FINANCIAL_SERVICESONGOING

GEFA Commits Future Low-Rate Loan for Creek Project

The Georgia Environmental Finance Authority will close Statesboro’s largely unused $15.5 million Creek on Blue Mile line of credit, with about $6,000 to be repaid, but has committed to provide a future 30-year construction loan at the original 2.25% rate. GEFA will also continue funding approximately $5 million in engineering costs through an existing grant.

Status
ONGOING
Document date
May 19, 2026
Contract type
FINANCIAL_SERVICES
Vendor
Georgia Environmental Finance Authority (gefa)
Agency
City of Statesboro · GA

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TerraCycle logo
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WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
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IANS Research logo

Scope & details

The full contract record, as filed.

Contract amount
$15,500,000 line of credit at 2.25% interest for future construction financing; approximately $6,000 currently outstanding to be repaid
Contract type
FINANCIAL_SERVICES
Contract term
Original line of credit established in 2019; future construction loan to be 30-year term at 2.25% once project proceeds
Renewal
Original line of credit had previously been extended once but will now be closed; GEFA informally committed to reissue financing as a 30-year, 2.25% construction loan when the City proceeds. No further extensions of the current line will be granted.
Document type
Minutes
Source document
City of Statesboro Work Session Minutes 2026-05-19

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by City of Statesboro?

Georgia Environmental Finance Authority (gefa) was awarded this financial services contract by City of Statesboro, as recorded on May 19, 2026. The contract value is $15,500,000 line of credit at 2.25% interest for future construction financing; approximately $6,000 currently outstanding to be repaid.

How much is the Georgia Environmental Finance Authority (gefa) contract with City of Statesboro worth?

The Georgia Environmental Finance Authority (gefa) contract with City of Statesboro is valued at $15,500,000 line of credit at 2.25% interest for future construction financing; approximately $6,000 currently outstanding to be repaid, covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a minutes record, structured as a not-to-exceed (ceiling) agreement.

Where was this contract approved?

This contract appears in City of Statesboro Work Session Minutes 2026-05-19 (Minutes), dated May 19, 2026 from City of Statesboro. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Georgia Environmental Finance Authority (gefa) hold?

Georgia Environmental Finance Authority (gefa) 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 Georgia Environmental Finance Authority (gefa)'s profile

What is City of Statesboro currently buying?

Explore City of Statesboro's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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