City of Cortland Common Council Minutes 2026-05-05
City Subordinates Mortgage for New NBT Bank Loan
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Description
The City of Cortland approved subordination of its existing mortgage to allow NBT Bank to issue a new approximately $350,000 mortgage for an income property owner participating in the City’s rehabilitation program. The Mayor is authorized to sign the mortgage subordination agreement.
Contract Details
Contract Amount
approximately $350,000
Vendor
NBT BANK
Agency
City of Cortland, NY
Contract Type
FINANCIAL_SERVICES
Document Date
May 5, 2026
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