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FINANCIAL_SERVICESAPPROVED

Board of Apportionment & Taxation Regular Meeting Minutes June 1, 2026

Board Approves US Bank for Fuel Cell Project Financing

$1,555,458.00 (interest payments for first year); City plans to borrow $4,750,000.00City of AnsoniaUS BANKJune 1, 2026

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Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo

Description

The Board approved payments to US Bank totaling $1,555,458.00 for interest as temporary funding related to the city's new fuel cell project. Funds will support project initiation, with borrowing of $4.75 million planned and payment structured as interest-only in the first year. The project is expected to run one to two years until the equipment is installed and operational.

Contract Details

Contract Amount

$1,555,458.00 (interest payments for first year); City plans to borrow $4,750,000.00

Vendor

US BANK

Agency

City of Ansonia, CT

Contract Type

FINANCIAL_SERVICES

Document Date

June 1, 2026

Contract Term

First year for interest only, estimated project duration 1-2 years

Renewal Date

2027-06-01

Renewal Info

First year interest only; full borrowing of $4.75M expected with potential for future renewals as project phases complete.

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