11-74.6-15  shall  fix  by ordinance or resolution a
time and place for public hearing. Prior to the  adoption  of
the  ordinance  or resolution establishing the time and place
for the public hearing, the municipality shall make available
for public inspection a redevelopment plan or a  report  that
provides  in sufficient detail, the basis for the eligibility
of the redevelopment project area.  The report along with the
name of a person to contact for further information shall  be
sent to the affected taxing district by certified mail within
a  reasonable time following the adoption of the ordinance or
resolution establishing the time and  place  for  the  public
hearing.
    At  the  public hearing any interested person or affected
taxing district may file with  the  municipal  clerk  written
objections  to  the  ordinance and may be heard orally on any
issues that are the subject of the hearing.  The municipality
shall hear and determine all alternate proposals or bids  for
any proposed conveyance, lease, mortgage or other disposition
of  land  and  all protests and objections at the hearing and
the hearing may be adjourned to another date without  further
notice  other  than  a  motion to be entered upon the minutes
fixing the time and place of the later hearing. At the public
hearing  or  at  any  time  prior  to  the  adoption  by  the
municipality of an ordinance approving a redevelopment  plan,
the  municipality may make changes in the redevelopment plan.
Changes which (1) add additional parcels of property  to  the
proposed redevelopment project area, (2) substantially affect
the  general land uses proposed in the redevelopment plan, or
(3) substantially change the nature of or extend the life  of
the  redevelopment  project  shall  be  made  only  after the
municipality gives notice, convenes a joint review board, and
conducts a public hearing  pursuant  to  the  procedures  set
forth  in  this  Section  and in Section 11-74.6-25.  Changes
which do not (1) add additional parcels of  property  to  the
proposed redevelopment project area, (2) substantially affect
the  general land uses proposed in the redevelopment plan, or
(3) substantially change the nature of or extend the life  of
the   redevelopment  project  may  be  made  without  further
hearing, provided that the municipality shall give notice  of
any such changes by mail to each affected taxing district and
by  publication  in a newspaper of general circulation within
the affected taxing district.  Such notice  by  mail  and  by
publication shall each occur not later than 10 days following
the adoption by ordinance of such changes.
    (b)  Before   adoption  of  an  ordinance  proposing  the
designation  of  a   redevelopment   planning   area   or   a
redevelopment   project   area,  or  both,  or  amending  the
boundaries of  an  existing  redevelopment  project  area  or
redevelopment  planning area, or both, the municipality shall
convene a joint review board to consider the  proposal.   The
board  shall  consist  of  a  representative selected by each
taxing district that has  authority  to  levy  real  property
taxes  on  the  property  within  the  proposed redevelopment
project area and that has at least 5% of its total  equalized
assessed  value  located  within  the  proposed redevelopment
project area, a representative selected by  the  municipality
and  a  public  member.   The  public  member and the board's
chairperson shall be selected by a majority  of  other  board
members.
    All  board members shall be appointed and the first board
meeting held within 14  days  following  the  notice  by  the
municipality  to  all  the  taxing  districts  as required by
subsection (c) of Section 11-74.6-25.  The notice shall  also
advise  the  taxing  bodies  represented  on the joint review
board of the time and place  of  the  first  meeting  of  the
board.   Additional  meetings of the board shall be held upon
the  call  of  any  2  members.   The  municipality   seeking
designation  of  the  redevelopment  project area may provide
administrative support to the board.
    The  board  shall  review  the  public  record,  planning
documents and proposed ordinances approving the redevelopment
plan and project to be adopted by the municipality.  As  part
of  its deliberations, the board may hold additional hearings
on the proposal. A board's recommendation, if any, shall be a
written recommendation adopted by  a  majority  vote  of  the
board  and submitted to the municipality within 30 days after
the board convenes. A board's recommendation shall be binding
upon the municipality.  Failure of the board  to  submit  its
recommendation  on a timely basis shall not be cause to delay
the public hearing or the process of establishing or amending
the redevelopment project area. The board's recommendation on
the proposal shall be based  upon  the  area  satisfying  the
applicable eligibility criteria defined in Section 11-74.6-10
and  whether  there is a basis for the municipal findings set
forth in the redevelopment plan as required by this  Act.  If
the board does not file a recommendation it shall be presumed
that  the board has found that the redevelopment project area
satisfies the eligibility criteria.
