City of Blaine Awards Financial Services Contract to Hiawatha Lake Ventures I Llc (August 2026)

The Blaine Economic Development Authority approved a forgivable loan of up to $355,000 to Hiawatha Lake Ventures I, LLC, paid in four annual installments, to support repayment of an existing EDA balloon note on senior housing. Annual payments depend on maintaining rent affordability and limiting rent increases at Blaine Courts and Cloverleaf Courts.

Scope & details

The full contract record, as filed.

Contract amount

Not more than $355,000 (forgivable loan)

Contract type

FINANCIAL_SERVICES

Contract term

Annual payments on or before June 1 of 2027, 2028, 2029, and 2030; forgiveness upon meeting conditions

Renewal date

2030-06-01

Renewal

Forgivable loan is structured as four annual payments through 2030 and is forgiven upon documented compliance with rent affordability and rent increase limits; no renewal beyond the scheduled term is described.

Document type

AgendaPacket

Source document

City of Blaine Economic Development Authority Agenda Packet 2026-08-17

Frequently asked questions

Common questions about this contract, answered from the record.

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

Hiawatha Lake Ventures I Llc was awarded this financial services contract by City of Blaine, as recorded on August 17, 2026. The contract value is Not more than $355,000 (forgivable loan).

How much is the Hiawatha Lake Ventures I Llc contract with City of Blaine worth?

The Hiawatha Lake Ventures I Llc contract with City of Blaine is valued at Not more than $355,000 (forgivable loan), covering financial services work.

What type of contract is this?

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

Where was this contract approved?

This contract appears in City of Blaine Economic Development Authority Agenda Packet 2026-08-17 (AgendaPacket), dated August 17, 2026 from City of Blaine. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Hiawatha Lake Ventures I Llc hold?

Hiawatha Lake Ventures I 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.

View Hiawatha Lake Ventures I Llc's profile

What is City of Blaine currently buying?

Explore City of Blaine's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

View City of Blaine's profile