City of Cumming Awards Financial Services Contract to Mb Main Investments Llc (April 2024)

Scope & details

The full contract record, as filed.

Contract amount

Not to exceed $2,800,000 in payments plus Grant up to $125,000 and Admin Fees up to $10,000 (total commitment not to exceed $2,935,000, plus interest)

Contract type

FINANCIAL_SERVICES

Contract term

Term commencing Commencement Date in 2024 and ending no later than June 1, 2047; payments for each phase not to exceed 15 fiscal years

Renewal date

2047-06-01

Renewal

Agreement term runs until June 1, 2047 or until aggregate payments reach $2,800,000. Payments are subject to annual appropriation; City may withhold payments if not appropriated. Developer may assign payment rights to a lender as security. No automatic renewal beyond stated term.

Document type

AgendaPacket

Source document

Cumming City Council AgendaPacket 2024-04-22

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Frequently asked questions

Common questions about this contract, answered from the record.

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

Mb Main Investments Llc was awarded this financial services contract by City of Cumming, as recorded on April 22, 2024. The contract value is Not to exceed $2,800,000 in payments plus Grant up to $125,000 and Admin Fees up to $10,000 (total commitment not to exceed $2,935,000, plus interest).

How much is the Mb Main Investments Llc contract with City of Cumming worth?

The Mb Main Investments Llc contract with City of Cumming is valued at Not to exceed $2,800,000 in payments plus Grant up to $125,000 and Admin Fees up to $10,000 (total commitment not to exceed $2,935,000, plus interest), covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a agendapacket record, structured as a not-to-exceed (ceiling) agreement.

Where was this contract approved?

This contract appears in Cumming City Council AgendaPacket 2024-04-22 (AgendaPacket), dated April 22, 2024 from City of Cumming. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Mb Main Investments Llc hold?

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

View Mb Main Investments Llc's profile

What is City of Cumming currently buying?

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

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