CHAMPAIGN, Ill. (WCIA) — A building that’s been sitting empty for two decades in Champaign could be getting a makeover.

The Champaign City Council is voting Tuesday night to turn the lots that hold the old CS Johnson factory into residential property.

The city said this would be the biggest development agreement the city has ever entered into.

Champaign would reimburse any increases in property taxes up to ten years or $6.6 million — whatever comes first — to prepare the site.

Dan Saphiere, associate planner for the City of Champaign, said preparation would include a couple different things.

“Simply remove the factory, addressing demolition expenses, enhancing the soil conditions, and mitigating any risks. The emphasis is predominantly on health and safety,” stated Saphiere.

Saphiere explained that Champaign is in need of more housing as rental rates have surged by approximately 57% since 2015. The developer, Community Property Management, has put forward a proposal for 228 multifamily units. This agreement is scheduled for a vote at the City of Champaign’s City Council meeting on Tuesday at 7 p.m.