City of Bennington Community Development Agency AgendaPacket Prairie Ridge Townhomes Redevelopment Project 2026-06-08

Contract Amount

Up to $2,919,000.00 (Tax Increment Revenue Bond principal)

Vendor

BPW SMART DEVELOPMENT LLC

Agency

City of Bennington, NE

Contract Type

FINANCIAL_SERVICES

Document Date

June 8, 2026

Contract Term

From Effective Date January 1, 2028, not to exceed fifteen years; Bond maturity no later than December 31, 2043

Renewal Date

2043-12-31

Renewal Info

Bond term and TIF allocation run for up to fifteen years from the Effective Date of January 1, 2028, with last year of tax division in 2043. Any principal not retired by the end of the TIF period is forgiven; the Contract’s covenants run with the land until the Bond is paid in full or forgiven. No explicit renewal or extension provisions beyond the statutory TIF period.