COMMUNITY SELF-REVITALIZATION

Creates the Community Self-Revitalization Act. Provides that a municipality, county, or any combination of municipalities and counties that are certified as an economically distressed community by the Department of Commerce and Community Affairs, in order to receive the assistance as provided under the Act, may appoint a Board of Economic Advisors. Provides that the Board shall consist of 12 members of the community, appointed by the corporate authorities of the community, representing the perspective of 12 sectors vital to community redevelopment, including families, businesses, and government. Provides that the Board shall create a 3-year to 5-year revitalization plan for the community containing distinct, measurable objectives for revitalization. Provides that the Department of Commerce and Community Affairs shall, subject to appropriation, make grants to communities that create a Board of Economic Advisors under the Act for the operational expenses of the Board. Provides that Boards shall seek funding sources to enhance economic development. Further provides that the Department of Commerce and Community Affairs shall advise Boards of available funding and assist Boards in securing this funding. Effective immediately.