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Grand Rapids offers KTJ Financial assistance to facilitate housing

Disclosed value: $4,183,506; From agenda
Document date: Jul 17, 2025
Term: August 1, 2027 to February 1, 2056

What it covers

The city of Grand Rapids is offering financial assistance to KTJ 435, LLC for the Oppidan Workforce Housing project, not exceeding $4,183,506. Financial assistance through the TIF Plan and Tax Abatement Program, subject to adjustments based on project performance and lookback calculations. The TIF Note is originally issued to the developer.

Who holds it

Ktj 435 holds this financial assistance contract with City of Grand Rapids.

What happens next

Term as filed: August 1, 2027 to February 1, 2056.

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Contract details

Contract type: Financial Assistance
Amount: $4,183,506
Document date: July 17, 2025
Term: August 1, 2027 to February 1, 2056
Vendor: Ktj 435
Agency: City of Grand Rapids
Source document: city-of-grand-rapids-eda-special-meeting-agenda-july-17-2025_f93.pdf (Agenda)

Ktj 435's other public contracts

City of Grand Rapids, MinnesotaMinnesota Housing provides $7.96M deferred loan for housing · Jul 17, 2025$8M City of Grand Rapids, MinnesotaKTJ 435, LLC agreement approved · May 27, 2025Undisclosed City of Grand Rapids, MinnesotaTax Increment Financing agreement to develop housing · May 27, 2025Undisclosed City of Grand Rapids, MinnesotaDevelopment Assistance Agreement with KTJ 435, LLC · May 27, 2025Undisclosed City of Grand Rapids, MinnesotaStormwater agreement consideration with KTJ 435, LLC · Apr 28, 2025Undisclosed All Ktj 435 contractsVendor profile

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Questions about this contract

Who was awarded the financial assistance contract by City of Grand Rapids?

Ktj 435 was awarded this financial assistance contract by City of Grand Rapids, as recorded on July 17, 2025. The contract value is $4,183,506.

How much is the Ktj 435 contract with City of Grand Rapids worth?

The Ktj 435 contract with City of Grand Rapids is valued at $4,183,506, covering financial assistance work.

What type of contract is this?

This is a Financial Assistance contract, documented as a agenda record.

Where was this contract approved?

This contract appears in city-of-grand-rapids-eda-special-meeting-agenda-july-17-2025_f93.pdf (Agenda), dated July 17, 2025 from City of Grand Rapids. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

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What other contracts does Ktj 435 hold?

Ktj 435 may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

What is City of Grand Rapids currently buying?

Explore City of Grand Rapids's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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