Historic Triangle Recreational Facilities Authority AgendaPacket 2026-06-10
HTRFA Establishes $15 Million Line of Credit with Towne Bank
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Description
Historic Triangle Recreational Facilities Authority opened a $15 million line of credit with Towne Bank in December 2025 to support ongoing construction, with approximately $7 million drawn and significant closing costs incurred.
Contract Details
Contract Amount
$15,000,000 line of credit; approx. $263,000 in closing costs; about $7,000,000 drawn
Vendor
TOWNE BANK
Agency
Williamsburg Redevelopment & Housing Auth., VA
Contract Type
FINANCIAL_SERVICES
Document Date
June 10, 2026
Renewal Info
No terms or renewal options disclosed. Line of credit referenced as ongoing for current construction cash flow.
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DISCUSSSEDIssuing Agency
Williamsburg Redevelopment & Housing Auth.
Local Housing Authority
Williamsburg, VA
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