315 ILCS 30/7

No member or employee of a Department shall acquire any interest direct or indirect in any redevelopment project or conservation area or in any property included or planned to be included in any redevelopment project or conservation area, nor shall he have any interest direct or indirect in any contract or proposed contract in connection with any such redevelopment project or conservation area. If any member or employee of any Department owns or controls an interest direct or indirect in any property included in any redevelopment project or conservation area, he shall disclose the same in writing to the Department and such disclosure shall be entered upon the minutes of the Department.