IL HB5916

Authorizes the Illinois Sports Facilities Authority to sell any or all parcels of property described in Section 12 of the Illinois Sports Facilities Authority Act.

Requires the Authority to obtain 3 appraisals before selling property, with at least one appraiser residing in Cook County, and establishes the highest appraised value plus appraisal costs as fair market value.

Prohibits property from being conveyed for less than fair market value.

Requires public auction sale with notice published on 3 separate days between 15 and 30 days prior to the sale in a daily newspaper with general circulation in the county where the property is located.

Provides the Authority with authorization to enter into agreements and execute documents necessary to arrange for the property sale.