Hill Block redevelopment city loan
City of FaribaultMinnesota- Detected
- Jul 16, 2026
- 109 days ago
- Sector
- Capital Projects
- Est. value
- Free account
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THE 30-SECOND BRIEF
The EDA and HRA are considering a proposed 10-year, $300,000 loan to Hill Block LLC for the Hill Block redevelopment, with interest-only monthly payments of $687.50 and a balloon principal payment at maturity. A joint public hearing and special meeting on July 16, 2026 will gather public input and then each board will act on the loan request. Developers, lenders, and construction partners may find follow-on opportunities tied to this redevelopment once financing is approved.
Loan structure is interest-only with balloon principal; total payments over life of loan are $382,500.
From the meeting
- Meeting date
- July 16, 2026
- Agency
- City of Faribault
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