City Grants Land Option to Ambient Fuels for Methanol Plant
City of Pekin cityCity · Pekin, IL- Disclosed value
- $1,000,000 (purchase price); option payments $7,500/quarter first year, $16,750/quarter second year
- From agenda
- Approved
- Jan 27, 2025
The 30-second brief
The Pekin City Council approved Ordinance No. 4262-24/25 entering into a two-year option and sale agreement with Ambient Fuels for 47 acres at 300 Hanna Drive. Ambient Fuels will pay quarterly option fees and may purchase the property for $1 million to develop a $550 million methanol plant, with additional TIF and zoning steps anticipated.
Ambient Fuels holds this contract with City of Pekin city. Its other public contracts on record include work for Town of Pekin.
Term as filed: Two-year purchase option; project development over approximately six and a half years.
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Contract details
- Amount
- $1,000,000 (purchase price); option payments $7,500/quarter first year, $16,750/quarter second year
- Document date
- January 27, 2025
- Term
- Two-year purchase option; project development over approximately six and a half years
- Vendor
- Ambient Fuels
- Agency
- City of Pekin city
- Source document
- city-of-pekin-city-council-meeting-agenda-january-27-2025_ea6.pdf (Agenda)
Ambient Fuels's other public contracts
More City of Pekin city contracts
Questions about this contract
Who was awarded the government contract by City of Pekin city?
Ambient Fuels was awarded this government contract by City of Pekin city, as recorded on January 27, 2025. The contract value is $1,000,000 (purchase price); option payments $7,500/quarter first year, $16,750/quarter second year.
How much is the Ambient Fuels contract with City of Pekin city worth?
The Ambient Fuels contract with City of Pekin city is valued at $1,000,000 (purchase price); option payments $7,500/quarter first year, $16,750/quarter second year.
What type of contract is this?
This is a government contract, documented as a agenda record.
Where was this contract approved?
This contract appears in city-of-pekin-city-council-meeting-agenda-january-27-2025_ea6.pdf (Agenda), dated January 27, 2025 from City of Pekin city. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does Ambient Fuels hold?
Ambient Fuels 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 Pekin city currently buying?
Explore City of Pekin city's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.