city-of-urbana-community-development-commission-public-hearing-agenda_721.pdf
Urbana cedes bond cap to Eastern Illinois EDA
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Description
In the 2024-2025 period, Urbana ceded its Private Activity Bond Cap to the Eastern Illinois Economic Development Authority to expand the pool of capital available for affordable housing development and mortgage assistance. This financial arrangement leverages state-level financing tools for local projects.
Contract Details
Vendor
EASTERN ILLINOIS ECONOMIC DEVELOPMENT AUTHORITY
Agency
City of Urbana, IL
Contract Type
FINANCIAL_SERVICES
Document Date
September 23, 2025
Contract Term
2024-2025 program year
Renewal Date
2025-12-31
Renewal Info
Bond cap cession is typically an annual action; future cessions will require separate approvals each year.
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