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Council approves $50,000 economic development loan to support local project

Cascade City Council · July 28, 2026
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Summary

Council approved a $50,000 development loan (Resolution 72-26) to Fidelity Bank on behalf of TMB Properties LLC; staff will prepare loan documents for future approval steps.

Council approved Resolution 72-26, authorizing an economic development loan in the amount of $50,000 to Fidelity Bank on behalf of TMB Properties LLC. Staff said, if the council approves the loan, they will prepare a promissory note, mortgage and other documents for formal execution at an upcoming meeting.

A council member noted similar past loans for local businesses (Corner Taproom, Heppy Joe project, Cheryl's Flower Garden) and staff said the city has used catalyst grants previously. The council voted to approve the resolution and authorized staff to draft the loan documents for subsequent consideration.

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