Town of Waxhaw Awards Facilities Contract to Polito, Suzanne (May 2023)

Scope & details

The full contract record, as filed.

Contract amount

$2,500,000.00 (purchase price); $1,750,000.00 seller financing at 6% interest, 55 monthly payments of $36,472.43 (final payment $36,290.98), $750,000.00 due at closing including $50,000.00 earnest money

Contract type

FACILITIES

Contract term

55 months financing term; closing scheduled for May 31, 2023

Renewal date

2028-10-01

Renewal

Financing includes structured prepayment penalties that decrease annually for first three years; no auto-renewal; final payment due after 55 months from closing.

Document type

Agenda

Source document

board_of_commissioners_regular_meeting_agenda_may.pdf

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the facilities contract by Town of Waxhaw?

Polito, Suzanne was awarded this facilities contract by Town of Waxhaw, as recorded on May 9, 2023. The contract value is $2,500,000.00 (purchase price); $1,750,000.00 seller financing at 6% interest, 55 monthly payments of $36,472.43 (final payment $36,290.98), $750,000.00 due at closing including $50,000.00 earnest money.

How much is the Polito, Suzanne contract with Town of Waxhaw worth?

The Polito, Suzanne contract with Town of Waxhaw is valued at $2,500,000.00 (purchase price); $1,750,000.00 seller financing at 6% interest, 55 monthly payments of $36,472.43 (final payment $36,290.98), $750,000.00 due at closing including $50,000.00 earnest money, covering facilities work.

What type of contract is this?

This is a Facilities contract, documented as a agenda record, structured as a not-to-exceed (ceiling) agreement.

Where was this contract approved?

This contract appears in board_of_commissioners_regular_meeting_agenda_may.pdf (Agenda), dated May 9, 2023 from Town of Waxhaw. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Polito, Suzanne hold?

Polito, Suzanne may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

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What is Town of Waxhaw currently buying?

Explore Town of Waxhaw's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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