Ely City Council Meeting Minutes February 2023
Council Approves 20-Year EDA Trailhead Mortgage Agreement
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Description
The Ely City Council approved an Agreement and 20-year Mortgage for the Trailhead project with the U.S. Department of Commerce Economic Development Administration. The action secures EDA financing tied to the trailhead property.
Contract Details
Vendor
US DEPARTMENT OF COMMERCE ECONOMIC DEVELOPMENT ADMINISTRATION
Agency
City of Ely, MN
Contract Type
FINANCIAL_SERVICES
Document Date
February 21, 2023
Contract Term
20 years
Renewal Date
2043-02-07
Renewal Info
20-year mortgage term; no renewal provisions noted in minutes.
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