(A) If the owner of a property containing subsidized housing records a declaration pursuant to the requirements of the Condominium Property Act, codified at 765 ILCS 605/1, et seq., as amended, such owner shall so notify the Department. Such notification shall be given to the Department on the same date that the owner records or is required to record the declaration. The notice required by this section shall be delivered in person or mailed to the Commissioner by certified mail, return receipt requested, on a form provided by the Department, and shall contain the following information: (1) whether the property owner has notified the tenants of the property identified in the declaration that a declaration has been filed, and, if so, the date the tenants were so notified; (2) the estimated time frame of conversion; (3) whether the owner has a relocation plan for tenants, and, if so, the nature of the plan; and (4) whether federal funds are being used for the conversion, and, if so, the nature of the federal funds, including any affordability restrictions on the use of such funds. Upon receipt of the notice, the Commissioner shall immediately make a copy of such notice available to any entity designated as a qualified entity pursuant to Section 2-44-120 of this Code. Any person who violates this section shall be fined not less than $500.00 nor more than $1,500.00 for each offense. Each day that a violation continues shall constitute a separate and distinct offense.
(B) As used in this section:
"Declaration" means the declaration referred to in the Condominium Property Act.
"Subsidized housing" means any housing or unit of housing subject to a Section 8 contract with the United States Department of Housing and Urban Development entered into pursuant to Section 8 of the United States Housing Act of 1937, as amended.
(Added Coun. J. 11-14-18, p. 90308, Art. I, § 1)