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(a) Whenever any corporation; partnership; association; business trust; estate; two or more persons having a joint or common interest; other commercial or legal entity; trustee of a land trust; or any beneficiary or beneficiaries thereof (for purposes of this section, collectively “applicant”) makes application to the City of Chicago for action requiring an ordinance, or ordinance amendment, city council approval, or other city agency approval (for purposes of this section, collectively “city action”), with respect to sale or purchase of real estate, real property tax reclassification, zoning, vacation of streets and alleys, leases, and contracts, the following disclosures and information shall be certified and attached to the application:
(1) the name, address and percentage of ownership interest of each individual or entity having a beneficial interest of more than 7.5 percent in the applicant (for purposes of this section, “owner”). Any owner required by law to file a statement providing substantially the information required by this paragraph with any other government agency may file a duplicate of such statement;
(2) whenever any interest required to be disclosed in paragraph (1) is held by an agent or agents, or a nominee or nominees, the principals for whom such agents or nominees hold such interest shall also be disclosed. The application of a spouse or any other party, if constructively controlled by another person, or legal entity as set forth above, shall state the name and address and percentage of beneficial interest of such person or entity possessing such constructive control and the relationship under which such control is being or may be exercised. Whenever a stock or beneficial interest is held by a corporation or other legal entity, such shareholder or beneficiary shall also make disclosure as required by paragraph (1) above;
(3) a statement under oath that the applicant has withheld no disclosures as to economic interests in the undertaking nor reserved any information, data or plan as to the intended use or purpose for which it seeks city action;
(4) a statement under oath disclosing whether or not the applicant or any owner, at the time of application for city action, is identified as a building code scofflaw or problem landlord pursuant to Section 2-92-416 of this Code.
(b) The disclosure requirements of this section shall apply to actual and prospective applicants and owners. For purposes of this section, the term “prospective” shall refer to an individual or entity in existence at the time application is made, which is not an applicant or owner at such time, but which the applicant expects to assume a legal status, within six months of the time the city action occurs, that would render such individual or entity an applicant or owner if they had held such legal status at the time application was made.
(Prior code § 26.1-1; Amend Coun. J. 12-8-04, p. 38063, § 1; Amend Coun. J. 3-12-08, p. 21786, § 1; Amend Coun. J. 1-21-15, p. 102428, § 4)
Notes
| 2-92-416 | The hyper-linked material is not part of the Chicago Building Code infobase and therefore is not included herein. The material is included in other provisions of the Chicago Municipal Code. The complete Chicago Municipal Code is available for purchase from American Legal Publishing in both print and Folio® versions. Please click here for the appropriate American Legal order form in printable Adobe® PDF format. For additional information, you may visit American Legal's website by clicking here. |