(310 ILCS 5/2) (from Ch. 67 1/2, par. 152)
Sec. 2.
It is hereby declared that congested and unsanitary housing
conditions which exist in certain areas of the state in low-priced
dwellings are a menace to the health, safety, morals, welfare and
reasonable comfort of the citizens of the state. The correction of these
conditions in such areas being now otherwise impossible, it is essential
that provision be made to encourage the investment of funds at low interest
rates, the acquisition at fair prices of adequate parcels of land, the
gradual demolition of existing unsanitary and unsafe housing and the
construction of new housing facilities under public supervision, with
proper standards of sanitation and safety, and at a cost which will permit
monthly rentals or charges which wage-earners can afford to pay, and not in
excess of the rates hereinafter provided.
Therefore, there are created and authorized the agencies and
instrumentalities hereinafter prescribed, which are declared to be the
agencies and instrumentalities of the state for the purpose of attaining
the ends herein recited.
(Source: Laws 1933, p. 396.)
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