65 ILCS 5/11-74.3-3
2021 Illinois Compiled Statutes|Chapter 65 - MUNICIPALITIES|65 ILCS 5/ - Illinois Municipal Code.|Article 11 - Corporate Powers and Functions

 (from Ch. 24, par. 11-74.3-3)Sec. 11-74.3-3. Powers of municipalities. In addition to the powers a municipality may now have, a municipality shall have the following  powers:(1) To make and enter into all contracts necessary or     incidental to the implementation and furtherance of a business district plan.  A contract by and between the municipality and any developer or other nongovernmental person to pay or reimburse said developer or other nongovernmental person for business district project costs incurred or to be incurred by said developer or other nongovernmental person shall not be deemed an economic incentive agreement under Section 8-11-20, notwithstanding the fact that such contract provides for the sharing, rebate, or payment of retailers' occupation taxes or service occupation taxes (including, without limitation, taxes imposed pursuant to subsection (10)) the municipality receives from the development or redevelopment of properties in the business district.  Contracts entered into pursuant to this subsection shall be binding upon successor corporate authorities of the municipality and any party to such contract may seek to enforce and compel performance of the contract by civil action, mandamus, injunction, or other proceeding.(2) Within a business district, to acquire by     purchase, donation, or lease, and to own, convey, lease, mortgage, or dispose of land and other real or personal property or rights or interests therein; and to grant or acquire licenses, easements, and options with respect thereto, all in the manner and at such price authorized by law.  No conveyance, lease, mortgage, disposition of land or other property acquired by the municipality, or agreement relating to the development of property, shall be made or executed except pursuant to prior official action of the municipality.  No conveyance, lease, mortgage, or other disposition of land owned by the municipality, and no agreement relating to the development of property, within a business district shall be made without making public disclosure of the terms and disposition of all bids and proposals submitted to the municipality in connection therewith.(2.5) To acquire property by eminent domain in     accordance with the Eminent Domain Act.(3) To clear any area within a business district by     demolition or removal of any existing buildings, structures, fixtures, utilities, or improvements, and to clear and grade land.(4) To install, repair, construct, reconstruct, or     relocate public streets, public utilities, and other public site improvements within or without a business district which are essential to the preparation of a business district for use in accordance with a business district plan.(5) To renovate, rehabilitate, reconstruct, relocate,     repair, or remodel any existing buildings, structures, works, utilities, or fixtures within any business district.(6) To construct public improvements, including but     not limited to buildings, structures, works, utilities, or fixtures within any business district.(7) To fix, charge, and collect fees, rents, and     charges for the use of any building, facility, or property or any portion thereof owned or leased by the municipality within a business district.(8) To pay or cause to be paid business district     project costs.  Any payments to be made by the municipality to developers or other nongovernmental persons for business district project costs incurred by such developer or other nongovernmental person shall be made only pursuant to the prior official action of the municipality evidencing an intent to pay or cause to be paid such business district project costs.  A municipality is not required to obtain any right, title, or interest in any real or personal property in order to pay business district project costs associated with such property.  The municipality shall adopt such accounting procedures as shall be necessary to determine that such business district project costs are properly paid.(8.5) Utilize up to 1% of the revenue from a business     district  retailers' occupation tax and service occupation tax imposed under paragraph (10) and a hotel operators' occupation tax under paragraph (11) of Section 11-74.3-3 in connection with one business district for eligible costs in another business district that is:(A) contiguous to the business district from         which the revenues are received;(B) separated only by a public right of way from         the business district from which the revenues are received; or(C) separated only by forest preserve property         from the business district from which the revenues are received if the closest boundaries of the business districts that are separated by the forest preserve property are less than one mile apart.(9) To apply for and accept grants, guarantees,     donations of property or labor or any other thing of value for use in connection with a business district project.(10) If the municipality has by ordinance found and     determined that the business district is a blighted area under this Law, to impose a retailers' occupation tax and a service occupation tax in the business district for the planning, execution, and implementation of business district plans and to pay for business district project costs as set forth in the business district plan approved by the municipality.(11) If the municipality has by ordinance found and     determined that the business district is a blighted area under this Law, to impose a hotel operators' occupation tax in the business district for the planning, execution, and implementation of business district plans and to pay for the business district project costs as set forth in the business district plan approved by the municipality.(Source: P.A. 99-452, eff. 1-1-16.)