Incentives Coming to Build New Homes in Urbana

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Urbana– The City of Urbana has come up with a new incentive program for people to build new homes there.  It’s called “Think Urbana” will offer approximately 60 percent property tax abatement for the first five years on the value of the home.  There is a decreasing abatement schedule.

The city of Urbana, Champaign County, the Unit 116 School District, Urbana Park District, Cunningham Township and the Champaign-Urbana Mass Transit District have all agreed to provide the abatement.

To qualify, a person must build a new construction single-family, duplex, town home and have a market value of at least $80,000.

There will be a “Think Urbana” news conference to talk about it Monday.  It’s at 1:30 in the Urbana City Council Chambers on 400 South Vine Street. 

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