Illinois § 40

§ 40.

Establishment. (a) Within 30 days after the public hearing to consider establishment of a business improvement district, the party who filed the district plan with the clerk may modify the district plan, including to satisfy any applicable legal requirements or remedy any deficiencies, prior to the adoption of an ordinance establishing a business improvement district. Any modification to the district plan that changes the source or sources of financing, including the method and basis of levying the district charge or an increase or reduction in the maximum annual amount or maximum total amount of the district charge against one or more properties within the business improvement district, the procedures for renewal, the boundaries of a business improvement district, the business improvement district's board of director's governance structure, the activities and improvements to be provided within the business improvement district, or a change to the filing party must be approved by a written petition that conforms to the petition signature requirements set forth in Section 75. If the district plan is so modified, the governing body shall call an additional public hearing to hear and consider objections to the modified district plan prior to the adoption of an ordinance establishing a business improvement district. (b) If, following all required public hearings, the governing body decides to establish a business improvement district, the governing body shall adopt an ordinance establishing the business improvement district that shall include, but is not limited to, all the following information: (1) A detailed description of: the boundaries of the proposed business improvement district, which may be made by reference to a plan or map; the proposed activities and improvements, and an estimated amount of annual funding required; the method of assessment; the maximum amount of annual district charges; and the total amount of the proposed district charges for the initial term of the business improvement district. The descriptions shall be sufficient if the descriptions enable a property owner to generally identify the location and extent of the proposed business improvement district, the nature and extent of the activities and improvements, and the maximum annual district charge that the property owner would pay. (2) The time and place where any public hearing concerning the establishment of the business improvement district was held. (3) A statement that the activities and improvements to be conferred upon property owners will be funded by the levy of district charges. (4) A finding that each item in the district plan satisfies all applicable legal requirements and that establishing the business improvement district is in the public interest. (5) The adoption of the district plan, as may be modified pursuant to subsection (a), including each item set forth in Section 15. (6) A statement identifying the entity that will be responsible for administering district charges, including the functions of billing, collecting, and enforcement, pursuant to Section 20. (7) Authorization for the municipality to remit district charges to the board of directors of a business improvement district for the provision of activities and improvement. (8) The deadline and manner for submitting the annual report required in Section 65. (c) The ordinance establishing the business improvement district may not create additional obligations, burdens, requirements, liabilities, or restrictions for the business improvement district, board of directors of a business improvement district, or, when applicable, district management association other than those that are expressly contemplated by the district plan. (Source: P.A. 103-646, eff. 7-1-24.)