Urbana Approves Race Street Ventures Redevelopment Agreement
Town of UrbanaCity · IL- Disclosed value
- Estimated project cost of $2,135,000; TIF distributions totaling up to $258,000 ($100,000 plus four payments of $39,500)
- From agendapacket
- Approved
- Oct 12, 2026
The 30-second brief
The City of Urbana approved a redevelopment agreement with Race Street Ventures, LLC for the rehabilitation of 118–120 South Race Street into Fernie’s High Horse. The project has an estimated cost of $2.135 million and may receive up to $258,000 in TIF distributions subject to performance requirements.
Race Street Ventures LLC holds this contract with Town of Urbana.
Term as filed: Effective upon execution in February 2025; original Project Completion Date of March 31, 2026; agreement remains in effect through completion of eligible-cost payments or termination of the redevelopment project area.
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Contract details
- Amount
- Estimated project cost of $2,135,000; TIF distributions totaling up to $258,000 ($100,000 plus four payments of $39,500)
- Document date
- October 12, 2026
- Term
- Effective upon execution in February 2025; original Project Completion Date of March 31, 2026; agreement remains in effect through completion of eligible-cost payments or termination of the redevelopment project area
- Vendor
- Race Street Ventures LLC
- Agency
- Town of Urbana
- Source document
- City of Urbana AgendaPacket City Council Regular Meeting 2026-10-12 (AgendaPacket)
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Questions about this contract
Who was awarded the government contract by Town of Urbana?
Race Street Ventures LLC was awarded this government contract by Town of Urbana, as recorded on October 12, 2026. The contract value is Estimated project cost of $2,135,000; TIF distributions totaling up to $258,000 ($100,000 plus four payments of $39,500).
How much is the Race Street Ventures LLC contract with Town of Urbana worth?
The Race Street Ventures LLC contract with Town of Urbana is valued at Estimated project cost of $2,135,000; TIF distributions totaling up to $258,000 ($100,000 plus four payments of $39,500).
What type of contract is this?
This is a government contract, documented as a agendapacket record.
Where was this contract approved?
This contract appears in City of Urbana AgendaPacket City Council Regular Meeting 2026-10-12 (AgendaPacket), dated October 12, 2026 from Town of Urbana. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does Race Street Ventures LLC hold?
Race Street Ventures LLC may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.
What is Town of Urbana currently buying?
Explore Town of Urbana's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.