City of Oregon Council AgendaPacket 2026-06-09
TIF Redevelopment Forgivable Loan to Monhow Enterprises
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Description
The City of Oregon approved a Tax Increment Financing (TIF) Redevelopment Agreement with Marc & Michelle Mongan and Monhow Enterprises, LLC for up to $50,000 as a five-year forgivable loan to redevelop the old M&M grocery store.
Contract Details
Contract Amount
Not to exceed $50,000.00
Vendor
MARC & MICHELLE MONGAN AND MONHOW ENTERPRISES LLC
Agency
City of Oregon, IL
Contract Type
OTHER
Document Date
June 9, 2026
Contract Term
Five-year forgivable loan (2026–2031)
Renewal Date
2031-05-31
Renewal Info
Five-year forgiveness, with early repayment if terms not met; no auto-renewal.
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