Redevelopment Incentive Program

Redevelopment Incentive Program (Up to $25,000)

Development Incentives are awarded to encourage capital investments in buildings and properties in Urbana's TIF Districts. Redevelopment Incentives cannot be combined with Redevelopment Agreements. All incentive applications are subject to the availability of funding and must be located within a TIF District.

Priority uses are eligible to receive up to $25,000 in Redevelopment Incentives. Other eligible uses are eligible to receive up to $10,000.

 

TIF Maps & Eligibility Requirements

 

To receive a Development Grant:

• Complete the Redevelopment Incentive Program Application

• Complete all redevelopment work and submit receipts with proof of payment

• Reimbursements will be provided at a rate of 5%-20% dependent on meeting established scoring criteria

• Reimbursements will be provided for eligible work including labor and work permanently affixed to the property.

• Provide a W9

• Please see the Redevelopment Incentive Program Application for additional requirements

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Created on: Friday, August 30, 2013 - 16:44
- Author - BrandonB
- Contributors: BrandonBElizabethHWillK