OTHERAPPROVED

Pillars Assessment Agreement Sets $20.19 Million Value

The City and HEDA approved an Assessment Agreement supporting the Pillars of Hermantown Pay-As-You-Go note. The agreement establishes a $20.19 million minimum combined market value beginning January 2, 2028 and remains in effect until no later than February 2, 2031.

Document date · October 15, 2026

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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
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
Minimum combined market value $20,185,700
Contract type
OTHER
Contract term
Beginning January 2, 2028; ends upon the earliest of termination of the 2022 Development Contract, full payment of the HEDA PAYG Note, or February 2, 2031
Renewal date
2031-02-02
Renewal
Agreement ends on the earliest of 2022 Development Contract termination, full PAYG Note repayment, or February 2, 2031; it is intended to be assigned to VLSHRE Pillars Hermantown, LLC.
Document type
AgendaPacket
Source document
Hermantown Economic Development Authority AgendaPacket October 15, 2026

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the government contract by City of Hermantown?

Pillars of Hermantown Llc was awarded this government contract by City of Hermantown, as recorded on October 15, 2026. The contract value is Minimum combined market value $20,185,700.

How much is the Pillars of Hermantown Llc contract with City of Hermantown worth?

The Pillars of Hermantown Llc contract with City of Hermantown is valued at Minimum combined market value $20,185,700.

What type of contract is this?

This is a government contract, documented as a agendapacket record.

Where was this contract approved?

This contract appears in Hermantown Economic Development Authority AgendaPacket October 15, 2026 (AgendaPacket), dated October 15, 2026 from City of Hermantown. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Pillars of Hermantown Llc hold?

Pillars of Hermantown 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.

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What is City of Hermantown currently buying?

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