CONTRACTPENDING

Historical Society Awaits Decision on $200K Loan

Disclosed value: $200,000; From minutes
Document date: Jun 23, 2025
Term: 10 years

What it covers

Council is considering a $200,000 loan from the Undesignated Fund Balance to the Rockland Historical Society for the purchase of a building at 8 North Main Street. Terms of the proposed agreement include a promissory note drafted by the City Manager. The Historical society will repay the loan if the building is sold within five years, 50% if sold within ten years, and the debt will be forgiven after ten years of ownership.

Who holds it

Rockland Historical Society holds this loan contract with City of Rockland.

What happens next

Term as filed: 10 years.

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Contract details

Contract type: Loan
Amount: $200,000
Document date: June 23, 2025
Term: 10 years
Vendor: Rockland Historical Society
Agency: City of Rockland
Source document: city-of-rockland-special-meeting-minutes-june-23-2025_549.pdf (Minutes)

Rockland Historical Society's other public contracts

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Questions about this contract

Who was awarded the loan contract by City of Rockland?

Rockland Historical Society was awarded this loan contract by City of Rockland, as recorded on June 23, 2025. The contract value is $200,000.

How much is the Rockland Historical Society contract with City of Rockland worth?

The Rockland Historical Society contract with City of Rockland is valued at $200,000, covering loan work.

What type of contract is this?

This is a Loan contract, documented as a minutes record.

Where was this contract approved?

This contract appears in city-of-rockland-special-meeting-minutes-june-23-2025_549.pdf (Minutes), dated June 23, 2025 from City of Rockland. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

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What other contracts does Rockland Historical Society hold?

Rockland Historical Society 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 Rockland currently buying?

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

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