City of Hermantown Awards Financial Services Contract to Pillars of Hermantown Llc (October 2025)

HEDA approved a consent agreement with Pillars of Hermantown LLC related to the existing development contract for the Pillars of Hermantown senior living project. The consent recognizes assignment of the development contract and supports refinancing arrangements tied to the project’s amended and restated construction loan.

Document date · October 23, 2025

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Scope & details

The full contract record, as filed.

Contract type

FINANCIAL_SERVICES

Contract term

Effective as of a date in 2025; term tied to life of amended and restated construction loan and development contract obligations

Renewal

Consent relates to an amended and restated construction loan and development contract; duration follows underlying loan documents and development contract terms. No automatic renewal language is specified in the consent itself.

Document type

Resolution

Source document

heda_resolution_2025_12h_approve_loan_agreement.pdf

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Frequently asked questions

Common questions about this contract, answered from the record.

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

Pillars of Hermantown Llc was awarded this financial services contract by City of Hermantown, as recorded on October 23, 2025.

What type of contract is this?

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

Where was this contract approved?

This contract appears in heda_resolution_2025_12h_approve_loan_agreement.pdf (Resolution), dated October 23, 2025 from City of Hermantown. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Pillars of Hermantown Llc hold?

Pillars of Hermantown 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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