Urbana's Hotel Royer set to receive $5.2 million in TIF reimbursement after delayed opening

URBANA, Ill. (WAND) - Hotel Royer will finally receive millions in reimbursement from the city of Urbana following significant delays in its opening.

The developers of the iconic hotel were promised over $5 million in Tax Increment Financing (TIF) funds as an incentive for renovating the building.

Hotel Royer was granted its final certificate of occupancy in April and will now receive a total of $5.2 million after approval from the City Council.

The Champaign County Chamber of Commerce will hold a ribbon cutting on Wednesday, June 11,at 4 p.m. to celebrate the Grand Opening.

Following the ribbon cutting, the Hotel Royer will host a Grand Opening Celebration Reception from 4:30 p.m. – 6:00 p.m. The hotel will also provide guided tours of the property.