Illinois Compiled Statutes 310 ILCS 60 — Federally Assisted Housing Preservation Act.

Short title

Short title. This Act may be cited as the Federally Assisted Housing Preservation Act. (Source: P.A. 93-727, eff. 7-14-04.)

It is the purpose of this Act to preserve and retain to the maximum extent possible, as housing affordable to low and moderate income families or persons, those privately owned dwelling units that were provided for such purposes with federal assistance, to protect the tenants of these units from displacement resulting…

Definitions

Definitions. As used in this Act: (a) "IHDA" means the Illinois Housing Development Authority. (b) (Blank). (c) (Blank). (d) "Owner" means the person, partnership, or corporation that holds title to an assisted housing development. (e) "Assisted housing" or "assisted housing development" means a rental housing developm…

Notice of intent to sell

Notice of intent to sell. (a) An owner may not sell or otherwise dispose of assisted housing, complete prepayment, or complete a termination unless, not less than 12 months before the prepayment, termination, sale, or disposal, the owner submits to all tenants of the assisted housing and to all affected public entities…

Offer for sale to Tenant Association

Offer for sale to Tenant Association. Within 60 days after the Tenant Association has complied with the requirements of Section 4, the owner shall, before selling, leasing, completing prepayment, completing termination, or otherwise disposing of the property, provide to the Tenant Association a bona fide offer for sale…

Notice of intent to purchase

Notice of intent to purchase. (a) The Tenant Association shall notify the owner in writing, within 90 days after the receipt of the bona fide offer of sale, of its intent to purchase the assisted housing. (b) The owner shall, after receiving a notice pursuant to subsection (a), comply with any reasonable request to mak…

Bona fide offer to purchase; contract

Bona fide offer to purchase; contract. (a) The Tenant Association shall, within 90 days after it notifies the owner of its intent to purchase, provide the owner with a bona fide offer to purchase evidenced by a purchase contract reflecting a sales price and terms agreed to by the parties or the sales price and terms de…

The provisions of this Act shall not apply to any of the following: a government taking by eminent domain or negotiated purchase; a forced sale pursuant to a foreclosure; a transfer by gift, devise or operation of law; or an owner's sale or other disposition of assisted housing in a manner pursuant to which the propert…

If the Tenant Association fails to provide notice to the owner pursuant to Sections 4 or 6 or fails to meet the requirements of Section 7, the owner is released from any and all requirements and obligations under this Act. (Source: P.A. 86-810.)

Any notice provided for in this Act shall be deemed given when a written notice is delivered in person or mailed by certified or registered mail, return receipt requested, to the party to whom notice is given. (Source: P.A. 86-810.)

Civil action against owner

Civil action against owner. The Tenant Association, or one or more tenants in the assisted housing, may bring a civil action against an owner who has violated this Act. An owner found to have violated any provision of this Act shall, in addition to any other damages, pay a civil penalty to each tenant in the assisted h…