City of Dundee City Council Meeting Agenda April 7 2026
City formalizes repayment structure for OTIB loan
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Description
The City of Dundee continues to service a $1,387,433 Oregon Transportation Infrastructure Bank loan for SW 9th Street improvements at 2.77% interest through December 2033. A new intergovernmental agreement will formalize Dundee Urban Renewal Agency’s obligation to repay the City using tax increment revenues.
Contract Details
Contract Amount
$1,387,433
Vendor
OREGON TRANSPORTATION INFRASTRUCTURE BANK
Agency
City of Dundee, OR
Contract Type
FINANCIAL_SERVICES
Document Date
April 7, 2026
Contract Term
Loan dated November 16, 2023 with payments through December 1, 2033 (10-year term)
Renewal Date
2033-12-01
Renewal Info
Fixed 10-year loan with scheduled amortization through December 1, 2033; no renewal options noted.
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