Illinois Statutes Chapter 20. Executive Branch § 3501/815-20. Powers and Duties

(1) To acquire and possess property in a redevelopment area;

(2) To clear any such areas so acquired by demolition of existing structures and buildings and to make necessary improvements to the property essential to its reuse in conformity with a development plan; and

(3) To convey property for use in accordance with a development plan.

(1) The property is in a redevelopment area;

(2) Such acquisition or possession is necessary or reasonably required to retain existing enterprises or attract new enterprises and to promote sound economic growth and to carry out the purposes of Section 815-5 through 815-30 of this Act;

(3) The assembly of property is not unduly competitive with similar assemblies by private enterprise in the area or surrounding areas; and

(4) The participating entity, without the involvement of the Authority, would be unlikely, unwilling or unable to undertake such redevelopment of the property as was necessary for economic development.