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Urbana staff to seek technical correction and possible 10‑year extension for enterprise zone; taxing districts asked for support letters
Summary
City staff told the advisory board they will request taxing‑district support letters and submit a program language technical correction to preserve full abatement terms for enrolled projects; the city is also eligible to apply for a 10‑year extension to the enterprise zone designation, which would extend it to 2040 if approved by the state.
City of Urbana staff told the Enterprise Zone Advisory Board they will pursue a technical correction to ordinance language and prepare an application for a potential 10‑year extension of the enterprise zone designation.
Hillary Ortiz, the enterprise zone administrator, said current ordinance language ties real estate tax abatement termination to the expiration of the enterprise zone designation and that this could prevent projects currently enrolled from realizing the full abatement term. She described a proposed correction stating that "the said real…
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