The Will Kankakee Regional Development Authority (WKRDA) was created by action of the Illinois General Assembly and the Governor. WKRDA is a general development agency for the counties of Will and Kankakee and is one of only four active regional development authorities within the State of Illinois. The others are located within the Quad Cities, Southwestern Illinois and the Upper Illinois River Valley area.
The Authority’s financial and supportive powers enable it, with the written approval of the Governor of the State of Illinois, to:
- Issue Taxable Bonds
- Issue Tax-Exempt Bonds
- Issue Moral Obligation Bonds
- Issue Notes or other evidences of indebtedness
for the purpose of developing, constructing, acquiring or improving properties or facilities for business entities locating in or expanding within the territorial jurisdiction of the Authority.
The Authority may also:
- Lease or
- Sell real property and improvements.
The Authority has certain powers granted to it as a municipality as authorized by selected sections of the Illinois Municipal Code including the power to enter into contracts and intergovernmental agreements with private bodies or units of government.