CONTRACTEXTENDED

DIA extends Vestcor loan for Lynch and Carling

Disclosed value: Approximately $22 million balloon payment due; six-month extension of loan maturity; From agendapacket
Document date: Mar 18, 2026

What it covers

The Downtown Investment Authority granted Vestcor a six-month extension on a roughly $22 million city loan associated with the Lynch and Carling buildings, moving the expected repayment into late summer 2026. An attempt to increase the interest rate was rejected, and the extension was approved unanimously.

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 extension to September 1, 2026 referenced; overall loan originated 2001 and 2003 with balloon in March 2026.

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Contract details

Contract type: Financial Services
Amount: Approximately $22 million balloon payment due; six-month extension of loan maturity
Document date: March 18, 2026
Term: Six-month extension to September 1, 2026 referenced; overall loan originated 2001 and 2003 with balloon in March 2026
Vendor: VESTCOR
Agency: Downtown Investment Authority (DIA)
Source document: Downtown Investment Authority AgendaPacket Board Meeting 2026-03-18 (AgendaPacket)

VESTCOR's other public contracts

Downtown Investment Authority (DIA), FloridaDIA Grants Six-Month Loan Extension To Vestcor · Feb 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 March 18, 2026. The contract value is Approximately $22 million balloon payment due; six-month extension of loan maturity.

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; six-month extension of loan maturity, covering financial services work.

What type of contract is this?

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

Where was this contract approved?

This contract appears in Downtown Investment Authority AgendaPacket Board Meeting 2026-03-18 (AgendaPacket), dated March 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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