Illinois Compiled Statutes 315 ILCS 10/3 – Definitions
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The following terms, wherever used or referred to in this Act, shall have the following respective meanings, unless, in any case, a different meaning clearly appears from the context:
(a) “Private interest” and “developer” includes any person, firm, association, trust, or business corporation.
(b) “Blighted vacant area” means any undeveloped contiguous urban area of not less than one acre where there exists diversity of ownership of lots and tax and special assessment delinquencies exceeding the fair cash market value of the land within such area.
(c) “Department” means the Department of Commerce and Economic Opportunity.
(d) “Municipality” and “corporate authorities of the municipality” shall have the respective meanings assigned to these terms in § 1-1-2 of the Illinois Municipal Code. “Corporate authorities of the county” shall refer to the governing body of the county as specified in § 5-1004 of the Counties Code.
(a) “Private interest” and “developer” includes any person, firm, association, trust, or business corporation.
Terms Used In Illinois Compiled Statutes 315 ILCS 10/3
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
(b) “Blighted vacant area” means any undeveloped contiguous urban area of not less than one acre where there exists diversity of ownership of lots and tax and special assessment delinquencies exceeding the fair cash market value of the land within such area.
(c) “Department” means the Department of Commerce and Economic Opportunity.
(d) “Municipality” and “corporate authorities of the municipality” shall have the respective meanings assigned to these terms in § 1-1-2 of the Illinois Municipal Code. “Corporate authorities of the county” shall refer to the governing body of the county as specified in § 5-1004 of the Counties Code.