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Urbana council approves purchase of Pickerel farmland with remaining TIF‑4 funds after heated debate over possible uses
Summary
Staff told the council TIF‑4 expires Dec. 31 and recommended using remaining funds to buy roughly 30 acres (2302 Vance Road); council approved the purchase, while some members and residents warned the acquisition could subsidize speculative development such as truck stops or hotels.
The Urbana City Council on Dec. 15 approved an ordinance authorizing the purchase of property at 2302 Vance Road (the ‘Pickerel’ properties) using remaining funds tied to Tax Increment Financing District 4, after staff said the TIF expires on Dec. 31 and the city would otherwise lose the opportunity to keep those funds within the Cunningham Avenue corridor.
City staff member Olivia told the council the purchase is “inextricably linked with the expiration of TIF 4” and that TIFs have a 23‑year statutory lifespan; she said the city had approximately $915,000 earmarked to purchase…
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