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$384K Brownfield Loan Approved for Novi Properties

City of Lansing logoCity of Lansing
Disclosed value
$384,128
From agenda
Document date
Aug 8, 2025
Term
30 years

The 30-second brief

What it covers

LBRA approves $384,128 Accelerated Reimbursement Loan for Novi Properties LLC for Brownfield Plan #86, to be repaid from future Tax Increment Revenues over 30 years. The loan supports upfront developer funded Eligible Activities.

Who holds it

Novi Properties holds this loan contract with City of Lansing.

What happens next

Term as filed: 30 years.

See who signed off on this $384.1K contract.

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Contract details

Contract type
Loan
Amount
$384,128
Document date
August 8, 2025
Term
30 years
Vendor
Novi Properties
Agency
City of Lansing
Source document
lansing-brownfield-redevelopment-authority-board-of-directors-meeting-agenda_4e9.pdf (Agenda)

Novi Properties's other public contracts

City of Lansing, MichiganNovi Properties Brownfield Plan #86 Approved · Jul 28, 2025UndisclosedCity of Lansing, MichiganNovi Properties Brownfield Plan for W. Miller Rd. Approved · Jul 28, 2025City of Lansing, MichiganNovi Properties awarded 30-year Brownfield Plan for redevelopment · Jul 23, 2025UndisclosedCity of Lansing, MichiganNovi Properties, LBRA signs $3.8M redevelopment contract · Jun 11, 2025$3.8MCity of Lansing, MichiganNovi Properties Aims for Brownfield Plan Approval · Jun 11, 2025$439.5KAll Novi Properties contractsVendor profile

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Questions about this contract

Who was awarded the loan contract by City of Lansing?

Novi Properties was awarded this loan contract by City of Lansing, as recorded on August 8, 2025. The contract value is $384,128.

How much is the Novi Properties contract with City of Lansing worth?

The Novi Properties contract with City of Lansing is valued at $384,128, covering loan work.

What type of contract is this?

This is a Loan contract, documented as a agenda record.

Where was this contract approved?

This contract appears in lansing-brownfield-redevelopment-authority-board-of-directors-meeting-agenda_4e9.pdf (Agenda), dated August 8, 2025 from City of Lansing. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

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What other contracts does Novi Properties hold?

Novi Properties may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

What is City of Lansing currently buying?

Explore City of Lansing's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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