AACOG Plans Mortgage Refinance With Schertz Bank & Trust

Scope & details

The full contract record, as filed.

Contract amount

Principal reduction payment of between $2–5 million (staff preference $5 million); outstanding loan balance to be reduced to approximately $5.5 million; projected unrestricted fund balance approximately $10.5–$15 million

Contract type

FINANCIAL_SERVICES

Contract term

Existing loan refinanced in May 2026 for a five (5) year term at an interest rate of approximately 4.95% with a 25-year amortization

Renewal date

2031-05-31

Renewal

Existing mortgage with Schertz Bank & Trust will be refinanced in May 2026 into a new five‑year term at approximately 4.95% interest with 25‑year amortization; recommendation includes a one‑time principal reduction payment of $2–5 million, preferably $5 million.

Document type

Agenda

Source document

Alamo Area Council of Governments Executive Committee Meeting April 2026

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Alamo Area Housing Finance Corporation?

Schertz Bank & Trust was awarded this financial services contract by Alamo Area Housing Finance Corporation, as recorded on April 15, 2026. The contract value is Principal reduction payment of between $2–5 million (staff preference $5 million); outstanding loan balance to be reduced to approximately $5.5 million; projected unrestricted fund balance approximately $10.5–$15 million.

How much is the Schertz Bank & Trust contract with Alamo Area Housing Finance Corporation worth?

The Schertz Bank & Trust contract with Alamo Area Housing Finance Corporation is valued at Principal reduction payment of between $2–5 million (staff preference $5 million); outstanding loan balance to be reduced to approximately $5.5 million; projected unrestricted fund balance approximately $10.5–$15 million, covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a agenda record.

Where was this contract approved?

This contract appears in Alamo Area Council of Governments Executive Committee Meeting April 2026 (Agenda), dated April 15, 2026 from Alamo Area Housing Finance Corporation. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Schertz Bank & Trust hold?

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