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Urbana commission approves splitting $5.38 million 2026 bond cap between IHDA and Eastern Illinois EDA
Summary
The commission voted unanimously to transfer Urbana's 2026 private activity bond cap authority of $5,377,185, allocating $2,688,592.50 each to the Illinois Housing Development Authority and the Eastern Illinois Economic Development Authority.
The Community Development Commission unanimously approved two related resolutions to transfer Urbana's 2026 private activity bond volume cap, splitting the city's allocation equally between the Illinois Housing Development Authority and the Eastern Illinois Economic Development Authority.
Staff explained the volume cap is IRS-authorized authority to issue tax-exempt private activity bonds (it is not direct cash). The city's 2026…
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