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91_HB3063
LRB9110103STsb
1 AN ACT concerning neighborhood redevelopment
2 corporations.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Neighborhood Redevelopment Corporation
6 Law is amended by changing Section 6 as follows:
7 (315 ILCS 20/6) (from Ch. 67 1/2, par. 256)
8 Sec. 6. Neighborhood redevelopment corporations
9 authorized-Supervision by redevelopment commission.
10 Neighborhood Redevelopment Corporations may be organized
11 in the manner provided by this Act to acquire Real Property;,
12 to alter, renovate, demolish or rebuild existing improvements
13 thereon;, and to construct, maintain, and operate a
14 Development therein, when authorized by and subject to the
15 supervision of the Redevelopment Commission of the city,
16 village or incorporated town wherein the Development Area is
17 located., These Corporations may be organized for the
18 purpose of effecting the Redevelopment of Slum and Blight or
19 Conservation Areas in the manner provided by this Act;
20 provided, that the business and conduct of each Neighborhood
21 Redevelopment Corporation, until the Redevelopment of its
22 Development Area has been achieved, shall be subject, as
23 hereinafter provided, to the supervision and regulation of
24 the Redevelopment Commission of the city, village or
25 incorporated town wherein its Development Area is located.
26 (Source: Laws 1953, p. 1138.)