FINANCIAL_SERVICESAPPROVED

City of West St. Paul Awards Financial Services Contract to First International Bank & Trust (July 2026)

The West St. Paul Economic Development Authority authorized execution of lender assignment documents with First International Bank & Trust, subordinating its interests under the Greco project’s Purchase and Development Agreement to the bank’s mortgage securing a construction loan of up to $63 million. Under the arrangement, TIF Note payments will flow directly to the lender until the developer’s loan is repaid.

Status
APPROVED
Document date
July 13, 2026
Contract type
FINANCIAL_SERVICES
Vendor
First International Bank & Trust
Agency
City of West St. Paul · MN

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TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo

Scope & details

The full contract record, as filed.

Contract amount
Up to $63,000,000.00 construction loan and letter of credit facility (loan amount referenced; no direct EDA payment obligation)
Contract type
FINANCIAL_SERVICES
Contract term
Construction loan dated August 2026; term not specified in document
Renewal
Subordination and consent apply for the duration of the lender’s construction loan and related mortgage; EDA TIF Note payments are directed to the lender until the loan is indefeasibly paid in full and the lending commitment is terminated.
Document type
AgendaPacket
Source document
City of West St. Paul Economic Development Authority Agenda Packet 2026-07-13

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by City of West St. Paul?

First International Bank & Trust was awarded this financial services contract by City of West St. Paul, as recorded on July 13, 2026. The contract value is Up to $63,000,000.00 construction loan and letter of credit facility (loan amount referenced; no direct EDA payment obligation).

How much is the First International Bank & Trust contract with City of West St. Paul worth?

The First International Bank & Trust contract with City of West St. Paul is valued at Up to $63,000,000.00 construction loan and letter of credit facility (loan amount referenced; no direct EDA payment obligation), 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 City of West St. Paul Economic Development Authority Agenda Packet 2026-07-13 (AgendaPacket), dated July 13, 2026 from City of West St. Paul. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does First International Bank & Trust hold?

First International Bank & Trust may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

View First International Bank & Trust's profile

What is City of West St. Paul currently buying?

Explore City of West St. Paul's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

View City of West St. Paul's profile

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