Town of Urbana Awards Financial Services Contract to Eastern Illinois Economic Development Authority (April 2026)

The City of Urbana will transfer $2,688,592.50 of its 2026 Private Activity Bond volume cap to the Eastern Illinois Economic Development Authority to support issuance of tax-exempt bonds for affordable housing and other eligible projects. The bonds will be issued by EIEDA during calendar year 2026 and will not constitute debt of the City. The resolution also directs the City Clerk to notify the Governor of the reallocation.

Scope & details

The full contract record, as filed.

Contract amount

$2,688,592.50 (volume cap allocation)

Contract type

FINANCIAL_SERVICES

Contract term

Calendar year 2026 volume cap; bonds to be issued during 2026

Renewal date

2026-12-31

Renewal

Single-year reallocation of 2026 private activity bond volume cap; any future allocations would require separate Council action for subsequent years’ caps.

Document type

Agenda

Source document

City of Urbana City Council Regular Meeting Agenda April 2026

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Town of Urbana?

Eastern Illinois Economic Development Authority was awarded this financial services contract by Town of Urbana, as recorded on April 12, 2026. The contract value is $2,688,592.50 (volume cap allocation).

How much is the Eastern Illinois Economic Development Authority contract with Town of Urbana worth?

The Eastern Illinois Economic Development Authority contract with Town of Urbana is valued at $2,688,592.50 (volume cap allocation), covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a agenda record.

Where was this contract approved?

This contract appears in City of Urbana City Council Regular Meeting Agenda April 2026 (Agenda), dated April 12, 2026 from Town of Urbana. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Eastern Illinois Economic Development Authority hold?

Eastern Illinois Economic Development Authority may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

View Eastern Illinois Economic Development Authority's profile

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