Crescent Shores Brownfield Reimbursement Ongoing
City of HollandCity · Holland, MI- Disclosed value
- $1,596,043 eligible costs plus $616,487 interest (total $2,212,530); outstanding balance owed to developer $950,601.19 as of 06/30/2020
- From agenda
- Document date
- Jul 27, 2020
The 30-second brief
Crescent Shores at 561 Crescent Drive remains under its 15‑year Brownfield reimbursement agreement, covering over $1.59 million in eligible costs plus interest at 5%. As of June 2020, nearly $951,000 in principal and interest is still owed to the developer via TIF revenues.
Crescent Shores holds this contract with City of Holland.
Term as filed: 15 years (approved 2008; 11 years remaining after 2019).
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Contract details
- Amount
- $1,596,043 eligible costs plus $616,487 interest (total $2,212,530); outstanding balance owed to developer $950,601.19 as of 06/30/2020
- Document date
- July 27, 2020
- Term
- 15 years (approved 2008; 11 years remaining after 2019)
- Vendor
- Crescent Shores
- Agency
- City of Holland
- Source document
- city_of_holland_brownfield_authority_council_chamb.pdf (Agenda)
Crescent Shores's other public contracts
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Questions about this contract
Who was awarded the government contract by City of Holland?
Crescent Shores was awarded this government contract by City of Holland, as recorded on July 27, 2020. The contract value is $1,596,043 eligible costs plus $616,487 interest (total $2,212,530); outstanding balance owed to developer $950,601.19 as of 06/30/2020.
How much is the Crescent Shores contract with City of Holland worth?
The Crescent Shores contract with City of Holland is valued at $1,596,043 eligible costs plus $616,487 interest (total $2,212,530); outstanding balance owed to developer $950,601.19 as of 06/30/2020.
What type of contract is this?
This is a government contract, documented as a agenda record, structured as a not-to-exceed (ceiling) agreement.
Where was this contract approved?
This contract appears in city_of_holland_brownfield_authority_council_chamb.pdf (Agenda), dated July 27, 2020 from City of Holland. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does Crescent Shores hold?
Crescent Shores may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.
What is City of Holland currently buying?
Explore City of Holland's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.