City of Shelby Awards Financial Services Contract to Fidelity Bank (November 2025)
City of ShelbyCity · Shelby, NC- Disclosed value
- Not to exceed $5,500,000
- From agenda
- Approved
- Nov 17, 2025
- Term
- 120 months from closing (10 years)
The 30-second brief
The Shelby City Council approved a financing agreement with Fidelity Bank for up to $5.5 million over 10 years at an interest rate not exceeding 2.00% to purchase the Norfolk Southern rail corridor. This new agreement supersedes a prior smaller loan and will be partially repaid upon receipt of a $4.16 million NCDOT reimbursement.
Fidelity Bank holds this financial services contract with City of Shelby. Its other public contracts on record include work for Wyoming Area SD and Roberto Clemente CS.
Term as filed: 120 months from closing (10 years).
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Contract details
- Contract type
- Financial Services
- Amount
- Not to exceed $5,500,000
- Document date
- November 17, 2025
- Term
- 120 months from closing (10 years)
- Vendor
- Fidelity Bank
- Agency
- City of Shelby
- Source document
- shelby_city_council_regular_meeting_agenda_novembe.pdf (Agenda)
Fidelity Bank's other public contracts
More City of Shelby contracts
Questions about this contract
Who was awarded the financial services contract by City of Shelby?
Fidelity Bank was awarded this financial services contract by City of Shelby, as recorded on November 17, 2025. The contract value is Not to exceed $5,500,000.
How much is the Fidelity Bank contract with City of Shelby worth?
The Fidelity Bank contract with City of Shelby is valued at Not to exceed $5,500,000, covering financial services work.
What type of contract is this?
This is a Financial Services contract, documented as a agenda record, structured as a not-to-exceed (ceiling) agreement.
Where was this contract approved?
This contract appears in shelby_city_council_regular_meeting_agenda_novembe.pdf (Agenda), dated November 17, 2025 from City of Shelby. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does Fidelity Bank hold?
Fidelity Bank 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 Shelby currently buying?
Explore City of Shelby's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.