Development Agreements are awarded to encourage capital investments in buildings and properties in Urbana's TIF Districts. Redevelopment Agreements cannot be combined with Redevelopment Incentives. All Agreements are subject to the availability of funding.
If you have any questions, please contact the Economic Development Division at 217-384-2444.
Redevelopment Agreement Program
The Redevelopment Agreement Program provides incentives for new buildings, large scale redevelopments, and projects that promise exceptional economic and community outcomes. Agreements are considered on a case-by-case basis and ultimately require City Council approval. Those interested in pursuing a Development Agreement should contact the Economic Development Division at 217-384-2444.
Redevelopment Agreements are used as incentives for major projects in Downtown Urbana and along the Cunningham Avenue Corridor. If you are working on a major development project in these areas, please contact the Economic Development Division to discuss whether a Redevelopment Agreement is a god fit for your project.
Redevelopment Agreements are negotiated on a case-by-case basis and tend to be proportional to the scale of the investment in the property. Guidelines of the documents required for consideration of a redevelopment agreement are listed on the document below.