City Amends ARP Housing Agreement With LRS Enterprises

The City of Muskegon amended its construction and development agreement with LRS Enterprises to incorporate a $750,000 Priority Related Investment Loan from the Community Foundation for Muskegon County. The loan will finance the developer’s portion of six ARP-funded infill homes, with repayment from home sales and excess profits directed to the Public Improvement Fund.

Document date · November 7, 2022

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Scope & details

The full contract record, as filed.

Contract amount

$750,000

Contract type

CONSTRUCTION

Renewal

Updated purchase agreement and Act 99 Installment Purchase Agreement will return for final approval and signatures. Loan interest is prime plus 2% with a 0.5% increase effective 2023-01-01; repaid as homes are sold.

Document type

Minutes

Source document

City of Muskegon Minutes City Commission Meeting 2022-11-07

Related contracts

Other contracts from Lrs Enterprises.

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City of Muskegon City Commission Meeting Agenda 2023-05-23

AWARDED

City of Muskegon, Michigan$15,075.00May 23, 2023

City of Muskegon Minutes City Commission Meeting 2023-04-25

APPROVED

City of Muskegon, Michigan$15,075.00Apr 25, 2023

City of Muskegon City Commission Meeting Agenda 2023-04-25

PENDING

City of Muskegon, MichiganApr 25, 2023

City of Muskegon Agenda 2022-11-22

ONGOING

City of Muskegon, Michigan$1,500,000Nov 22, 2022

City of Muskegon Minutes City Commission Worksession 2022-08-08

DISCUSSED

City of Muskegon, Michigan$750,000Aug 8, 2022

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the construction contract by City of Muskegon?

Lrs Enterprises was awarded this construction contract by City of Muskegon, as recorded on November 7, 2022. The contract value is $750,000.

How much is the Lrs Enterprises contract with City of Muskegon worth?

The Lrs Enterprises contract with City of Muskegon is valued at $750,000, covering construction work.

What type of contract is this?

This is a Construction contract, documented as a minutes record.

Where was this contract approved?

This contract appears in City of Muskegon Minutes City Commission Meeting 2022-11-07 (Minutes), dated November 7, 2022 from City of Muskegon. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Lrs Enterprises hold?

Lrs Enterprises 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 Lrs Enterprises's profile

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