FINANCIAL_SERVICESAPPROVED

Town of Independence Awards Financial Services Contract to Lakeland Electric (March 2026)

Council approved an income-tax grant agreement with Lakeland Electric to support its relocation to 6600 East Schaaf Road, bringing 51 employees and a $4 million payroll to the city. The deal returns 10% of the company’s municipal income tax payments, about $8,000 per year for five years, contingent on payroll performance.

Status
APPROVED
Document date
March 10, 2026
Contract type
FINANCIAL_SERVICES
Vendor
Lakeland Electric
Agency
Town of Independence · OH

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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
Approximately $8,000 per year for five years (10% of $80,000 annual income tax)
Contract type
FINANCIAL_SERVICES
Contract term
Five years
Renewal
Five‑year grant based on payroll tax; city monitors compliance similarly to 13 other active income-tax grant agreements. No automatic renewal mentioned.
Document type
Minutes
Source document
City of Independence Council Meeting Minutes March 10 2026

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Town of Independence?

Lakeland Electric was awarded this financial services contract by Town of Independence, as recorded on March 10, 2026. The contract value is Approximately $8,000 per year for five years (10% of $80,000 annual income tax).

How much is the Lakeland Electric contract with Town of Independence worth?

The Lakeland Electric contract with Town of Independence is valued at Approximately $8,000 per year for five years (10% of $80,000 annual income tax), covering financial services work.

What type of contract is this?

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

Where was this contract approved?

This contract appears in City of Independence Council Meeting Minutes March 10 2026 (Minutes), dated March 10, 2026 from Town of Independence. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Lakeland Electric hold?

Lakeland Electric 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 Lakeland Electric's profile

What is Town of Independence currently buying?

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

View Town of Independence's profile

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