City of Monticello Agenda Packet 2026-06-01
La Hacienda Secures Revolving Loan for Building Upgrades
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Description
Monticello City Council approved a revolving loan agreement of up to $10,000 at 0% interest over five years with La Hacienda Mexican Restaurant LLC. Funds will support building improvements at 103 South Main Street, as part of the Downtown Rehabilitation Loan Program.
Contract Details
Contract Amount
Not to exceed $10,000; 0% interest over 5 years
Vendor
LA HACIENDA MEXICAN RESTAURANT LLC
Agency
City of Monticello, IA
Contract Type
FINANCIAL_SERVICES
Document Date
June 1, 2026
Contract Term
5 years, 0% interest loan (approved 2026-06-01)
Renewal Date
2031-06-01
Renewal Info
5-year amortized loan; no auto-renewal. Future amendments possible if repayment schedule or terms change.
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