Big Lake Plans TIF Assistance for PCA Facility
City of Big LakeCity · Big Lake, MN- Disclosed value
- Not to exceed $6,661,000 in principal; up to $6,849,000 total project reimbursement costs; approximately $2,572,000 interest (total estimated $9,421,000 tax increment revenues)
- From agendapacket
- Document date
- Aug 19, 2026
- Renews
- Free account
The 30-second brief
The City of Big Lake is proposing a pay-as-you-go Tax Increment Revenue Note with Packaging Corporation of America to reimburse up to approximately $6.66 million in eligible project costs, plus interest, for a new 550,000-square-foot corrugated products manufacturing facility. The agreement would use tax increment generated in TIF District No. 1-8 over an estimated nine-year period, with payments scheduled from August 1, 2029 through February 1, 2038 and no general obligation backing from the City.
Packaging Corporation of America (Pca) holds this financial services contract with City of Big Lake. Its other public contracts on record include work for Marshalltown Community College.
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Contract details
- Contract type
- Financial Services
- Amount
- Not to exceed $6,661,000 in principal; up to $6,849,000 total project reimbursement costs; approximately $2,572,000 interest (total estimated $9,421,000 tax increment revenues)
- Document date
- August 19, 2026
- Term
- Estimated nine-year TIF collection period with payments from August 1, 2029 through February 1, 2038
- Renews
- On record
- Agency
- City of Big Lake
- Source document
- Big Lake City Council AgendaPacket Workshop 2026-08-19 (AgendaPacket)
Packaging Corporation of America (Pca)'s other public contracts
More City of Big Lake contracts
Questions about this contract
Who was awarded the financial services contract by City of Big Lake?
Packaging Corporation of America (Pca) was awarded this financial services contract by City of Big Lake, as recorded on August 19, 2026. The contract value is Not to exceed $6,661,000 in principal; up to $6,849,000 total project reimbursement costs; approximately $2,572,000 interest (total estimated $9,421,000 tax increment revenues).
How much is the Packaging Corporation of America (Pca) contract with City of Big Lake worth?
The Packaging Corporation of America (Pca) contract with City of Big Lake is valued at Not to exceed $6,661,000 in principal; up to $6,849,000 total project reimbursement costs; approximately $2,572,000 interest (total estimated $9,421,000 tax increment revenues), covering financial services work.
What type of contract is this?
This is a Financial Services contract, documented as a agendapacket record, structured as a not-to-exceed (ceiling) agreement.
Where was this contract approved?
This contract appears in Big Lake City Council AgendaPacket Workshop 2026-08-19 (AgendaPacket), dated August 19, 2026 from City of Big Lake. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does Packaging Corporation of America (Pca) hold?
Packaging Corporation of America (Pca) 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 Big Lake currently buying?
Explore City of Big Lake's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.