FINANCIAL_SERVICESPENDING

Ion Bank Proposes $17.1 Million Construction Financing

Ion Bank proposed up to approximately $17.1 million in construction-to-permanent financing for the Harrison Avenue mixed-use project. The proposal contemplated a 24-month interest-only construction period, up to two six-month extensions and a 10-year overall term, subject to underwriting and formal commitment.

Document date · August 20, 2026

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

Scope & details

The full contract record, as filed.

Contract amount
Lesser of $17.1 million, 75% of stabilized value, 65% loan to cost, or 1.20x coverage ratio
Contract type
FINANCIAL_SERVICES
Contract term
10 years, including a 24-month interest-only construction period with up to two 6-month extensions
Renewal
Up to two six-month construction-period extensions, each subject to a 10-basis-point extension fee. Proposal was subject to underwriting, due diligence and formal bank approval.
Document type
Agreement
Source document
Borough of Waldwick Agreement Harrison Avenue Redevelopment Project 2026-08-20

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Borough of Waldwick?

Ion Bank was awarded this financial services contract by Borough of Waldwick, as recorded on August 20, 2026. The contract value is Lesser of $17.1 million, 75% of stabilized value, 65% loan to cost, or 1.20x coverage ratio.

How much is the Ion Bank contract with Borough of Waldwick worth?

The Ion Bank contract with Borough of Waldwick is valued at Lesser of $17.1 million, 75% of stabilized value, 65% loan to cost, or 1.20x coverage ratio, covering financial services work.

What type of contract is this?

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

Where was this contract approved?

This contract appears in Borough of Waldwick Agreement Harrison Avenue Redevelopment Project 2026-08-20 (Agreement), dated August 20, 2026 from Borough of Waldwick. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Ion Bank hold?

Ion Bank may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

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