(35 ILCS 11/5)
(Section scheduled to be repealed on December 31, 2011)
Sec. 5.
Definitions.
In this Act:
"Location efficient" means a project that maximizes the
| use of existing investments in infrastructure, avoids or minimizes additional government expenditures for new infrastructure, and has nearby housing affordable to the permanent workforce of the project or has accessible and affordable mass transit or its equivalent or some combination of both. | |
"Location efficiency report" means a report that is |
| prepared by an applicant for increased State economic development assistance under Section 10 and follows this Act and any related Department guidelines, and that describes the existence of (i) affordable workforce housing or (ii) accessible and affordable mass transit or its equivalent. | |
"Employee housing or transportation remediation plan" |
| means a plan to increase affordable housing or transportation options, or both, for employees earning up to the median annual salary of the workforce at the project. The plan may include, but is not limited to, an employer‑financed or assisted housing program that can be supplemented by State or federal grants, shuttle services between the place of employment and existing transit stops or other reasonably accessible places, facilitation of employee carpooling, or similar services. | |
"Accessible and affordable mass transit" means access to |
| transit stops with regular and frequent service within one mile from the project site and pedestrian access to transit stops. | |
"Affordable workforce housing" means owner‑occupied or |
| rental housing that costs, based on current census data for the municipality where the project is located or any municipality within 3 miles of the municipality where the project is located, no more than 35% of the median salary at the project site, exclusive of the highest 10% of the site's salaries. If the project is located in an unincorporated area, "affordable workforce housing" means no more than 35% of the median salary at the project site, excluding the highest 10% of the site's salaries, based on the median cost of rental or of owner‑occupied housing in the county where the unincorporated area is located. | |
"Department" means the Department of Commerce and |
| Economic Opportunity (DCEO) or its successor agency. | |
"Applicant" means a company or its representative that |
| negotiates or applies for economic development assistance from DCEO. | |
"Economic development assistance" means State tax credits |
| and tax exemptions given as an incentive to an eligible company after certification by DCEO under the Economic Development for a Growing Economy Tax Credit Act (EDGE). | |
"Existence of infrastructure" means the existence within |
| 1,500 feet of the proposed site of roads, sewers, sidewalks, and other utilities and a description of the investments or improvements, if any, that an applicant expects State or local government to make to that infrastructure. | |
(Source: P.A. 94‑966, eff. 1‑1‑07.) |