Illinois Administrative Code (Last Updated: March 27, 2024) |
TITLE47. HOUSING AND COMMUNITY DEVELOPMENT |
PART375. NOTICE PROCEDURES UNDER THE FEDERALLY ASSISTED HOUSING PRESERVATION ACT |
SUBPARTB. NOTICE PROCEDURES |
§375.201. Content of Notice of Intent to Terminate Subsidy
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For owners required to provide notice to tenants of an Assisted Housing Development and to affected public entities under the Preservation Act, the notice shall include the following information:
a) the address of each building included in the property;
b) the number of occupied units in the property on the date of the notice;
c) a description of the property, including the number of units, commercial space, garage, etc.;
d) the date on which the owner intends to sell or otherwise dispose of the property, complete prepayment or complete a termination of affordability restrictions at the property;
e) a detailed description of the affordability restrictions presently in place at the property;
f) the name, address and contact information for the owner of the property; and
g) a statement notifying the tenant that he/she has certain rights under the Preservation Act.