Bill Text: IL HB4427 | 2019-2020 | 101st General Assembly | Introduced

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Bill Title: Amends the Illinois Municipal Code. Provides that a municipality reporting Tax Increment Financing information shall additionally report to the Comptroller: (1) the number of jobs, aspirational or otherwise, if any, projected to be created for each redevelopment project area at the time of approval of the redevelopment agreement; (2) the number of jobs, if any, created as a result of the development under the same guidelines and assumptions as was used for the projections used at the time of approval of the redevelopment agreement to date for that reporting period; (3) the amount of increment projected to be created at the time of approval of the redevelopment agreement for each redevelopment project area; (4) the amount of increment created as a result of the development to date for that reporting period using the same assumptions as was used for the projections used at the time of approval of the redevelopment agreement; and (5) the stated rate of return identified by the developer to the municipality for each redevelopment project area, if any. In provisions requiring a municipality to report an analysis prepared by a financial advisor or underwriter, provides that the advisor or underwriter shall be chosen by the municipality and that analysis shall additionally include actual debt service.

Spectrum: Slight Partisan Bill (Democrat 3-1)

Status: (Introduced - Dead) 2020-06-23 - Rule 19(b) / Re-referred to Rules Committee [HB4427 Detail]

Download: Illinois-2019-HB4427-Introduced.html

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101ST GENERAL ASSEMBLY State of Illinois 2019 and 2020 HB4427 Introduced , by Rep. Jonathan Carroll SYNOPSIS AS INTRODUCED:
65 ILCS 5/8-8-3.5
65 ILCS 5/11-74.4-5 from Ch. 24, par. 11-74.4-5
65 ILCS 5/11-74.6-22
Amends the Illinois Municipal Code. Provides that a municipality reporting Tax Increment Financing information shall additionally report to the Comptroller: (1) the number of jobs, aspirational or otherwise, if any, projected to be created for each redevelopment project area at the time of approval of the redevelopment agreement; (2) the number of jobs, if any, created as a result of the development under the same guidelines and assumptions as was used for the projections used at the time of approval of the redevelopment agreement to date for that reporting period; (3) the amount of increment projected to be created at the time of approval of the redevelopment agreement for each redevelopment project area; (4) the amount of increment created as a result of the development to date for that reporting period using the same assumptions as was used for the projections used at the time of approval of the redevelopment agreement; and (5) the stated rate of return identified by the developer to the municipality for each redevelopment project area, if any. In provisions requiring a municipality to report an analysis prepared by financial advisor or underwriter, provides that the advisor or underwriter shall be chosen by the municipality and that analysis shall additionally include actual debt service.
LRB101 16354 AWJ 65732 b
A BILL FOR
HB4427 LRB101 16354 AWJ 65732 b
AN ACT concerning local government.
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 paragraphs paragraph (7) and (8) 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 paragraphs
paragraph (7) and (8) of subsection (d) of Section 11-74.6-22
of the Industrial Jobs Recovery Law that facilitates consistent
reporting among the reporting municipalities. In addition to

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information required to be reported under this Section,
reporting municipalities shall also report to the Comptroller
annually in a manner and format prescribed by the Comptroller:
(1) the number of jobs, aspirational or otherwise, if any,
projected to be created for each redevelopment project area at
the time of approval of the redevelopment agreement; (2) the
number of jobs, if any, created as a result of the development
under the same guidelines and assumptions as was used for the
projections used at the time of approval of the redevelopment
agreement to date for that reporting period; (3) the amount of
increment projected to be created at the time of approval of
the redevelopment agreement for each redevelopment project
area; (4) the amount of increment created as a result of the
development to date for that reporting period using the same
assumptions as was used for the projections used at the time of
approval of the redevelopment agreement; and (5) the stated
rate of return identified by the developer to the municipality
for each redevelopment project area, if any. Stated rates of
returns required to be reported in item (5) shall be
independently verified by a third party chosen by the
municipality. 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. A Tax Increment
Financing Report must be filed electronically with the

