FINANCIAL_SERVICESAPPROVED

City of Fergus Falls City Council Meeting Agenda Packet May 18 2026

City finalizes business subsidy agreement with Northwoods Industrial

Up to $295,000 in TIF reimbursement for eligible costsTown of Fergus FallsNORTHWOODS INDUSTRIAL SERVICES LLCMay 18, 2026

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Description

Fergus Falls approved a Business Subsidy/Tax Increment Financing Agreement with Northwoods Industrial Services LLC to reimburse up to $295,000 of eligible project costs for a new 22,000-square-foot facility, contingent on construction, investment, and job and wage commitments. TIF reimbursements will be paid on a pay-as-you-go basis over the life of District 4-18.

Contract Details

Contract Amount

Up to $295,000 in TIF reimbursement for eligible costs

Vendor

NORTHWOODS INDUSTRIAL SERVICES LLC

Agency

Town of Fergus Falls, MN

Contract Type

FINANCIAL_SERVICES

Document Date

May 18, 2026

Contract Term

Construction substantially complete by December 31, 2027; TIF reimbursements semi-annually over life of district (expected 2028–2036)

Renewal Date

2036-12-31

Renewal Info

Agreement governed by Minnesota Business Subsidy Law with performance period of at least two years after occupancy and operational commitment of at least five years; TIF assistance ceases upon reaching the $295,000 cap, default, or district decertification.

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