City of Jacksonville Awards $5,000,000 Development Loan Contract to Vestcor Companies (November 2022)
City of JacksonvilleCity · Jacksonville, FL- Disclosed value
- $5,000,000
- From minutes
- Approved
- Nov 1, 2022
- Term
- 17 years
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THE 30-SECOND BRIEF
Authorizes a $5 million Development Loan to The Vestcor Companies Inc. for construction of a 240-unit apartment community located at 8300 Merrill Road. The Development Loan will have a 17-year term with 1% interest per year with interest-only payments through maturity and a balloon principal payment at the end of the term.
Vestcor Companies holds this development loan contract with City of Jacksonville. Its other public contracts on record include work for Duval County.
Term as filed: 17 years.
Contract details
- Contract type
- Development Loan
- Amount
- $5,000,000
- Document date
- November 1, 2022
- Term
- 17 years
- Vendor
- Vestcor Companies
- Agency
- City of Jacksonville
- Source document
- city_of_jacksonville_finance_committee_meeting_min.pdf (Minutes)
Vestcor Companies's other public contracts
More City of Jacksonville contracts
Questions about this contract
Who was awarded the development loan contract by City of Jacksonville?
Vestcor Companies was awarded this development loan contract by City of Jacksonville, as recorded on November 1, 2022. The contract value is $5,000,000.
How much is the Vestcor Companies contract with City of Jacksonville worth?
The Vestcor Companies contract with City of Jacksonville is valued at $5,000,000, covering development loan work.
What type of contract is this?
This is a Development Loan contract, documented as a minutes record.
Where was this contract approved?
This contract appears in city_of_jacksonville_finance_committee_meeting_min.pdf (Minutes), dated November 1, 2022 from City of Jacksonville. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does Vestcor Companies hold?
Vestcor Companies 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 Jacksonville currently buying?
Explore City of Jacksonville's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.