FINANCIAL_SERVICESRECOMMENDED

TIF Assistance Recommended for PCA Manufacturing Project

Big Lake Economic Development Authority is considering a Resolution of Support recommending that the City Council establish TIF District No. 1‑8 and approve a pay‑as‑you‑go tax increment financing plan to reimburse Packaging Corporation of America up to $6.66 million for eligible costs tied to a $250 million manufacturing facility from 2029 through 2038.

Status
RECOMMENDED
Document date
August 10, 2026
Contract type
FINANCIAL_SERVICES
Vendor
Packaging Corporation of America
Agency
City of Big Lake · MN

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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
Up to $6.66 million in tax increment, not to exceed $6,661,000 principal plus interest
Contract type
FINANCIAL_SERVICES
Contract term
Estimated tax increment reimbursement period 2029–2038; TIF district decertified no later than December 31, 2037
Renewal date
2037-12-31
Renewal
TIF District No. 1‑8 may collect increments for up to eight years after first receipt, with decertification required no later than December 31, 2037 or earlier if sufficient increment is generated; payments on the note run from August 1, 2029 through February 1, 2038.
Document type
Agenda
Source document
Big Lake Economic Development Authority Agenda 2026-08-10

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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 Big Lake?

Packaging Corporation of America was awarded this financial services contract by City of Big Lake, as recorded on August 10, 2026. The contract value is Up to $6.66 million in tax increment, not to exceed $6,661,000 principal plus interest.

How much is the Packaging Corporation of America contract with City of Big Lake worth?

The Packaging Corporation of America contract with City of Big Lake is valued at Up to $6.66 million in tax increment, not to exceed $6,661,000 principal plus interest, covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a agenda record, structured as a not-to-exceed (ceiling) agreement.

Where was this contract approved?

This contract appears in Big Lake Economic Development Authority Agenda 2026-08-10 (Agenda), dated August 10, 2026 from City of Big Lake. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Packaging Corporation of America hold?

Packaging Corporation of America 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 Packaging Corporation of America'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.

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