RDC Amends $1.2M Loan to Richmond Housing Authority

Scope & details

The full contract record, as filed.

Contract amount

Increase in principal from $1,000,000 to $1,200,000 (total amended principal $1,200,000)

Contract type

FINANCIAL_SERVICES

Contract term

Annual payments from October 1, 2026 through October 1, 2041 (15 years)

Renewal date

2041-10-01

Renewal

Existing promissory note dated September 19, 2025 is amended to increase the principal to $1,200,000, extend the term to 15 years with annual payments starting October 1, 2026, change interest accrual terms, require all draws by September 1, 2026, and replace the original scope of work with the updated Exhibit C.

Document type

Resolution

Source document

Richmond Development Corporation Resolution 2026-03 Amendment of Promissory Note

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Richmond Redevelopment & Housing Authority?

Richmond Redevelopment & Housing Authority was awarded this financial services contract by Richmond Redevelopment & Housing Authority, as recorded on April 14, 2026. The contract value is Increase in principal from $1,000,000 to $1,200,000 (total amended principal $1,200,000).

How much is the Richmond Redevelopment & Housing Authority contract with Richmond Redevelopment & Housing Authority worth?

The Richmond Redevelopment & Housing Authority contract with Richmond Redevelopment & Housing Authority is valued at Increase in principal from $1,000,000 to $1,200,000 (total amended principal $1,200,000), covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a resolution record.

Where was this contract approved?

This contract appears in Richmond Development Corporation Resolution 2026-03 Amendment of Promissory Note (Resolution), dated April 14, 2026 from Richmond Redevelopment & Housing Authority. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Richmond Redevelopment & Housing Authority hold?

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