MUNI-PROPERTY INTEREST

Amends the Municipal Code. Changes a Section that prohibits any member of a corporate authority of a municipality that is involved in a redevelopment project from acquiring an interest in any property located in the redevelopment area either after the individual obtains knowledge of the project or after the first public notice of the project, and requires that those members who own or control an interest in property located within the redevelopment project area disclose the terms of the interest and refrain from any further official involvement or communication regarding the redevelopment plan. Changes the exception for property purchased as the member's exclusive and primary residence by eliminating the requirement that the exception only applies to property interests in a redevelopment area, or a proposed redevelopment area, that was established before December 31, 1989. Effective immediately.