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Urbana to execute HOME subrecipient agreements to support 56 affordable units at Parker Glen Phase 2 in Champaign
Summary
Urbana staff asked the committee to authorize HOME subrecipient and developer agreements that would commit up to $50,000 in Urbana‑administered HOME funds to Parker Glen Phase 2 (56 units) in Champaign; developer received LIHTC; HOME affordability period to be at least 20 years (LIHTC 30 years).
City staff asked the committee to authorize execution of HOME subrecipient and developer agreements related to Parker Glen Phase 2, a 56‑unit affordable rental development in Champaign.
Braden (staff) told the committee the Urbana Home Consortium — Urbana, Champaign and Champaign County — administers HOME Program dollars; Urbana is the lead entity and executes agreements on…
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