FINANCIAL_SERVICESRECOMMENDED

Township of Rideau Lakes Elgin Seniors Housing Board Agenda Packet 2026-06-24

Board Approves One-Year Renewal of RBC Bank Loan

$297,380.99 (current balance); new rate to be establishedTownship of Rideau LakesROYAL BANK OF CANADAJune 20, 2026

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Description

The Elgin Seniors Housing Board authorized renewal of the RBC bank loan for a one-year term, maintaining financial flexibility during strategic planning. The anticipated loan amount is $297,380.99 with a new rate to be confirmed.

Contract Details

Contract Amount

$297,380.99 (current balance); new rate to be established

Vendor

ROYAL BANK OF CANADA

Agency

Township of Rideau Lakes, Canada

Contract Type

FINANCIAL_SERVICES

Document Date

June 20, 2026

Contract Term

1-year renewal (August 2026–August 2027)

Renewal Date

2027-08-01

Renewal Info

One-year renewal approved for loan originally maturing August 2036. Renewal will align with new rate to be confirmed at loan anniversary.

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