Ill. Admin. Code tit. 71 § 41.80
Current through Register Vol. 48, No. 48, December 2, 2024
Real estate procured for the project shall be held in fee simple title, except that conditions or easements are permissible if they do not interfere significantly with the intended purpose of the project. Leased land will be considered by CDB, but only if the term of the lease is at least 99 years or if the term of the lease extends beyond the projected useful life of the improvement. Because improvements to leased buildings benefit the owner, grant funds cannot be spent on improvements to leased buildings unless otherwise provided by the grant appropriation.
Ill. Admin. Code tit. 71, § 41.80