City Directs Mortgage Refinancing Talks With Science Center
City of Fort Walton BeachCity · Fort Walton Beach, FL- Disclosed value
- Existing mortgage: $442,000 financed at 5% interest over 20 years; proposed balloon payment reduction from approximately $249,000 to roughly $30,000
- From minutes
- Document date
- Jun 23, 2026
The 30-second brief
Fort Walton Beach City Council directed staff to negotiate favorable refinancing terms with the Emerald Coast Science Center for its city-financed property mortgage. The requested modification could reduce the approximately $249,000 October 2026 balloon payment to roughly $30,000.
Emerald Coast Science Center holds this financial services contract with City of Fort Walton Beach. Its other public contracts on record include work for Okaloosa County School District.
Term as filed: 20-year mortgage originated in 2014; balloon payment due October 2026.
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Contract details
- Contract type
- Financial Services
- Amount
- Existing mortgage: $442,000 financed at 5% interest over 20 years; proposed balloon payment reduction from approximately $249,000 to roughly $30,000
- Document date
- June 23, 2026
- Term
- 20-year mortgage originated in 2014; balloon payment due October 2026
- Source document
- City of Fort Walton Beach Minutes Regular Meeting of the City Council 2026-06-23 (Minutes)
Emerald Coast Science Center's other public contracts
More City of Fort Walton Beach contracts
Questions about this contract
Who was awarded the financial services contract by City of Fort Walton Beach?
Emerald Coast Science Center was awarded this financial services contract by City of Fort Walton Beach, as recorded on June 23, 2026. The contract value is Existing mortgage: $442,000 financed at 5% interest over 20 years; proposed balloon payment reduction from approximately $249,000 to roughly $30,000.
How much is the Emerald Coast Science Center contract with City of Fort Walton Beach worth?
The Emerald Coast Science Center contract with City of Fort Walton Beach is valued at Existing mortgage: $442,000 financed at 5% interest over 20 years; proposed balloon payment reduction from approximately $249,000 to roughly $30,000, covering financial services work.
What type of contract is this?
This is a Financial Services contract, documented as a minutes record, structured as a not-to-exceed (ceiling) agreement.
Where was this contract approved?
This contract appears in City of Fort Walton Beach Minutes Regular Meeting of the City Council 2026-06-23 (Minutes), dated June 23, 2026 from City of Fort Walton Beach. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does Emerald Coast Science Center hold?
Emerald Coast Science Center 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 City of Fort Walton Beach currently buying?
Explore City of Fort Walton Beach's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.