City of Dundas AgendaPacket 2026-05-26
City Consents to Tax Abatement Assignment to Alliance Bank
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Description
By adopting Resolution 2026-25, Dundas approved a Consent and Estoppel Certificate allowing ALLIANCE BANK to receive a collateral assignment of tax abatement payments tied to the Stoneridge Hills II project. The consent supports the bank’s approximately $3,075,000 construction loan to the developer without creating new City payment obligations.
Contract Details
Contract Amount
$3,075,000 (approximate construction loan to Developer; not a city payment)
Vendor
ALLIANCE BANK
Agency
City of Dundas, MN
Contract Type
FINANCIAL_SERVICES
Document Date
May 26, 2026
Renewal Info
Consent and estoppel related to an existing Tax Abatement Agreement; no renewal provisions but remains effective for the life of the underlying agreement and loan.
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