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EDA Amends $7,146 Lester Properties Loan

City of Faribault logoCity of Faribault
Disclosed value
Amended principal balance of $7,146.23 at 3% interest; monthly payment of $171.57
From agendapacket
Document date
Oct 22, 2026
Term
November 1, 2026 – June 1, 2030
Renews
Free account

The 30-second brief

What it covers

The Faribault Economic Development Authority amended its loan with Lester Properties LLC, resetting the balance at $7,146.23 with 3% interest. Payments of $171.57 per month resume November 1, 2026, with payoff scheduled for June 2030.

Who holds it

Lester Properties LLC holds this financial services contract with City of Faribault. Its other public contracts on record include work for Housing & Redevelopment Authority Of Faribault.

What happens next

The renewal date is on record. A free account shows it, with the renewals for every City of Faribault contract.

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Contract details

Contract type
Financial Services
Amount
Amended principal balance of $7,146.23 at 3% interest; monthly payment of $171.57
Document date
October 22, 2026
Term
November 1, 2026 – June 1, 2030
Renews
Free account
Vendor
Lester Properties LLC
Agency
City of Faribault
Source document
Faribault Economic Development Authority AgendaPacket Economic Development Authority Meeting 2026-10-22 (AgendaPacket)

Lester Properties LLC's other public contracts

City of Faribault, MinnesotaEDA to Discuss Lester Properties Loan Amendment · Oct 22, 2026UndisclosedCity of Faribault, MinnesotaDowntown Exterior Rehab Payment To Lester Properties · Jun 8, 2021$15KHousing & Redevelopment Authority Of Faribault, MinnesotaLester Properties Receives Downtown Rehab Funding · Jun 8, 2021$15KAll Lester Properties LLC contractsVendor profile

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Questions about this contract

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

Lester Properties LLC was awarded this financial services contract by City of Faribault, as recorded on October 22, 2026. The contract value is Amended principal balance of $7,146.23 at 3% interest; monthly payment of $171.57.

How much is the Lester Properties LLC contract with City of Faribault worth?

The Lester Properties LLC contract with City of Faribault is valued at Amended principal balance of $7,146.23 at 3% interest; monthly payment of $171.57, 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 Faribault Economic Development Authority AgendaPacket Economic Development Authority Meeting 2026-10-22 (AgendaPacket), dated October 22, 2026 from City of Faribault. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

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What other contracts does Lester Properties LLC hold?

Lester Properties 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.

What is City of Faribault currently buying?

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

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