City of Urbana City Council Regular Meeting Agenda April 2026
Urbana Allocates 2026 Bond Cap to IHDA
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Description
The City of Urbana will allocate $2,688,592.50 of its 2026 Private Activity Bond volume cap to the Illinois Housing Development Authority for use in issuing single-family and multifamily mortgage revenue bonds and other eligible housing finance tools. This reallocation supports future affordable housing and homeownership projects benefiting Urbana residents without creating City debt.
Contract Details
Contract Amount
$2,688,592.50 (volume cap allocation)
Vendor
ILLINOIS HOUSING DEVELOPMENT AUTHORITY
Agency
Town of Urbana, IL
Contract Type
FINANCIAL_SERVICES
Document Date
April 12, 2026
Contract Term
Calendar year 2026 volume cap; bonds to be issued during 2026
Renewal Date
2026-12-31
Renewal Info
Single-year reallocation of 2026 private activity bond volume cap; continuation in later years would require new resolutions based on future allocations.
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