Trailside Apartments loan terms shortened for Olmsted HRA
Minnesota Housing Finance Agency | State of MinnesotaState · St. Paul, MN- Disclosed value
- LMIR mortgage up to $1,595,000; Bridge Loan up to $4,665,000; HIA loan $6,175,000; Origination fees $31,900 (LMIR) and $23,325 (Bridge); Bond issuance fee $150,938
- From agendapacket
- Document date
- Apr 24, 2025
- Renews
- Free account
The 30-second brief
Minnesota Housing approved modified financing terms for the Trailside Apartments development sponsored by Olmsted County Housing and Redevelopment Authority, maintaining LMIR and bridge loan amounts but shortening the construction loan periods and bridge loan maturity. The Second Amended and Restated Term Letter specifies up to $1.595 million in LMIR funds, $4.665 million in bridge financing, and a $6.175 million housing infrastructure loan to support 36 units of affordable senior housing in Rochester.
Olmsted County Housing & Redevelopment Authority holds this financial services contract with Minnesota Housing Finance Agency | State of Minnesota. Its other public contracts on record include work for Olmsted County and Minnesota Housing Finance Agency.
The renewal date is on record. A free account shows it, with the renewals for every Minnesota Housing Finance Agency | State of Minnesota contract.
Know when this contract comes back up.
See the renewal dateFree account · 30-second setup · No credit card
Contract details
- Contract type
- Financial Services
- Amount
- LMIR mortgage up to $1,595,000; Bridge Loan up to $4,665,000; HIA loan $6,175,000; Origination fees $31,900 (LMIR) and $23,325 (Bridge); Bond issuance fee $150,938
- Document date
- April 24, 2025
- Term
- LMIR: approx. 15 months construction plus 40 years; Bridge Loan: interest-only to July 1, 2026 balloon; HIA: approx. 15 months construction plus 40 years; affordability covenants 15–50 years as described
- Renews
- Free account
- Vendor
- Olmsted County Housing & Redevelopment Authority
- Source document
- Minnesota Housing AgendaPacket Board Meeting 2025-04-24 (AgendaPacket)
Olmsted County Housing & Redevelopment Authority's other public contracts
More Minnesota Housing Finance Agency | State of Minnesota contracts
Questions about this contract
Who was awarded the financial services contract by Minnesota Housing Finance Agency | State of Minnesota?
Olmsted County Housing & Redevelopment Authority was awarded this financial services contract by Minnesota Housing Finance Agency | State of Minnesota, as recorded on April 24, 2025. The contract value is LMIR mortgage up to $1,595,000; Bridge Loan up to $4,665,000; HIA loan $6,175,000; Origination fees $31,900 (LMIR) and $23,325 (Bridge); Bond issuance fee $150,938.
How much is the Olmsted County Housing & Redevelopment Authority contract with Minnesota Housing Finance Agency | State of Minnesota worth?
The Olmsted County Housing & Redevelopment Authority contract with Minnesota Housing Finance Agency | State of Minnesota is valued at LMIR mortgage up to $1,595,000; Bridge Loan up to $4,665,000; HIA loan $6,175,000; Origination fees $31,900 (LMIR) and $23,325 (Bridge); Bond issuance fee $150,938, covering financial services work.
What type of contract is this?
This is a Financial Services contract, documented as a agendapacket record.
Where was this contract approved?
This contract appears in Minnesota Housing AgendaPacket Board Meeting 2025-04-24 (AgendaPacket), dated April 24, 2025 from Minnesota Housing Finance Agency | State of Minnesota. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
Show 1 more question
What is Minnesota Housing Finance Agency | State of Minnesota currently buying?
Explore Minnesota Housing Finance Agency | State of Minnesota's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.