Fernie's High Horse developer seeks second deadline extension in downtown Urbana
A proposed resolution would push the project's completion date to Dec. 31.
URBANA - The developer turning two vacant downtown buildings into a music venue called Fernie's High Horse is asking the city for a second deadline extension, according to the agenda packet for Monday's Committee of the Whole meeting.
Resolution 2026-10-054R would move the project completion date in Race Street Ventures LLC's redevelopment agreement from Oct. 31 to Dec. 31, 2026. The agreement lets the developer use Central Tax Increment Financing District money for capital improvements at 118-120 S. Race St. The council approved it 6-0 on Feb. 24, 2025, with a March 31, 2026 deadline, then extended that deadline to Oct. 31 in February.
The staff memo says the building will hold up to 250 people, with a performance space, coffeehouse, bar and patio, plus four two-bedroom apartments upstairs. The developer projects $1,006,000 in first-year revenue and $35,210 in sales and food and beverage taxes. City staff recommend approval.
Minutes of Monday's meeting had not been posted Wednesday morning.
Source: City of Urbana Committee of the Whole agenda packet, Oct. 5, 2026, Item F1.