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Council amends CRA agreement with Navistar developers; schools to receive retroactive payment
Summary
Council approved a resolution modifying a 2017 CRA agreement tied to the Navistar site, replacing a planned city–school income tax sharing arrangement with a direct compensation agreement and authorizing a retroactive payment to local schools.
The Urbana City Council on May 6 passed a resolution to amend a 2017 community reinvestment area (CRA) agreement tied to the Navistar facility, changing how school compensation tied to the project will be handled.
Doug, a staff member, said the original CRA accompanied construction of a roughly 355,000-square-foot facility and included a multi-year abatement on improved property value. The original agreement anticipated higher payroll and job creation than…
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