FACILITIESPENDING

LOI with PSBX Real Estate for industrial parcel

The Big Lake Joint Powers Board is considering approval of a Letter of Intent with PSBX Real Estate LLC to acquire a 2.25‑acre industrial park parcel for a cannabis cultivation and processing facility. The proposed deal reduces the $78,400 purchase price to $0.00 as financial assistance via a forgivable loan contingent on job creation and wage commitments and a subsequent Contract for Private Development.

Status
PENDING
Document date
August 3, 2026
Contract type
FACILITIES
Vendor
Psbx Real Estate Llc
Agency
City of Big Lake · MN

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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
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
$78,400.00 reduced to $0.00 (Financial Assistance)
Contract type
FACILITIES
Contract term
LOI effective up to Termination Date of 120 days from execution, extendable 30 days; closing to occur within 7 days after CPD approval
Renewal
LOI terminates 120 days from execution or upon written notice ending negotiations; the City may extend the term by 30 days. A separate Contract for Private Development will govern long‑term obligations and financial assistance forgiveness criteria.
Document type
AgendaPacket
Source document
Big Lake Joint Powers Board Agenda Packet 2026-08-03

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the facilities contract by City of Big Lake?

Psbx Real Estate Llc was awarded this facilities contract by City of Big Lake, as recorded on August 3, 2026. The contract value is $78,400.00 reduced to $0.00 (Financial Assistance).

How much is the Psbx Real Estate Llc contract with City of Big Lake worth?

The Psbx Real Estate Llc contract with City of Big Lake is valued at $78,400.00 reduced to $0.00 (Financial Assistance), covering facilities work.

What type of contract is this?

This is a Facilities contract, documented as a agendapacket record.

Where was this contract approved?

This contract appears in Big Lake Joint Powers Board Agenda Packet 2026-08-03 (AgendaPacket), dated August 3, 2026 from City of Big Lake. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Psbx Real Estate Llc hold?

Psbx Real Estate 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.

View Psbx Real Estate Llc's profile

What is City of Big Lake currently buying?

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

View City of Big Lake's profile

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