City of Lafayette Redevelopment Commission Agenda April 30 2026
TIF-funded forgivable loan approved for Sustainea
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Description
The Lafayette Redevelopment Commission approved Resolution LRC-2026-08 establishing a TIF-funded forgivable loan for Sustainea Bioglycols LLC, with up to $1,000,000 for infrastructure and capital expenses and up to $95,000 for job training. The 0% interest loan will be forgiven if the company meets agreed performance conditions.
Contract Details
Contract Amount
Not to exceed $1,000,000 for infrastructure and capital costs; not to exceed $95,000 for job training
Vendor
SUSTAINEA BIOGLYCOLS LLC
Agency
Town of Lafayette, IN
Contract Type
FINANCIAL_SERVICES
Document Date
April 30, 2026
Renewal Info
Forgiveness of the loan is contingent on Sustainea Bioglycols LLC meeting conditions in the loan documents; multiple draws are allowed with an optional annual cap of 50% of the loan amount.
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