FINANCIAL_SERVICESEXTENDED

MURD Line of Credit Extended to August 31, 2025

The Madras Redevelopment Commission approved Resolution MRC 2025-04 to extend the Madras Urban Renewal District’s $2,400,000 line of credit originally obtained from Bank of the Cascades to August 31, 2025 while maintaining a variable interest rate of prime minus one percent. The extension supports ongoing downtown corridor revitalization projects.

Document date · June 10, 2025

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Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo

Scope & details

The full contract record, as filed.

Contract amount
$2,400,000 line of credit
Contract type
FINANCIAL_SERVICES
Contract term
Extended from June 30, 2025 to August 31, 2025
Renewal date
2025-08-31
Renewal
Line of credit first established in 2015 and extended multiple times; current action continues the facility through 2025-08-31 with unchanged variable rate and confirmed principal limit.
Document type
AgendaPacket
Source document
Madras City Council and Redevelopment Commission Agenda Packet 2025-06-10

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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 Madras?

Bank of the Cascades was awarded this financial services contract by City of Madras, as recorded on June 10, 2025. The contract value is $2,400,000 line of credit.

How much is the Bank of the Cascades contract with City of Madras worth?

The Bank of the Cascades contract with City of Madras is valued at $2,400,000 line of credit, covering financial services work.

What type of contract is this?

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

Where was this contract approved?

This contract appears in Madras City Council and Redevelopment Commission Agenda Packet 2025-06-10 (AgendaPacket), dated June 10, 2025 from City of Madras. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Bank of the Cascades hold?

Bank of the Cascades may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

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