City of Lowell Budget Committee Agenda and Proposed Budget FY 2026-27 2026-05-20
Business Oregon Pioneer Street Loan Remains in Repayment
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Description
Lowell maintains its Business Oregon loan for the Pioneer Street water and sewer relocation, with about $52,317 in principal outstanding at 5.17% interest. The loan, originally $200,000, is supported in the FY 2026-27 budget with full debt service funding through its 2029 maturity.
Contract Details
Contract Amount
$200,000 (original principal); outstanding principal $52,317 as of June 30, 2026
Vendor
BUSINESS OREGON
Agency
City of Lowell, OR
Contract Type
FINANCIAL_SERVICES
Document Date
May 20, 2026
Contract Term
Issue date not stated; matures 12/01/2029
Renewal Date
2029-12-01
Renewal Info
No renewal terms indicated; amortizing loan scheduled to mature December 1, 2029.
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