City backs DD RLF application for SOWEGA project

The commission agenda features a conditional resolution supporting a Downtown Development Revolving Loan Fund award application for the 304 N. Washington Street project on behalf of SOWEGA QOF One QOZB I, LLC. The city endorses DDA's submission of the loan application tied to Award #25DD-NR-047-10639.

Document date · March 25, 2025

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Scope & details

The full contract record, as filed.

Contract type

FINANCIAL_SERVICES

Document type

Agenda

Source document

City of Albany Agenda Regular Meeting Board of City Commissioners 2025-03-25

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City of Albany Board of City Commissioners Agenda Packet 2026-09-01

PENDING

City of Albany, Georgia$1,500,000 DDA Loan at 3.0% interest plus 2% financing feeSep 1, 2026

City of Albany Board of City Commissioners Regular Meeting Agenda March 25, 2025

APPROVED

City of Albany, Georgia$250,000 (loan amount from DDA)Mar 25, 2025

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by City of Albany?

Sowega Qof One Qozb I Llc was awarded this financial services contract by City of Albany, as recorded on March 25, 2025.

What type of contract is this?

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

Where was this contract approved?

This contract appears in City of Albany Agenda Regular Meeting Board of City Commissioners 2025-03-25 (Agenda), dated March 25, 2025 from City of Albany. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

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