Current through December 12, 2024
(a) The Commissioner may solicit and/or accept applications from distressed municipalities for designation of an area as a housing development zone.
(b) As part of the application and designation approval process, the municipality shall be required to furnish the following:
(1) Evidence that the municipality meets the definition of a distressed municipality in Section 1 above;
(2) A census tract map which clearly shows the census tract(s) being proposed for designation as a zone;
(3) Certification that at least 25% of the designated census tract(s) is zoned or may be zoned for multi-family residential dwellings;
(4) A resolution by the legislative body of the municipality that, should the area be designated by the Commissioner, the municipality shall pass an ordinance for the fixing of assessments on all commercial and residential property in the zone which is improved during the period of designation and, in the case of residential properties, is occupied by families whose income is less than 150% of the median family income of the municipality. Any increase in assessments shall be deferred in accordance with the schedule established by Public Act 87-378; and
(5) A plan for the development and rehabilitation of housing within the zone which addresses and identifies the following:
(A) proposed housing and commercial construction or rehabilitation;
(B) municipal improvements such as the construction or rehabilitation of community facilities;
(C) public utilities and infrastructure improvements;
(D) evidence of financial commitment from all sources; and
(E) A statement listing the housing programs under which the municipality or developer(s) will be seeking financial assistance, the amount of financial assistance to be requested and an indication of the status of all required local approvals.
(c) The Commissioner may, from time to time, request additional information from the municipality.
(d) Proposals shall be approved or disapproved by the Commissioner based on the factors listed in Section 4 (b) above and factors which shall include but are not limited to:
(1) Any needs outlined in the five year Housing Advisory Plan;
(2) Housing assistance plans, if in existence;
(3) Any other statistical data on housing need and marketability;
(4) Suitability of the proposed site for this designation;
(5) The apparent capability of the municipality to plan and manage a housing development zone;
(6) Local community support; and
(7) The completeness and feasibility of the municipality's proposed plan for the development and rehabilitation of housing, as submitted pursuant to Section 4(b) above.
(e) If a proposal is disapproved, the municipality shall be notified in writing of the reason(s) for the rejection.
(f) If a proposal is approved, the Commissioner shall so notify the municipality in writing, and inform the municipality of the contents and terms of the Designation Agreement for a housing development zone. Before such agreement is signed, the municipality shall pass an ordinance for fixing assessments and deferring increases in assessments on properties within the zone, as required by Public Act 87-378, and shall, if necessary, finalize any zoning changes needed to meet the requirement that 25% of the housing development zone be zoned to permit multi-family residential dwellings.
