City of Urbana Awards Financial Services Contract to Eastern Illinois Economic Development Authority (September 2025)

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.

Scope & details

The full contract record, as filed.

Contract type

FINANCIAL_SERVICES

Contract term

2024-2025 program year

Renewal date

2025-12-31

Renewal

Bond cap cession is typically an annual action; future cessions will require separate approvals each year.

Document type

Agenda

Source document

city-of-urbana-community-development-commission-public-hearing-agenda_721.pdf

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Frequently asked questions

Common questions about this contract, answered from the record.

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

Eastern Illinois Economic Development Authority was awarded this financial services contract by City of Urbana, as recorded on September 23, 2025.

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-community-development-commission-public-hearing-agenda_721.pdf (Agenda), dated September 23, 2025 from City 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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