City of Faribault Awards $50,000 Financial Services Contract to Economic Development Authority (December 2025)

The Council approved Resolution 2025-351 creating a 2026 managerial services agreement where the Economic Development Authority will pay $50,000 from its tax levy to the City’s Community and Economic Development Fund for operational management and oversight. The agreement can be extended for one additional year by mutual consent.

Document date · December 9, 2025

Track City of Faribault contracts

Get alerts when new contracts are awarded or existing ones approach renewal at City of Faribault.

Get started free

Create a free account · no credit card

Work in government? Get Civic IQ free

Scope & details

The full contract record, as filed.

Contract amount

$50,000

Contract type

FINANCIAL_SERVICES

Contract term

Calendar year 2026, with possible one-year extension

Renewal date

2026-12-31

Renewal

Agreement runs through calendar year 2026 and may be extended one additional year if neither party proposes changes or termination.

Document type

Agenda

Source document

City of Faribault City Council Agenda December 9 2025

Related contracts

Other contracts from Economic Development Authority.

View all →

Galax City Council Minutes Regular Session August 10, 2026

APPROVED

City of Galax, VirginiaAug 10, 2026

Albemarle County Board of Supervisors Minutes 2026-04-22

APPROVED

Albemarle County, Virginia$1,182,000Apr 22, 2026

Patrick County Board of Supervisors Minutes 2026-03-09

APPROVED

Patrick County, VirginiaMar 9, 2026

Portsmouth City Council Agenda Packet January 2026

APPROVED

City of Portsmouth, VirginiaJan 27, 2026

Greer County Board of Commissioners Minutes December 2025

APPROVED

Greer County, Oklahoma9355.00Dec 22, 2025

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by City of Faribault?

Economic Development Authority was awarded this financial services contract by City of Faribault, as recorded on December 9, 2025. The contract value is $50,000.

How much is the Economic Development Authority contract with City of Faribault worth?

The Economic Development Authority contract with City of Faribault is valued at $50,000, covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a agenda record.

Where was this contract approved?

This contract appears in City of Faribault City Council Agenda December 9 2025 (Agenda), dated December 9, 2025 from City of Faribault. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Economic Development Authority hold?

Economic Development Authority 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 Economic Development Authority's profile

What is City of Faribault currently buying?

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

View City of Faribault's profile