(310 ILCS 5/25) (from Ch. 67 1/2, par. 175)
Sec. 25.
Consolidation; 2 or more projects.
The Illinois Housing
Development Authority may permit the consolidation of 2 or more
approved projects or the extension or
amendment of any approved project or the consolidation of any approved
project with a proposed project. In any of these events, the consolidated
project shall be treated as an original project and an application shall be
submitted as in the case of an original project and rents may be averaged
throughout the consolidated or extended project. The Illinois Housing
Development Authority may likewise permit any housing corporation to
organize and operate more than one project or to take over any project
heretofore approved by the Illinois Housing Development Authority and to
operate it independently of other projects of the corporation. The Illinois
Housing Development Authority may decline to permit more than one project
to be operated by the same housing corporation.
(Source: P.A. 91-357, eff. 7-29-99.)
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