70 ILCS 3615/2.43

(70 ILCS 3615/2.43)

(This Section may contain text from a Public Act with a delayed effective date)

Sec. 2.43. Transit-supportive development.

(a) As used in this Section, "transit-supportive development" means a form of joint development that is recognized by the Federal Transit Administration and in which residential improvements, commercial improvements, and supporting infrastructure improvements are designed to facilitate access to and use of public transit.

(b) The Authority shall have power to acquire, construct, own, operate, or maintain for public service transit-supportive development in the metropolitan region and all the powers necessary or convenient to accomplish the purposes of this Section.

(c) The Authority shall have power to acquire by purchase, condemnation, lease, gift, or otherwise any property and rights useful for its transit-supportive development purposes; to sell, lease, transfer, or convey any property or rights when no longer useful; or to exchange the same for other property or rights that are useful for its purposes.

(d) In addition to other powers provided in this Act, the Authority shall have power to enter into contracts and agreements with governmental, not-for-profit, and for-profit entities for the development, construction, and operation of transit-supportive developments.

(e) The Authority shall have the continuing power to borrow money for (i) the purpose of acquiring, constructing, reconstructing, extending, or improving transit-supportive developments or any part of those developments and (ii) the purpose of acquiring property and equipment useful for the construction, reconstruction, extension, improvement, or operation of its transit-supportive developments or any part of those developments.

(f) The Authority may use the powers of condemnation under subsection (c) over property within the jurisdiction of a municipality only if the corporate authorities of the municipality having jurisdiction of the property approve of the use of those powers by ordinance or resolution. The Authority may use the powers of condemnation under subsection (c) over property that is not within the jurisdiction of a municipality only if the county board or the board of commissioners of the county having jurisdiction of the property approve of the use of the powers by ordinance or resolution.

(g) This Section does not exempt the Authority from complying with land use regulations and other local laws applicable to the property involved in a transit-supportive development and the development itself.

(Source: P.A. 104-457, eff. 6-1-26.)