County plans $500,000 note for Sustainea facility
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Description
Tippecanoe County Council is considering Ordinance 2026-13-CL to fund a Taxable Economic Development Revenue Note up to $500,000 as a forgivable loan to Sustainea Bioglycols, LLC for construction of a new bio-based manufacturing facility in Lafayette. The note, maturing no later than December 31, 2035, will be funded from TIF revenues and will bear no interest, with repayment forgiven upon meeting specified conditions.
Contract Details
Contract Amount
Not to exceed $500,000
Vendor
SUSTAINEA BIOGLYCOLS LLC
Agency
Town of Sheffield, IN
Contract Type
FINANCIAL_SERVICES
Document Date
May 9, 2026
Contract Term
Through no later than December 31, 2035; forgivable per Loan Agreement
Renewal Date
2035-12-31
Renewal Info
Series 2026 Note matures no later than 2035-12-31 and may be forgiven if the Condition to Forgiveness in the Loan Agreement is satisfied; no interest accrues and no renewal provisions are described.
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