CONTRACTEXTENDED

DIA Grants Six-Month Loan Extension To Vestcor

Disclosed value: Approximately $22 million balloon payment due under existing loans; From minutes
Document date: Feb 18, 2026

What it covers

The DIA approved a six-month extension on Vestcor’s City-funded loan for the Lynch and Carling buildings, deferring a roughly $22 million balloon payment. Vestcor pledged to repay the loan by September 1, 2026, preserving CRA budget plans for major downtown commitments.

Who holds it

VESTCOR holds this financial services contract with Downtown Investment Authority (DIA). Its other public contracts on record include work for Escambia County Housing Finance Authority.

What happens next

Term as filed: Six-month loan extension, with repayment committed by September 1, 2026.

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Contract details

Contract type: Financial Services
Amount: Approximately $22 million balloon payment due under existing loans
Document date: February 18, 2026
Term: Six-month loan extension, with repayment committed by September 1, 2026
Vendor: VESTCOR
Agency: Downtown Investment Authority (DIA)
Source document: Downtown Investment Authority Meeting Minutes 2026-02-18 (Minutes)

VESTCOR's other public contracts

Downtown Investment Authority (DIA), FloridaDIA extends Vestcor loan for Lynch and Carling · Mar 18, 2026 Escambia County Housing Finance Authority, FloridaVestcor Pursues Tax Credits for Olive Road Project · Sep 9, 2025Undisclosed Downtown Investment Authority (DIA), FloridaDIA approves LaVilla land exchange with Vestcor · Aug 20, 2025Undisclosed Downtown Investment Authority (DIA), FloridaDIA Approves LaVilla Land Exchange with Vestcor · Aug 20, 2025Undisclosed Downtown Investment Authority (DIA), FloridaDIA Approves Land Swap Agreement with Vestcor · Aug 14, 2025Undisclosed All VESTCOR contractsVendor profile

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Questions about this contract

Who was awarded the financial services contract by Downtown Investment Authority (DIA)?

VESTCOR was awarded this financial services contract by Downtown Investment Authority (DIA), as recorded on February 18, 2026. The contract value is Approximately $22 million balloon payment due under existing loans.

How much is the VESTCOR contract with Downtown Investment Authority (DIA) worth?

The VESTCOR contract with Downtown Investment Authority (DIA) is valued at Approximately $22 million balloon payment due under existing loans, covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a minutes record.

Where was this contract approved?

This contract appears in Downtown Investment Authority Meeting Minutes 2026-02-18 (Minutes), dated February 18, 2026 from Downtown Investment Authority (DIA). Civic IQ extracts contract records directly from agency meeting documents and solicitations.

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What other contracts does VESTCOR hold?

VESTCOR 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 Downtown Investment Authority (DIA) currently buying?

Explore Downtown Investment Authority (DIA)'s vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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