City of Platteville Common Council Proceedings April 28, 2026
Council Approves $1.57M Loan With Fidelity Bank & Trust
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Description
The Platteville Common Council approved a $1,570,247.71 financing package with Fidelity Bank & Trust to support industrial park land acquisition and development. The loan is structured as a two-year note with seven-year amortization and a balloon payment at a 5.95% interest rate.
Contract Details
Contract Amount
$1,570,247.71
Vendor
FIDELITY BANK & TRUST
Agency
City of Platteville, WI
Contract Type
FINANCIAL_SERVICES
Document Date
April 28, 2026
Contract Term
two-year loan with 7-year amortization; balloon payment at end of two-year term
Renewal Info
Two-year loan with seven-year amortization and balloon payment; any extension or refinancing after the initial two-year term would require future council action.
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