    (c)  After a municipality has  by  ordinance  approved  a
redevelopment  plan  and  designated a redevelopment planning
area or a redevelopment project area, or both, the  plan  may
be  amended  and  additional  properties  may be added to the
redevelopment  project  area   only   as   herein   provided.
Amendments  which  (1)  add additional parcels of property to
the proposed redevelopment project  area,  (2)  substantially
affect  the  general  land uses proposed in the redevelopment
plan,  (3)   substantially   change   the   nature   of   the
redevelopment  project,  (4)  increase  the  total  estimated
redevelopment project costs set out in the redevelopment plan
by  more than 5% after adjustment for inflation from the date
the plan was adopted, or  (5)  add  additional  redevelopment
project  costs  to the itemized list of redevelopment project
costs set out in the redevelopment plan shall  be  made  only
after  the municipality gives notice, convenes a joint review
board,  and  conducts  a  public  hearing  pursuant  to   the
procedures   set   forth  in  this  Section  and  in  Section
11-74.6-25.  Changes which do not (1) add additional  parcels
of  property  to the proposed redevelopment project area, (2)
substantially affect the general land uses  proposed  in  the
redevelopment  plan,  (3)  substantially change the nature of
the redevelopment project, (4) increase the  total  estimated
redevelopment  project cost set out in the redevelopment plan
by more than 5% after adjustment for inflation from the  date
the  plan  was  adopted,  or (5) add additional redevelopment
project costs to the itemized list of  redevelopment  project
costs   set out in the redevelopment plan may be made without
further hearing, provided that the  municipality  shall  give
notice  of  any  such changes by mail to each affected taxing
district  and  by  publication  in  a  newspaper  of  general
circulation within the affected taxing district.  Such notice
by mail and by publication shall each occur not later than 10
days following the adoption by ordinance of such changes.
    (d)  After the effective date of this amendatory  Act  of
the  91st  General  Assembly, a municipality shall submit the
following information for each redevelopment project area (i)
to  the  State  Comptroller  under  Section  8-8-3.5  of  the
Illinois Municipal Code  in  the  financial  report  required
under  Section  3  of  the Governmental Account Audit Act and
(ii) to all taxing districts  overlapping  the  redevelopment
project  area  no later than 180 days after the close of each
municipal fiscal year or as soon thereafter  as  the  audited
financial statements become available and, in any case, shall
be  submitted  before  the annual meeting of the joint review
board to each  of  the  taxing  districts  that  overlap  the
redevelopment project area:
         (1)  Any  amendments  to  the redevelopment plan, or
    the redevelopment project area.
         (1.5)  A list of  the  redevelopment  project  areas
    administered  by the municipality and, if applicable, the
    date each redevelopment project area  was  designated  or
    terminated by the municipality.
         (2)  Audited financial statements of the special tax
    allocation  fund  once  a cumulative total of $100,000 of
    tax increment revenues has been deposited in the fund.
         (3)  Certification of the Chief Executive Officer of
    the municipality that the municipality has complied  with
    all  of the requirements of this Act during the preceding
    fiscal year.
         (4)  An  opinion   of   legal   counsel   that   the
    municipality is in compliance with this Act.
