Cornerstone Property Management Agreement Concluded in 2025
City of FaribaultCity · Faribault, MN- Disclosed value
- $5,500 per month management fees plus $4,000 per month facility maintenance
- From agendapacket
- Document date
- May 11, 2026
The 30-second brief
The Faribault HRA reported that its property management and maintenance agreements with Cornerstone for its 49 scattered site units, totaling roughly $9,500 per month, were terminated at the end of 2025. City staff temporarily assumed management responsibilities while a new management firm was selected.
CORNERSTONE holds this professional services contract with City of Faribault. Its other public contracts on record include work for Town of James Island and Magistrates Retirement Fund | State of Georgia.
Term as filed: Through December 31, 2025 (terminated at end of 2025).
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Contract details
- Contract type
- Professional Services
- Amount
- $5,500 per month management fees plus $4,000 per month facility maintenance
- Document date
- May 11, 2026
- Term
- Through December 31, 2025 (terminated at end of 2025)
- Vendor
- CORNERSTONE
- Agency
- City of Faribault
- Source document
- City of Faribault Housing & Redevelopment Authority Agenda Packet May 2026 (AgendaPacket)
CORNERSTONE's other public contracts
More City of Faribault contracts
Questions about this contract
Who was awarded the professional services contract by City of Faribault?
CORNERSTONE was awarded this professional services contract by City of Faribault, as recorded on May 11, 2026. The contract value is $5,500 per month management fees plus $4,000 per month facility maintenance.
How much is the CORNERSTONE contract with City of Faribault worth?
The CORNERSTONE contract with City of Faribault is valued at $5,500 per month management fees plus $4,000 per month facility maintenance, covering professional services work.
What type of contract is this?
This is a Professional Services contract, documented as a agendapacket record, structured as a not-to-exceed (ceiling) agreement.
Where was this contract approved?
This contract appears in City of Faribault Housing & Redevelopment Authority Agenda Packet May 2026 (AgendaPacket), dated May 11, 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 CORNERSTONE hold?
CORNERSTONE 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.
