Marriott Hotel Project Backed by EDA TIF Note
City of OwatonnaCity · Owatonna, MN- Disclosed value
- $268,000.00 original; $268,000.00 current balance
- From agenda
- Document date
- May 21, 2025
- Term
- 25 years from 5/18/2021
- Renews
- Free account
The 30-second brief
The EDA supports a Marriott hotel project through a TIF note dated May 18, 2021 for $268,000 at 3% over 25 years, with the full principal still outstanding and the note current. This financing structure leverages tax increment revenues to support project costs.
MARRIOTT holds this financial services contract with City of Owatonna. Its other public contracts on record include work for San Mateo County MVCD and Inland Valley Development Agency.
The renewal date is on record. A free account shows it, with the renewals for every City of Owatonna contract.
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Contract details
- Contract type
- Financial Services
- Amount
- $268,000.00 original; $268,000.00 current balance
- Document date
- May 21, 2025
- Term
- 25 years from 5/18/2021
- Renews
- Free account
- Vendor
- MARRIOTT
- Agency
- City of Owatonna
- Source document
- city-of-owatonna-economic-development-authority-meeting-agenda-may-21-2025_1d1.pdf (Agenda)
MARRIOTT's other public contracts
More City of Owatonna contracts
Questions about this contract
Who was awarded the financial services contract by City of Owatonna?
MARRIOTT was awarded this financial services contract by City of Owatonna, as recorded on May 21, 2025. The contract value is $268,000.00 original; $268,000.00 current balance.
How much is the MARRIOTT contract with City of Owatonna worth?
The MARRIOTT contract with City of Owatonna is valued at $268,000.00 original; $268,000.00 current balance, covering financial services work.
What type of contract is this?
This is a Financial Services contract, documented as a agenda record.
Where was this contract approved?
This contract appears in city-of-owatonna-economic-development-authority-meeting-agenda-may-21-2025_1d1.pdf (Agenda), dated May 21, 2025 from City of Owatonna. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does MARRIOTT hold?
MARRIOTT 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 Owatonna currently buying?
Explore City of Owatonna's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.