         (5)  An  analysis of the special tax allocation fund
    which sets forth:
              (A)  the balance in the special tax  allocation
         fund at the beginning of the fiscal year;
              (B)  all  amounts  deposited in the special tax
         allocation fund by source;
              (C)  an itemized list of all expenditures  from
         the  special  tax  allocation  fund  by  category of
         permissible redevelopment project cost; and
              (D)  the balance in the special tax  allocation
         fund  at  the  end  of  the  fiscal year including a
         breakdown of that balance by source and a  breakdown
         of  that  balance  identifying  any  portion  of the
         balance that is  required,  pledged,  earmarked,  or
         otherwise  designated  for payment of or securing of
         obligations and  anticipated  redevelopment  project
         costs.  Any  portion of such ending balance that has
         not been identified or is not  identified  as  being
         required,    pledged,    earmarked,   or   otherwise
         designated for payment of or securing of obligations
         or anticipated redevelopment project costs shall  be
         designated  as  surplus  as  set  forth  in  Section
         11-74.6-30 hereof.
         (6)  A  description of all property purchased by the
    municipality  within  the  redevelopment   project   area
    including:
              (A)  Street address.
              (B)  Approximate   size   or   description   of
         property.
              (C)  Purchase price.
              (D)  Seller of property.
         (7)  A   statement   setting  forth  all  activities
    undertaken  in  furtherance  of  the  objectives  of  the
    redevelopment plan, including:
              (A)  Any project implemented in  the  preceding
         fiscal year.
              (B)  A   description   of   the   redevelopment
         activities undertaken.
              (C)  A  description  of  any agreements entered
         into  by  the  municipality  with  regard   to   the
         disposition  or redevelopment of any property within
         the redevelopment project area.
              (D)  Additional information on the use  of  all
         funds  received  under this Division and steps taken
         by the municipality to achieve the objectives of the
         redevelopment plan.
              (E)  Information regarding contracts  that  the
         municipality's tax increment advisors or consultants
         have entered into with entities or persons that have
         received, or are receiving, payments financed by tax
         increment    revenues    produced    by   the   same
         redevelopment project area.
              (F)  Any reports submitted to the  municipality
         by the joint review board.
              (G)  A  review  of  public  and,  to the extent
         possible, private investment actually undertaken  to
         date after the effective date of this amendatory Act
         of  the  91st  General  Assembly and estimated to be
         undertaken during the following year.   This  review
         shall,  on a project-by-project basis, set forth the
         estimated amounts of public and  private  investment
         incurred after the effective date of this amendatory
         Act  of  the  91st  General Assembly and provide the
         ratio of private investment to public investment  to
         the  date  of  the  report  and  as estimated to the
         completion of the redevelopment project.
         (8)  With regard to any obligations  issued  by  the
    municipality:
              (A)  copies of any official statements; and
              (B)  an  analysis prepared by financial advisor
         or underwriter setting forth: (i) nature and term of
         obligation;  and   (ii)   projected   debt   service
         including required reserves and debt coverage.
         (9)  For  special  tax  allocation  funds  that have
    received cumulative deposits of incremental tax  revenues
    of  $100,000  or more, a certified audit report reviewing
    compliance with this  Act  performed  by  an  independent
    public accountant certified and licensed by the authority
    of  the  State of Illinois.  The financial portion of the
    audit must be conducted in accordance with Standards  for
    Audits    of    Governmental   Organizations,   Programs,
    Activities, and  Functions  adopted  by  the  Comptroller
    General  of  the United States (1981), as amended, or the
    standards specified by  Section  8-8-5  of  the  Illinois
    Municipal  Auditing  Law  of the Illinois Municipal Code.
    The  audit  report  shall  contain  a  letter  from   the
    independent   certified   public   accountant  indicating
    compliance or  noncompliance  with  the  requirements  of
    subsection (o) of Section 11-74.6-10.
    (e)  The  joint review board shall meet annually 180 days
after the close of the municipal fiscal year or  as  soon  as
the  redevelopment project audit for that fiscal year becomes
available to review  the  effectiveness  and  status  of  the
redevelopment project area up to that date.
(Source: P.A. 91-474, eff. 11-1-99.)

    Section  99.  Effective date.  This Act takes effect upon
becoming law.

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