315 ILCS 30/22
2021 Illinois Compiled Statutes|Chapter 315 - URBAN PROBLEMS|315 ILCS 30/ - Urban Renewal Consolidation Act of 1961.|Part II - Conservation Areas

 (from Ch. 67 1/2, par. 91.122)Sec. 22. The Department of a municipality shall have the power to acquire  by purchase, condemnation or otherwise any improved or unimproved real  property the acquisition of which is necessary or appropriate for the  implementation of a conservation plan for a conservation area as defined  herein; to remove or demolish substandard or other buildings and structures  from the property so acquired; to hold, improve, mortgage and manage such  properties; and to sell, lease, or exchange such properties,  provided that  contracts for repair, improvement or rehabilitation of existing  improvements as may be required by the conservation plan to be done by the  Department involving in excess of $1,000.00 shall be let by free and  competitive bidding to the lowest responsible bidder upon such bond and  subject to such regulations as may be set by the Department, and provided  further that all new construction for occupancy and use other than by any  municipal corporation or subdivision thereof shall be on land privately  owned. The acquisition, use or disposition of any real property in  pursuance of this section must conform to a conservation plan developed in  the manner hereinafter set forth. In case of the sale or lease of any real  property acquired under the provisions of this Act such buyer or lessee  must as a condition of sale or lease, agree to improve and use such  property according to the conservation plan, and such agreement may be made  a covenant running with the land and on order of the governing body such  agreement shall be made a covenant running with the land. The Department  shall by public notice by publication once each week for 2 consecutive  weeks in a newspaper having general circulation in the municipality prior  to the execution of any contract to sell, lease or otherwise transfer real  property and prior to the delivery of any instrument of conveyance with  respect thereto, invite proposals from and make available all pertinent  information to redevelopers or any person interested in undertaking to  redevelop or rehabilitate a conservation area, or any part thereof,  provided that, in municipalities in which no newspaper is published,  publication may be made by posting a notice in 3 prominent places within  the municipality. Such notice shall contain a description of the  conservation area, the details of the conservation plan relating to the  property which the purchaser shall undertake in writing to carry out and  such undertakings as the Department may deem necessary to obligate the  purchaser, his  successors and assigns (1) to use the property for the  purposes designated in the conservation plan, (2) to commence and complete  the improvement, repair, rehabilitation, or construction of the  improvements within the periods of time which the Department fixes as  reasonable and (3) to comply with such other conditions as are necessary to  carry out the purposes of the Act. The Department may negotiate with any  persons for proposals for the purchase, lease or other transfer of any real  property acquired pursuant to this Act and shall consider all redevelopment  and rehabilitation proposals submitted to it and the financial and legal  ability of the persons making such proposals to carry them out. The  Department, as agent for the municipality, at a public meeting, notice of  which shall have been published in a newspaper of general circulation  within the municipality at least 15 but not more than 30 days prior to such  meeting, may accept such proposals as it deems to be in the public interest  and in furtherance of the purposes of this Act; provided that, all sales or  leases of real property shall be made at not less than fair use value.Condemnation proceedings instituted hereunder shall be brought by and in  the name of the municipality and shall be in all respects in the manner  provided for the exercise of the right of  eminent domain under the Eminent Domain Act.No property shall be held for more than 5 years, after which period such  property shall be sold to the highest bidder at public sale. The Department  may employ competent private real estate management firms to manage such  properties as may be acquired, or the Department may manage such  properties.       (Source: P.A. 94-1055, eff. 1-1-07.)