SIREPA Board of Directors Meeting Agenda August 2025
SIREPA Renews Building Mortgage with Connection Bank
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Description
The SIREPA Board approved Resolution 5-2025 renewing the interest-only mortgage loan with Connection Bank for the 2495 280th St building. The renewed loan is a one-year extension for 2025–2026 at an interest rate of 1.85%, continuing the existing financing relationship.
Contract Details
Vendor
CONNECTION BANK
Agency
Southeast Iowa Regional Economic And Port Authority, IA
Contract Type
FINANCIAL_SERVICES
Document Date
August 19, 2025
Contract Term
One-year interest-only loan extension 2025–2026 at 1.85%
Renewal Date
2026-12-31
Renewal Info
Mortgage initially financed as a 36-month interest-only loan at 0.9% from 2021–2024, extended for one year at 0.9% for 2024–2025, and now renewed for another one-year interest-only term at 1.85% for 2025–2026. Board removed language committing specific principal paydown at renewal but may still address principal in future actions.
More from CONNECTION BANK
Related Contracts
Des Moines County Board of Supervisors Agenda Packet 2026-05-26
APPROVEDKeokuk City Council Agenda January 5 2026
APPROVEDSIREPA Board of Directors Meeting Agenda December 2025
ONGOINGSIREPA Board of Directors Meeting Agenda November 5 2025
ONGOINGSIREPA Board of Directors Meeting Minutes August 2025
ONGOINGIssuing Agency
Southeast Iowa Regional Economic And Port Authority
Special District
West Burlington, IA
More from Southeast Iowa Regional Economic And Port Authority
SIREPA Board of Directors Meeting Agenda December 2025
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SIREPA Board of Directors Meeting Agenda December 2025
SIREPA Board of Directors Meeting Agenda December 2025
SIREPA Board of Directors Meeting Agenda December 2025
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