Clarkfield EDA Regular Meeting Agenda April 27, 2026
EDA Revolving Loan Tied to Bailey Building Transfer
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Description
The Clarkfield EDA reports an outstanding revolving loan to Bailey's Custom Cap with a current balance of $13,372.00 and monthly payments of $100. The City and EDA plan to accept the Bailey building in exchange for forgiving this loan, with a quit claim deed and mortgage satisfaction being prepared.
Contract Details
Contract Amount
$18,872.30 original; $13,372.00 current balance
Vendor
BAILEY'S CUSTOM CAP
Agency
HRA OF CLARKFIELD, MINNESOTA, MN
Contract Type
FINANCIAL_SERVICES
Document Date
April 26, 2026
Renewal Info
Loan originated 1/4/2006 and was extended on 2/26/2018; Council has agreed to accept the Bailey building in exchange for forgiving the Bailey loan, with a mortgage satisfaction to be executed.
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Related Contracts
Clarkfield EDA Regular Meeting Agenda March 2026
ONGOINGclarkfield-economic-development-authority-agenda-august-25-2025_e5b.pdf
ONGOINGcity-of-clarkfield-eda-regular-meeting-agenda-july-28-2025_288.pdf
ONGOINGhra-of-clarkfield-minnesota-meeting-minutes-2024-05-28_293.pdf
ONGOINGMore from HRA OF CLARKFIELD, MINNESOTA
Clarkfield EDA Regular Meeting Agenda April 27, 2026
Clarkfield EDA Regular Meeting Agenda April 27, 2026
Clarkfield EDA Regular Meeting Agenda April 27, 2026
Clarkfield EDA Regular Meeting Agenda April 27, 2026
Clarkfield EDA Regular Meeting Agenda April 27, 2026
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