City of Minnetonka Awards Financial Services Contract to Minnetonka Marsh Llc (August 2026)

The Minnetonka Economic Development Authority approved a collateral assignment for the Marsh II (Vale Minnetonka) redevelopment, including issuance of a $4.6 million Tax Increment Revenue Note to Minnetonka Marsh, LLC. The action consents to the developer’s assignment of its rights under the redevelopment contract and TIF Note as collateral for project financing.

Scope & details

The full contract record, as filed.

Contract amount

Tax Increment Revenue Note in the amount of $4,600,000.00; permanent real estate loan of $48,500,000.00 (loan amount noted, but not EDA obligation)

Contract type

FINANCIAL_SERVICES

Renewal

Collateral assignment relates to an existing 2023 Contract for Private Redevelopment and associated TIF Note; no explicit renewal or extension terms are described in the packet.

Document type

AgendaPacket

Source document

City of Minnetonka Economic Development Authority Agenda Packet 2026-08-10

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City of Minnetonka StaffReport Marsh II Collateral Assignment 2026-08-10

APPROVED

City of Minnetonka, Minnesota$4.6 million (tax increment financing); $48.5 million (permanent real estate loan)Aug 8, 2026

Frequently asked questions

Common questions about this contract, answered from the record.

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

Minnetonka Marsh Llc was awarded this financial services contract by City of Minnetonka, as recorded on August 8, 2026. The contract value is Tax Increment Revenue Note in the amount of $4,600,000.00; permanent real estate loan of $48,500,000.00 (loan amount noted, but not EDA obligation).

How much is the Minnetonka Marsh Llc contract with City of Minnetonka worth?

The Minnetonka Marsh Llc contract with City of Minnetonka is valued at Tax Increment Revenue Note in the amount of $4,600,000.00; permanent real estate loan of $48,500,000.00 (loan amount noted, but not EDA 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 Minnetonka Economic Development Authority Agenda Packet 2026-08-10 (AgendaPacket), dated August 8, 2026 from City of Minnetonka. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Minnetonka Marsh Llc hold?

Minnetonka Marsh Llc may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

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