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Comptroller within 180 days after the close of the municipal
fiscal year or as soon thereafter as the audit for the
redevelopment project area for that fiscal year becomes
available. If the Tax Increment Finance administrator provides
the Comptroller's office with sufficient evidence that the
report is in the process of being completed by an auditor, the
Comptroller may grant an extension. If the required report is
not filed within the time extended by the Comptroller, the
Comptroller shall notify the corporate authorities of that
municipality that the audit report is past due. The Comptroller
may charge a municipality a fee of $5 per day for the first 15
days past due, $10 per day for 16 through 30 days past due, $15
per day for 31 through 45 days past due, and $20 per day for the
46th day and every day thereafter. These amounts may be reduced
at the Comptroller's discretion. In the event the required
audit report is not filed within 60 days of such notice, the
Comptroller shall cause such audit to be made by an auditor or
auditors. The Comptroller may decline to order an audit and the
preparation of an audit report if an initial examination of the
books and records of the municipality indicates that books and
records of the municipality are inadequate or unavailable to
support the preparation of the audit report or the supplemental
report due to the passage of time or the occurrence of a
natural disaster. All fees collected pursuant to this Section
shall be deposited into the Comptroller's Administrative Fund.
In the event the Comptroller causes an audit to be made in

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accordance with the requirements of this Section, the
municipality shall pay to the Comptroller reasonable
compensation and expenses to reimburse her for the cost of
preparing or completing such report. Moneys paid to the
Comptroller pursuant to the preceding sentence shall be
deposited into the Comptroller's Audit Expense Revolving Fund.
(Source: P.A. 101-419, eff. 1-1-20.)
(65 ILCS 5/11-74.4-5) (from Ch. 24, par. 11-74.4-5)
Sec. 11-74.4-5. Public hearing; joint review board.
(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

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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. At least 10 days 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

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place. The municipality shall have adopted reasonable rules to
implement this registration process under Section 11-74.4-4.2.
The municipality shall provide notice of the availability of
the redevelopment plan and eligibility report, including how to
obtain this information, by mail within a reasonable time after
the adoption of the ordinance or resolution, to all residential
addresses that, after a good faith effort, the municipality
determines are located outside the proposed redevelopment
project area and within 750 feet of the boundaries of the
proposed redevelopment project area. This requirement is
subject to the limitation that in a municipality with a
population of over 100,000, if the total number of residential
addresses outside the proposed redevelopment project area and
within 750 feet of the boundaries of the proposed redevelopment
project area exceeds 750, the municipality shall be required to
provide the notice to only the 750 residential addresses that,
after a good faith effort, the municipality determines are
outside the proposed redevelopment project area and closest to
the boundaries of the proposed redevelopment project area.
Notwithstanding the foregoing, notice given after August 7,
2001 (the effective date of Public Act 92-263) and before the
effective date of this amendatory Act of the 92nd General
Assembly to residential addresses within 750 feet of the
boundaries of a proposed redevelopment project area shall be
deemed to have been sufficiently given in compliance with this
Act if given only to residents outside the boundaries of the

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proposed redevelopment project area. The notice shall also be
provided by the municipality, regardless of its population, to
those organizations and residents 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 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 inhabited residential units to be
displaced from the redevelopment project area, as measured from
the time of creation of the redevelopment project area, to a
total of more than 10, shall be made only after the
municipality gives notice, convenes a joint review board, and

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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 inhabited
residential units to be displaced from the redevelopment
project area, as measured from the time of creation of the
redevelopment project area, to a total of more than 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

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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

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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 shall be held at least 14 days but not more than 28
days after the mailing of notice by the municipality to the
taxing districts as required by Section 11-74.4-6(c).
Notwithstanding the preceding sentence, a municipality that
adopted either a public hearing resolution or a feasibility
resolution between July 1, 1999 and July 1, 2000 that called
for the meeting of the joint review board within 14 days of
notice of public hearing to affected taxing districts is deemed
to be in compliance with the notice, meeting, and public
hearing provisions of the Act. 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

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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

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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 led to the
rejection of the plan or amendment.
Notwithstanding the resubmission set forth above, the
municipality may commence the scheduled public hearing and
either adjourn the public hearing or continue the public
hearing until a date certain. Prior to continuing any public
hearing to a date certain, the municipality shall announce
during the public hearing the time, date, and location for the
reconvening of the public hearing. Any changes to the
redevelopment plan necessary to satisfy the issues set forth in
the joint review board report shall be the subject of a public

