Ill. Admin. Code tit. 47, § 365.1101 – Marketing and Management | Midpage
§ 365.1101
Ill. Admin. Code tit. 47, § 365.1101
Marketing and Management
AUTHORITY: Implementing Sections 7.19 and 7.25 of the Illinois Housing Development Act [20 ILCS 3805/7.19 and 7.25] and authorized by Sections 4 and 7(e) of the Illinois Affordable Housing Act [310 ILCS 65/4 and 7(e)].ILLINOIS HOUSING DEVELOPMENT AUTHORITY
a) It shall be the responsibility of the Owner to provide for the marketing and management of the Development in a manner and by a party satisfactory to the Authority so as to promote the purposes of the Program and the financial stability of the Development and to preserve the value of the Authority's security interest in the Development.
b) All marketing and management plans and management agreements shall be acceptable to the Authority. Such plans and agreements shall conform to any applicable conditions providing for Federal assistance (if any) relating to the Development.