Vernal City Council Agenda January 2026
CIB Awards $3.4 Million Road Rehabilitation Funding
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Description
Permanent Community Impact Fund Board awarded Vernal City a $1.7 million grant and a $1.7 million, 10-year, low-interest loan for major roadway rehabilitation. Funding covers all aspects of street improvement in Vernal.
Contract Details
Contract Amount
$1,700,000 grant and $1,700,000 loan (total $3,400,000)
Vendor
PERMANENT COMMUNITY IMPACT FUND BOARD
Agency
City of Vernal, UT
Contract Type
FINANCIAL_SERVICES
Document Date
January 21, 2026
Contract Term
Loan matures over 10 years, payments due Feb 1 annually, commencing 2028; grant and loan awarded January 8, 2026
Renewal Date
2037-02-01
Renewal Info
10-year loan repayments, fixed term. Not subject to renewal, principal due annually.
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