Sec. 15. District plan.

736 words·~3 min read·/il/chapter-65/act-125/15

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(a)A business improvement district established under this Act is subject to and governed by a district plan, as may be amended as set forth in Section 60, and filed with the clerk. A district plan shall be prepared by the property owner or owners who submit the written petition to the clerk under Section 30.

(b)The district plan shall include, but need not be limited to, the following:

(1)The name of the business improvement district.

(2)A map of the business improvement district in sufficient detail to allow a property

owner to reasonably determine whether a parcel of real property is located within the boundaries of the business improvement district.

(3)A description of the boundaries of the business improvement district in a manner

sufficient to identify the real property included in the business improvement district.

(4)The initial term of the business improvement district.

(5)A statement identifying the activities and improvements within the business

improvement district that may be provided from time to time for which property owners will be charged and that the activities and improvements that are provided may vary from year to year and may differ by class.

(6)A statement identifying the maximum amount of the annual district charge to be

levied and that the maximum amount of the annual district charge levied may vary from year to year.

(7)A statement identifying the maximum amount of total district charges to be levied

for the term of the business improvement district.

(8)A statement identifying the proposed source or sources of financing, including the

proposed method and basis of levying an assessment, in sufficient detail to allow each property owner to calculate

(i)the estimated amount of the district charge to be levied upon the property owner annually,

(ii)the maximum amount of the district charge that could be levied upon the property owner annually, and

(iii)the total amount of the district charges that could be levied upon the property owner for the term of the business improvement district.

(9)Any interest or penalties that may be imposed for delinquent payment of a district

charge.

(10)A list of the real property subject to a district charge, and a statement of any

proposed classifications. The list shall include the permanent tax index number of each parcel located within the business improvement district.

(11)A statement of the real property classes exempt from charge, and a list of the real

property to be exempted.

(12)A statement identifying the proposed procedures for renewal, subject to the

limitations under Section 55.

(13)A statement identifying the district management association and the district

management association's anticipated liability insurance coverage limits if the business improvement district will be contracting with a district management association.

(14)A statement identifying how unspent revenue collected from district charges may be

allocated, carried over year to year, or returned to the assessed property owners at the end of each year by applying the same method and basis that was used to calculate the district charges levied throughout the term of the business improvement district.

(15)The manner by which an assessed property owner may contest the calculation of a

specific district charge.

(16)A statement identifying the business improvement district's governance structure.

The governance structure shall include a board of directors, and the statement shall identify the size of the board, the manner in which directors are elected or appointed to serve on the board, the term of the board members, and any other details required under Section 50 of this Act.

(17)The anticipated annual percentage of total district charges that will be allocated

for administrative expenses to operate and maintain the business improvement district.

(18)A statement identifying if a class or classes of real property exempt from district

charges may elect to have a district charge levied against the property for the purposes of receiving benefits from the business improvement district. If the district plan authorizes this elective participation, the district plan must also identify the process by which the property owner affirmatively elects to participate, the maximum annual amount of district charges to be levied against the property owner, and the maximum amount of total district charges to be levied against the property owner for the term of the business improvement district.

(19)Any proposed rules and regulations to be applied to the business improvement

district.