Virginia Department of Housing and Community Development Town of Tangier Fiscal Distress Report March 2026
Tangier receives $50,000 bridge loan from local church
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Description
The Town of Tangier approved an interest-free $50,000 loan from the Swain Memorial United Methodist Church in April 2025 to cover overdue payments to an engineering consultant, with repayment ongoing into 2026.
Contract Details
Contract Amount
$50,000 (interest free loan)
Vendor
SWAIN MEMORIAL UNITED METHODIST CHURCH
Agency
Town of Tangier, VA
Contract Type
FINANCIAL_SERVICES
Document Date
March 1, 2026
Contract Term
Loan executed April 2025; repayment ongoing, $25,000 outstanding as of March 2026
Renewal Info
Repayment in $5,000 monthly installments; $25,000 has been repaid as of March 2026, $25,000 outstanding.
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Virginia Department of Housing and Community Development Town of Tangier Fiscal Distress Report March 2026
Virginia Department of Housing and Community Development Town of Tangier Fiscal Distress Report March 2026
Virginia Department of Housing and Community Development Town of Tangier Fiscal Distress Report March 2026
Virginia Department of Housing and Community Development Town of Tangier Fiscal Distress Report March 2026
Virginia Department of Housing and Community Development Town of Tangier Fiscal Distress Report March 2026
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