(70 ILCS 516/20)
Sec. 20. Responsibilities of the Authority. It is the duty of the Authority to promote development within its territorial jurisdiction. The Authority shall use the powers conferred on it by this Act to assist in the planning, development, acquisition, construction and marketing of residential, industrial, commercial, or freight-oriented projects within its territorial jurisdiction.
(a) The Authority shall have the power to undertake
joint planning for property within its territorial jurisdiction that identifies and addresses its development, transportation, transit, zoning, workforce, and environmental priorities and objectives.
(b) The Authority shall have the power to assemble
and prepare parcels for development.
(c) The Authority shall have the power to oversee
environmental studies and remediation necessary to identify and remove any hazards or toxins that impede development.
(d) The Authority shall have the power to develop,
construct, and improve, either under its own direction or through collaboration with any approved applicant, or to acquire through purchase or otherwise any project, using for that purpose the proceeds derived from its sale of revenue bonds, notes, or other evidences of indebtedness or governmental loans or grants, and to hold title in the name of the Authority to those projects.
(e) The Authority shall have the power to market the
Riverdale Development to prospective developers and businesses.
(f) The Authority shall make its best effort to annex
parcels of unincorporated property that are subject to the jurisdiction of the Authority to a contiguous municipality named in subsection (c) of Section 15.
(g) The Authority shall maintain relations with local
residents, industries, businesses, nonprofit organizations, elected and appointed officials, other government and private entities as well as any other interested parties in the course of achieving its objectives and exercising its powers.
(Source: P.A. 94-1093, eff. 1-26-07.)
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Last modified: February 18, 2015