In 2008, the Illinois General Assembly adopted Public Act 95-0934, which amended the Illinois Municipal Code (65 ILCS 5/11-74.4-3) concerning the Tax Increment Allocation Redevelopment Act. The changes specify that the term "redevelopment project cost" does not include costs in a redevelopment project area if used to demolish, remove, or substantially modify a historic resource unless no prudent and feasible alternative exists. Exempts places or structures for which demolition, removal, or modification is subject to review by the preservation agency of a Certified Local Government designated as such by the National Park Service from the restrictions on qualifying as a redevelopment project cost. Effective 8/26/08.

 

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