City of Borger City Council Meeting Minutes 2026-05-19
Loan Agreement with 7:12 General Contractors for Housing
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Description
Borger Economic Development Corporation was authorized to loan $200,000 at 7.75% interest to 7:12 General Contractors, LLC for continued residential development in Yucca Estates Unit No. 5. The loan is secured and will be paid over five years.
Contract Details
Contract Amount
$200,000.00 loan at 7.75% interest
Vendor
7:12 GENERAL CONTRACTORS LLC
Agency
City of Borger, TX
Contract Type
FINANCIAL_SERVICES
Document Date
May 19, 2026
Contract Term
Five years, monthly payments
Renewal Date
2031-05-19
Renewal Info
Monthly payments for 5 years; secured by lots and owner's guaranty.
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