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FINANCIAL_SERVICESAPPROVED

Dakota County CDA Board of Commissioners Agenda May 19 2026

CDA Authorizes $18M Revenue Note with U.S. Bank

Note principal amount not to exceed $18,019,000DAKOTA county CDAU.S. BANK NATIONAL ASSOCIATIONMay 19, 2026

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Veritone logo
TerraCycle logo
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WithersRavenel logo
Derivita logo
Comcate logo
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Description

The CDA Board approved issuing up to $18,019,000 in Multifamily Housing Revenue Notes for the Burnsville Family Apartments project and authorized a Funding Loan Agreement with U.S. Bank, National Association as funding lender. The financing will be secured solely by project revenues and related collateral, with no recourse to the CDA’s tax base.

Contract Details

Contract Amount

Note principal amount not to exceed $18,019,000

Vendor

U.S. BANK NATIONAL ASSOCIATION

Agency

DAKOTA county CDA, MN

Contract Type

FINANCIAL_SERVICES

Document Date

May 19, 2026

Contract Term

Expected final bond maturity of up to 20 years

Renewal Info

Note terms, including maturity up to 20 years and any extensions or modifications, will be governed by the Funding Loan Agreement; future amendments may be approved administratively subject to specified conditions.

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