City of Albertville Council Meeting Agenda February 17, 2026
Proposed TIF Agreement with LEP Holdings
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Description
The City’s TIF Plan calls for a Development Agreement with LEP Holdings LLC, reimbursing eligible redevelopment costs via tax increment through 2043.
Contract Details
Contract Amount
Not to exceed $50,000 (interfund loan reimbursement via TIF)
Vendor
LEP HOLDINGS LLC
Agency
City of Albertville, MN
Contract Type
OTHER
Document Date
February 17, 2026
Contract Term
Through February 1, 2043 (TIF Note term)
Renewal Date
2043-02-01
Renewal Info
Interfund loan to be repaid from tax increment; agreement runs until note is paid or district decertifies in 2043.
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