FINANCIAL_SERVICESAPPROVED

Town of Fairmont Awards Financial Services Contract to Deerwood Bank (July 2026)

The City of Fairmont executed a consent to leasehold mortgage allowing Deerwood Bank to finance up to $400,000 for Advantage Aviation’s hangar project at Fairmont Municipal Airport. The consent recognizes Deerwood Bank as leasehold mortgagee under the City’s ground lease.

Status
APPROVED
Document date
July 26, 2026
Contract type
FINANCIAL_SERVICES
Vendor
Deerwood Bank
Agency
Town of Fairmont · MN

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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
Maximum indebtedness secured by mortgage: $400,000.00
Contract type
FINANCIAL_SERVICES
Contract term
Construction mortgage and leasehold mortgage term tied to Advantage Aviation’s financing; term not specified
Renewal
Construction mortgage and leasehold mortgage relate to the 30-year ground lease; renewal or extension terms are governed by the private loan documents, not specified in the City’s consent.
Document type
AgendaPacket
Source document
City of Fairmont Agenda Packet 2026-07-27

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Town of Fairmont?

Deerwood Bank was awarded this financial services contract by Town of Fairmont, as recorded on July 26, 2026. The contract value is Maximum indebtedness secured by mortgage: $400,000.00.

How much is the Deerwood Bank contract with Town of Fairmont worth?

The Deerwood Bank contract with Town of Fairmont is valued at Maximum indebtedness secured by mortgage: $400,000.00, 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 City of Fairmont Agenda Packet 2026-07-27 (AgendaPacket), dated July 26, 2026 from Town of Fairmont. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Deerwood Bank hold?

Deerwood 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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What is Town of Fairmont currently buying?

Explore Town of Fairmont's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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