River Point Commercial Redevelopment Plan Recommended for Approval
City of NorfolkCity · Norfolk, NE- Disclosed value
- Total project cost estimated at $18,522,162; TIF financing not to exceed $2,093,000 at an interest rate not to exceed 6.00%; TIF-eligible costs estimated at $2,976,900
- From agendapacket
- Document date
- Nov 2, 2026
- Renews
- Free account
The 30-second brief
The Community Development Agency recommended approval of River Point Commercial, LLC's redevelopment plan for a medical office and office/bank project in downtown Norfolk. The approximately $18.5 million project could receive up to $2.093 million in TIF financing, with construction planned for 2027 through June 2028.
River Point Commercial LLC holds this construction contract with City of Norfolk.
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Contract details
- Contract type
- Construction
- Amount
- Total project cost estimated at $18,522,162; TIF financing not to exceed $2,093,000 at an interest rate not to exceed 6.00%; TIF-eligible costs estimated at $2,976,900
- Document date
- November 2, 2026
- Term
- Construction anticipated to begin in Q1 2027 and be completed by June 30, 2028; TIF period may be up to 15 years
- Renews
- On record
- Vendor
- River Point Commercial LLC
- Agency
- City of Norfolk
- Source document
- Community Development Agency Agenda Packet November 2, 2026 (AgendaPacket)
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Questions about this contract
Who was awarded the construction contract by City of Norfolk?
River Point Commercial LLC was awarded this construction contract by City of Norfolk, as recorded on November 2, 2026. The contract value is Total project cost estimated at $18,522,162; TIF financing not to exceed $2,093,000 at an interest rate not to exceed 6.00%; TIF-eligible costs estimated at $2,976,900.
How much is the River Point Commercial LLC contract with City of Norfolk worth?
The River Point Commercial LLC contract with City of Norfolk is valued at Total project cost estimated at $18,522,162; TIF financing not to exceed $2,093,000 at an interest rate not to exceed 6.00%; TIF-eligible costs estimated at $2,976,900, covering construction work.
What type of contract is this?
This is a Construction contract, documented as a agendapacket record, structured as a not-to-exceed (ceiling) agreement.
Where was this contract approved?
This contract appears in Community Development Agency Agenda Packet November 2, 2026 (AgendaPacket), dated November 2, 2026 from City of Norfolk. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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