Alamo Area Council of Governments Executive Committee Meeting April 2026

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

Vendor

SCHERTZ BANK & TRUST

Agency

Alamo Area Housing Finance Corporation, TX

Contract Type

FINANCIAL_SERVICES

Document Date

April 15, 2026

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 Info

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.