City of Urbana Committee of the Whole Meeting Agenda Packet April 2026
Urbana to allocate bond cap to Eastern Illinois EDA
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Description
The City of Urbana plans to transfer $2,688,592.50 of its 2026 private activity bond volume cap to the Eastern Illinois Economic Development Authority for use in financing eligible affordable housing projects. The Committee of the Whole is recommending approval of Resolution 2026-04-013R for City Council consent agenda action.
Contract Details
Contract Amount
$2,688,592.50
Vendor
EASTERN ILLINOIS ECONOMIC DEVELOPMENT AUTHORITY
Agency
City of Urbana, IL
Contract Type
FINANCIAL_SERVICES
Document Date
April 6, 2026
Contract Term
Calendar year 2026 private activity bond volume cap allocation
Renewal Date
2026-12-31
Renewal Info
One-time allocation of 2026 private activity bond volume cap; unused bond cap reverts to the State of Illinois after statutory deadlines.
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