Gladstone City Commission Regular Meeting Minutes March 2026
City Subordinates Facade Grant Lien to FFB Mortgage
Trusted by teams at
Description
The City Commission approved language allowing Alger Delta to renew, extend, and increase existing mortgage debt held by FFB with lien priority over the City's facade grant security interest. This action modifies the City's collateral position in relation to existing financing.
Contract Details
Vendor
FFB
Agency
Gladstone Housing Commission, MI
Contract Type
FINANCIAL_SERVICES
Document Date
March 9, 2026
Renewal Info
Proposal 1 adds explicit rights for the borrower to renew, extend, and increase mortgage debt with FFB, with such debt enjoying superior lien status over the City's security interest for the Alger Delta Facade Grant.
More from FFB
Related Contracts
Town of Westlake Agenda Packet 2026-06-25
ONGOINGTown of Westlake Agenda Packet 2026-06-25
ONGOINGTown of Westlake Agenda Packet 2026-06-25
ONGOINGTown of Westlake Agenda Packet 2026-06-25
ONGOINGjohnson_county_investment_report_4th_qtr_2025.pdf
ONGOINGMore from Gladstone Housing Commission
Gladstone Downtown Development Authority Agenda Packet 2026-06-16
Gladstone Downtown Development Authority Agenda Packet 2026-06-16
Gladstone City Commission Agenda 2026-06-08
Gladstone City Commission Agenda 2026-06-08
Gladstone City Commission Agenda 2026-06-08
Want to learn more?
Get alerts on contract renewals, new awards, and vendor activity.
Bring us your territory.
We'll show you what is forming.
See live SLED buying signals, source docs, decision-makers, contract context, and the next step into your CRM or pipeline.