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Foundry Apartments secures bond for redevelopment project

City of Norfolk logoCity of Norfolk
Disclosed value
$4,015,810
From agenda
Document date
Mar 3, 2025
Term
15 years

The 30-second brief

What it covers

Norfolk's CDA authorizes $4,015,810 tax increment revenue bond issuance to support Foundry Apartments Redevelopment Project, intended to create a taxable real property valuation of not less than $20,514,295 by January 1, 2025. Bond has 5% intrest rate.

Who holds it

Foundry Apartments holds this tax increment revenue bond contract with City of Norfolk.

What happens next

Term as filed: 15 years.

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Contract details

Contract type
Tax Increment Revenue Bond
Amount
$4,015,810
Document date
March 3, 2025
Term
15 years
Vendor
Foundry Apartments
Agency
City of Norfolk
Source document
community_development_agency_meeting_agenda_march.pdf (Agenda)

Foundry Apartments's other public contracts

City of Norfolk, NebraskaFoundry Apartments Contract Amended for Completion Date · Jul 15, 2024$26.2MCity of Norfolk, NebraskaFoundry Apartments Redevelopment Project Approved · Feb 6, 2023$4MCity of Norfolk, NebraskaFoundry Apartments gets $4,015,810 TIF contract · Dec 19, 2022$4MCity of Norfolk, NebraskaFoundry Apartments Seeks $4M TIF for Project · Nov 21, 2022$4MAll Foundry Apartments contractsVendor profile

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Questions about this contract

Who was awarded the tax increment revenue bond contract by City of Norfolk?

Foundry Apartments was awarded this tax increment revenue bond contract by City of Norfolk, as recorded on March 3, 2025. The contract value is $4,015,810.

How much is the Foundry Apartments contract with City of Norfolk worth?

The Foundry Apartments contract with City of Norfolk is valued at $4,015,810, covering tax increment revenue bond work.

What type of contract is this?

This is a Tax Increment Revenue Bond contract, documented as a agenda record.

Where was this contract approved?

This contract appears in community_development_agency_meeting_agenda_march.pdf (Agenda), dated March 3, 2025 from City of Norfolk. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

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What other contracts does Foundry Apartments hold?

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

What is City of Norfolk currently buying?

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

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