City of Holdingford AgendaPacket 2026-06-08
City Approves TIF Agreement with Stainless Kings, LLC
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Description
The City of Holdingford approved a development agreement with Stainless Kings, LLC to provide up to $65,000 in TIF-funded reimbursement for facility expansion site improvements. Payments are tied to completion, paid via TIF Note through 2037 or earlier.
Contract Details
Contract Amount
Not to exceed $65,000 (TIF-funded reimbursement)
Vendor
STAINLESS KINGS LLC
Agency
City of Holdingford, MN
Contract Type
OTHER
Document Date
June 8, 2026
Contract Term
Construction to commence by June 30, 2026 and substantial completion by December 31, 2026; TIF Note payable from Aug 1, 2028 to Feb 1, 2037 or earlier
Renewal Date
2037-02-01
Renewal Info
Term ends at earlier of TIF Note maturity (Feb 1, 2037) or termination if requirements are met; Developer may transfer only with City approval. No mention of auto-renewal.
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