City of Kokomo Awards Financial Services Contract to St. Joan Apartments Llc (September 2026)

Kokomo approved legal agreements with St. Joan Apartments, LLC for a forgivable economic-development loan of up to $1.2 million. The financing will support redevelopment of the former St. Joan campus into approximately 43 apartments, commercial space, and ADA-accessible housing, with forgiveness possible after five years if conditions are met.

Document date · September 28, 2026

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Scope & details

The full contract record, as filed.

Contract amount

Not to exceed $1,200,000

Contract type

FINANCIAL_SERVICES

Contract term

Matures no later than five years from delivery; loan may be forgiven after five years if project completion, continuous operation, and compliance conditions are met

Renewal

Loan is subject to forgiveness after five years upon satisfaction of project conditions; secured by a junior mortgage released upon issuance of the final certificate of occupancy.

Document type

AgendaPacket

Source document

Kokomo City Council AgendaPacket September 28, 2026

Frequently asked questions

Common questions about this contract, answered from the record.

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

St. Joan Apartments Llc was awarded this financial services contract by City of Kokomo, as recorded on September 28, 2026. The contract value is Not to exceed $1,200,000.

How much is the St. Joan Apartments Llc contract with City of Kokomo worth?

The St. Joan Apartments Llc contract with City of Kokomo is valued at Not to exceed $1,200,000, 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 Kokomo City Council AgendaPacket September 28, 2026 (AgendaPacket), dated September 28, 2026 from City of Kokomo. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does St. Joan Apartments Llc hold?

St. Joan Apartments 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 St. Joan Apartments Llc's profile

What is City of Kokomo currently buying?

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

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