City of Urbana Committee of the Whole Meeting Agenda Packet April 2026
Urbana to transfer bond cap to IHDA for housing
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Description
The City of Urbana proposes to transfer $2,688,592.50 of its 2026 private activity bond volume cap to the Illinois Housing Development Authority to support mortgage revenue bonds and affordable housing initiatives. Resolution 2026-04-014R is recommended for placement on the City Council consent agenda.
Contract Details
Contract Amount
$2,688,592.50
Vendor
ILLINOIS HOUSING 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; any unused cap is subject to state recapture under Illinois Private Activity Bond Allocation Act timelines.
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