City of Superior Minutes Superior Economic Development Committee 2026-01-18
Committee Recommends REDLG Loan to Dustin Gay
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Description
The committee recommended a seven-year REDLG loan of about $100,000 at 1% interest plus a 1% annual administrative fee to Dustin Gay to help finance the purchase of Superior Midtown Manor. The loan would sit behind a $350,000 primary note from Byron State Bank.
Contract Details
Contract Amount
Approximately $100,000 (requested)
Vendor
GAY, DUSTIN
Agency
City of Superior, NE
Contract Type
FINANCIAL_SERVICES
Document Date
January 18, 2026
Contract Term
Seven (7) year loan
Renewal Info
Initial recommendation for a seven-year term REDLG loan at 1% interest with a 1% annual administrative fee; renewal or extension options are not discussed.
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