CONTRACTPENDING

Niron Magnetics Receives $6.68M TIF Approval

Disclosed value: $6,688,000; From minutes
Document date: Apr 28, 2025
Term: 9 years

What it covers

The council approved the resolution establishing TIF District 5-7 for Niron Magnetics, granting the company $6,688,000 in tax increment revenue over nine years, with 90% allocated to Niron Magnetics and 10% retained by the city.

Who holds it

Niron Magnetics holds this tax increment financing (tif) contract with City of Sartell. Its other public contracts on record include work for St. Cloud Area Planning Organization.

What happens next

Term as filed: 9 years.

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Contract details

Contract type: Tax Increment Financing (Tif)
Amount: $6,688,000
Document date: April 28, 2025
Term: 9 years
Vendor: Niron Magnetics
Agency: City of Sartell
Source document: city-of-sartell-city-council-meeting-minutes-april-28-2025_dc9.pdf (Minutes)

Niron Magnetics's other public contracts

City of Sartell, MinnesotaCity to Consider Agreements with Niron Magnetics · Apr 13, 2026Undisclosed City of Sartell, MinnesotaSartell EDA to consider Niron Magnetics agreements · Apr 13, 2026Undisclosed City of Sartell, MinnesotaSartell to Consider Niron Magnetics Agreements · Apr 13, 2026Undisclosed St. Cloud Area Planning Organization, MinnesotaStearns County Roundabout Project Advanced for Niron Magnetics · Feb 12, 2026$2M St. Cloud Area Planning Organization, MinnesotaStearns CSAH 133 Roundabout AC Payback Approved for 2029 · Feb 12, 2026$1.2M All Niron Magnetics contractsVendor profile

More City of Sartell contracts

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Questions about this contract

Who was awarded the tax increment financing (tif) contract by City of Sartell?

Niron Magnetics was awarded this tax increment financing (tif) contract by City of Sartell, as recorded on April 28, 2025. The contract value is $6,688,000.

How much is the Niron Magnetics contract with City of Sartell worth?

The Niron Magnetics contract with City of Sartell is valued at $6,688,000, covering tax increment financing (tif) work.

What type of contract is this?

This is a Tax Increment Financing (Tif) contract, documented as a minutes record.

Where was this contract approved?

This contract appears in city-of-sartell-city-council-meeting-minutes-april-28-2025_dc9.pdf (Minutes), dated April 28, 2025 from City of Sartell. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

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What other contracts does Niron Magnetics hold?

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

What is City of Sartell currently buying?

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

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