The City of Urbana offers two Redevelopment Incentive programs to encourage investment in buildings and properties within the Central TIF District. These programs are designed to support property improvements while keeping the application process straightforward and accessible.
Both programs provide reimbursement for a portion of eligible project costs after the work is completed. To qualify, projects must meet the program requirements and be located within the Central TIF District.
The two variations of the Redevelopment Incentive Program:
Standard Redevelopment Incentive
For most projects in the Central TIF District, the City offers a Standard Redevelopment Incentive that reimburses 5 percent to 20 percent of eligible project costs, up to a maximum award of $10,000 or $25,000, depending on the project.
Funding levels are determined through a point-based evaluation process based on how well the project meets the program’s established criteria.
Downtown CORE Redevelopment Incentive
Projects located in the core of the Downtown Business District may qualify for an enhanced incentive of up to $35,000.
As with the standard program, the final award amount is determined through a point-based review of program criteria.
Redevelopment Incentive Program Application