County Weighs Mille Lacs Electric LED Project Financing
Aitkin CountyCounty · MN- Disclosed value
- $36,963.13 (project cost), $7,392.00 foundation contribution, financed balance $29,571.13, loan payment $531.25/month, total interest $2,311.60, estimated $5,000 rebate
- From agenda
- Document date
- May 13, 2025
The 30-second brief
Aitkin County is considering financing the Long Lake Conservation Center LED retrofit through Mille Lacs Electric, which would provide a 5-year loan at 3% interest with no administrative fee and an estimated monthly payment of $531.25. The project cost after a foundation contribution is $29,571.13, and Mille Lacs Electric would also issue an estimated $5,000 rebate based on converted light fixtures.
Mille Lacs Electric holds this financial services contract with Aitkin County. Its other public contracts on record include work for City of Onamia and Town of South Harbor.
Term as filed: 5-year term at 3% interest, 0% administrative service fee.
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Contract details
- Contract type
- Financial Services
- Amount
- $36,963.13 (project cost), $7,392.00 foundation contribution, financed balance $29,571.13, loan payment $531.25/month, total interest $2,311.60, estimated $5,000 rebate
- Document date
- May 13, 2025
- Term
- 5-year term at 3% interest, 0% administrative service fee
- Vendor
- Mille Lacs Electric
- Agency
- Aitkin County
- Source document
- Aitkin County Board of Commissioners Agenda Request May 2025 (Agenda)
Mille Lacs Electric's other public contracts
More Aitkin County contracts
Questions about this contract
Who was awarded the financial services contract by Aitkin County?
Mille Lacs Electric was awarded this financial services contract by Aitkin County, as recorded on May 13, 2025. The contract value is $36,963.13 (project cost), $7,392.00 foundation contribution, financed balance $29,571.13, loan payment $531.25/month, total interest $2,311.60, estimated $5,000 rebate.
How much is the Mille Lacs Electric contract with Aitkin County worth?
The Mille Lacs Electric contract with Aitkin County is valued at $36,963.13 (project cost), $7,392.00 foundation contribution, financed balance $29,571.13, loan payment $531.25/month, total interest $2,311.60, estimated $5,000 rebate, covering financial services work.
What type of contract is this?
This is a Financial Services contract, documented as a agenda record, structured as a not-to-exceed (ceiling) agreement.
Where was this contract approved?
This contract appears in Aitkin County Board of Commissioners Agenda Request May 2025 (Agenda), dated May 13, 2025 from Aitkin County. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does Mille Lacs Electric hold?
Mille Lacs Electric 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 Aitkin County currently buying?
Explore Aitkin County's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.