SIREPA Board of Directors Meeting Agenda November 5 2025
Connection Bank Mortgage Continues on Career Center
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Description
SIREPA continues to carry a $1,001,534 Purchase Money Loan with Connection Bank to finance the acquisition of the Career Advantage Center building in Montrose, Iowa. The loan is secured by the property and is central to the updated equity and put option calculations negotiated with LCEDG.
Contract Details
Contract Amount
$1,001,534
Vendor
CONNECTION BANK
Agency
Southeast Iowa Regional Economic And Port Authority, IA
Contract Type
FINANCIAL_SERVICES
Document Date
November 5, 2025
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APPROVEDIssuing Agency
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Special District
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