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hearing before the hearing is adjourned if the changes would
(1) substantially affect the general land uses proposed in the
redevelopment plan, (2) substantially change the nature of or
extend the life of the redevelopment project, or (3) increase
the number of inhabited residential units to be displaced from
the redevelopment project area, as measured from the time of
creation of the redevelopment project area, to a total of more
than 10. Changes to the redevelopment plan necessary to satisfy
the issues set forth in the joint review board report shall not
require any further notice or convening of a joint review board
meeting, except that any changes to the redevelopment plan that
would add additional parcels of property to the proposed
redevelopment project area shall be subject to the notice,
public hearing, and joint review board meeting requirements
established for such changes by subsection (a) of Section
11-74.4-5.
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

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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
inhabited residential units to be displaced from the
redevelopment project area, as measured from the time of
creation of the redevelopment project area, to a total of more
than 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

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additional redevelopment project costs to the itemized list of
redevelopment project costs set out in the redevelopment plan,
or (6) increase the number of inhabited residential units to be
displaced from the redevelopment project area, as measured from
the time of creation of the redevelopment project area, to a
total of more than 10, may be made without further public
hearing and related notices and procedures including the
convening of a joint review board as set forth in Section
11-74.4-6 of this Act, 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 in an
electronic format the following information for each
redevelopment project area (i) to the State Comptroller under
Section 8-8-3.5 of the Illinois Municipal Code, subject to any
extensions or exemptions provided at the Comptroller's
discretion under that Section, 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

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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

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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

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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

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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, chosen by the municipality, setting
forth: (i) nature and term of obligation; and (ii)
projected debt service including required reserves and
debt coverage; and (iii) actual debt service.
(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

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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.
(10) A list of all intergovernmental agreements in
effect during the fiscal year to which the municipality is
a party and an accounting of any moneys transferred or
received by the municipality during that fiscal year
pursuant to those intergovernmental agreements.
(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

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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.
(h) On and after the effective date of this amendatory Act
of the 96th General Assembly, the State Comptroller must post
on the State Comptroller's official website the information
submitted by a municipality pursuant to subsection (d) of this

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Section. The information must be posted no later than 45 days
after the State Comptroller receives the information from the
municipality. The State Comptroller must also post a list of
the municipalities not in compliance with the reporting
requirements set forth in subsection (d) of this Section.
(i) No later than 10 years after the corporate authorities
of a municipality adopt an ordinance to establish a
redevelopment project area, the municipality must compile a
status report concerning the redevelopment project area. The
status report must detail without limitation the following: (i)
the amount of revenue generated within the redevelopment
project area, (ii) any expenditures made by the municipality
for the redevelopment project area including without
limitation expenditures from the special tax allocation fund,
(iii) the status of planned activities, goals, and objectives
set forth in the redevelopment plan including details on new or
planned construction within the redevelopment project area,
(iv) the amount of private and public investment within the
redevelopment project area, and (v) any other relevant
evaluation or performance data. Within 30 days after the
municipality compiles the status report, the municipality must
hold at least one public hearing concerning the report. The
municipality must provide 20 days' public notice of the
hearing.
(j) Beginning in fiscal year 2011 and in each fiscal year
thereafter, a municipality must detail in its annual budget (i)

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the revenues generated from redevelopment project areas by
source and (ii) the expenditures made by the municipality for
redevelopment project areas.
(Source: P.A. 98-922, eff. 8-15-14.)
(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

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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 once in a newspaper of general

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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

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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

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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 once in a
newspaper of general circulation within the affected taxing
district. Such notice by mail and by publication shall each

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occur not later than 10 days following the adoption by
ordinance of such changes.
Notwithstanding Section 11-74.6-50, the redevelopment
project area established by an ordinance adopted in its final
form on December 19, 2011 by the City of Loves Park may be
expanded by the adoption of an ordinance to that effect without
further hearing or notice to include land that (i) is at least
in part contiguous to the existing redevelopment project area,
(ii) does not exceed approximately 16.56 acres, (iii) at the
time of the establishment of the redevelopment project area
would have been otherwise eligible for inclusion in the
redevelopment project area, and (iv) is zoned so as to comply
with this Act prior to its inclusion in the redevelopment
project area.
(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, subject to any extensions or exemptions
provided at the Comptroller's discretion under that Section,
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

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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

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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.

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(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

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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, chosen by the municipality, setting
forth: (i) nature and term of obligation; and (ii)
projected debt service including required reserves and
debt coverage; and (iii) actual debt service.
(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

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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. 98-922, eff. 8-15-14; 99-792, eff. 8-12-16.)