Chaska Negotiates TIF LOI With Scannell Properties

Chaska staff negotiated a Letter of Intent with Scannell Properties to outline a Tax Increment Financing framework for Big Woods Business Park North Phase I, focused on reimbursing eligible public infrastructure costs through a Pay-As-You-Go TIF note. The EDA will consider authorizing the Executive Director to execute the non-binding LOI and begin preparing the necessary TIF plan and agreement documents.

Scope & details

The full contract record, as filed.

Contract type

FINANCIAL_SERVICES

Contract term

Eight-year Economic Development TIF District contemplated

Renewal

LOI states it is not a binding commitment; a future TIF Agreement and related documents will be separately negotiated and approved by the City Council and EDA, including a one-time lookback approximately one year after stabilization to potentially adjust assistance terms.

Document type

AgendaPacket

Source document

Chaska Economic Development Authority AgendaPacket Big Woods Business Park Project 2026-07-20

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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 Chaska?

Scannell Properties was awarded this financial services contract by City of Chaska, as recorded on July 20, 2026.

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 Chaska Economic Development Authority AgendaPacket Big Woods Business Park Project 2026-07-20 (AgendaPacket), dated July 20, 2026 from City of Chaska. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Scannell Properties hold?

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