Nebraska Investment Finance Authority Board of Directors Meeting April 2026
Legacy Bank named bond purchaser for Chambers Court
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Description
As part of the Chambers Court financing, Legacy Bank is identified as bond purchaser for the initial private placement of up to $20.3 million in NIFA multifamily housing revenue bonds, prior to a forward purchase by Cedar Rapids Bank and Trust. The arrangement provides interim financing during construction and rehabilitation.
Contract Details
Contract Amount
Not to exceed $20,300,000 (Chambers Court Bonds)
Vendor
LEGACY BANK
Agency
Nebraska Investment Finance Authority, NE
Contract Type
FINANCIAL_SERVICES
Document Date
April 10, 2026
Contract Term
Initial bond purchaser role until completion of construction, rehabilitation, and conversion, after which Cedar Rapids Bank and Trust may purchase the bonds; bonds mature not later than 40 years from issuance or April 1, 2056
Renewal Date
2056-04-01
Renewal Info
Initial private placement role for Chambers Court bonds; after project completion, bonds may be transferred to Cedar Rapids Bank and Trust. No additional renewal provisions are specified.
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