City of Beatrice Minutes Regular City Council Meeting 2026-05-18
Council Approves Assumption Agreement in Revitalization Loan
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Description
The City Council approved Resolution 7798 executing an Assumption Agreement, including assumption of a personal guaranty and promissory note involving Hydo Properties, LLC and the Yorks, under the Beatrice Downtown Revitalization Improvement Program. The action transfers financial obligations while maintaining the program’s support for the property.
Contract Details
Vendor
HYDO PROPERTIES LLC
Agency
Town of Beatrice, AL
Contract Type
FINANCIAL_SERVICES
Document Date
May 18, 2026
Renewal Info
Assumption modifies parties responsible under the existing promissory note and guaranty; no new term or renewal period is specified.
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