FINANCIAL_SERVICESPENDING

Ion Bank Offers $17.1M Construction-to-Perm Financing

Ion Bank proposed a construction-to-permanent loan structure for the Harrison Avenue mixed-use redevelopment in Waldwick, offering up to about $17.1 million based on value and cost constraints. The financing would feature a 24-month interest-only construction period, optional extensions, and a 10-year permanent mortgage term subject to full underwriting and conditions.

Document date · September 2, 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
The lesser of $17,100,000 or 75% as-stabilized value or 65% loan-to-cost or 1.20x DSCR
Contract type
FINANCIAL_SERVICES
Contract term
24-month interest-only construction period with up to two 6-month extensions; 10-year permanent term with 30-year amortization
Renewal
Proposal allows up to two 6-month extensions of the construction period and includes tri-annual rate resets during the 10-year permanent term; no automatic renewal beyond the stated term is provided.
Document type
AgendaPacket
Source document
Borough of Waldwick Special Meeting Agenda Packet 2026-09-08

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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 September 2, 2026. The contract value is The lesser of $17,100,000 or 75% as-stabilized value or 65% loan-to-cost or 1.20x DSCR.

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

The Ion Bank contract with Borough of Waldwick is valued at The lesser of $17,100,000 or 75% as-stabilized value or 65% loan-to-cost or 1.20x DSCR, covering financial services work.

What type of contract is this?

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

Where was this contract approved?

This contract appears in Borough of Waldwick Special Meeting Agenda Packet 2026-09-08 (AgendaPacket), dated September 2, 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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