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Urbana approves TIF closure cleanup and moves $6.39 million into central TIF
Summary
City staff described budget amendment #7 to account for post-TIF-closure commitments and to transfer $6,390,000 to central TIF; council approved the amendment and asked for additional detail on central TIF totals and a $12,615 ED contribution.
The Urbana Committee of the Whole approved an ordinance revising the annual budget (budget amendment #7) to complete accounting for activities tied to a Tax Increment Financing (TIF) district closure.
City staff said the amendment moves prior commitments and underway projects into a post-TIF-closure fund so they can be tracked separately and…
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