Edgerton City Council Meeting Agenda January 22 2026
City Subordinates IRB Leasehold to NY Life Loan
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Description
Edgerton executed a subordination/attornment agreement with New York Life Insurance and Annuity Corporation, giving lender rights on a $54.7 million loan involving the city's IRB project. The agreement was finalized in December 2025 and formally approved January 2026.
Contract Details
Vendor
NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION
Agency
City of Edgerton, KS
Contract Type
FINANCIAL_SERVICES
Document Date
January 22, 2026
Contract Term
Beginning December 23, 2025 – loan maturity
Renewal Date
2035-12-23
Renewal Info
Loan term per underlying note and mortgage, starting Dec 2025. Subject to future modifications/assignments as per agreement.
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DISCUSSSEDMore from City of Edgerton
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Edgerton City Council Meeting Agenda Packet 2026-05-28
Edgerton City Council Meeting Agenda Packet 2026-05-28
Edgerton City Council Meeting Agenda Packet 2026-05-28
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