Ill. Admin. Code tit. 47 § 375.201

Current through Register Vol. 48, No. 36, September 6, 2024

Section 375.201 - Content of Notice of Intent to Terminate Subsidy

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.

Ill. Admin. Code tit. 47, § 375.201