Big Lake Plans TIF Assistance for PCA Facility

Scope & details

The full contract record, as filed.

Contract 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)

Contract type

FINANCIAL_SERVICES

Contract term

Estimated nine-year TIF collection period with payments from August 1, 2029 through February 1, 2038

Renewal date

2038-02-01

Renewal

The Tax Increment Revenue Note will terminate upon the last scheduled payment date (February 1, 2038), earlier decertification of the TIF District, termination of the Development Agreement by either party, or full payment of principal and interest, whichever occurs first. The TIF District itself is limited by statute to eight years of tax increment collection after the first year of increment, with decertification projected no later than December 31, 2037.

Document type

AgendaPacket

Source document

Big Lake City Council AgendaPacket Workshop 2026-08-19

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 (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.

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.

View Packaging Corporation of America (pca)'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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