--- ## author: Sandy Petrowski date: D:20260602154856-05'00' --- ## 1) CALL TO ORDER ## 2) PLEDGE OF ALLEGIANCE 3) ROLL CALL (Members: D. Clarksean, K. Geroux, A. Heidemann, P. Knier, K. Knodle, K. Parsons, J. Rohrbeck) ## 4) ADOPT AGENDA ## 5) APPROVE BLEDA MINUTES OF MAY 11, 2026 ## 6) BLEDA BUSINESS ITEMS ## 6A. BLEDA Strategic Plan Discussion ## 6B. Letters of Support Request – Sand Development, LLC 6C. BLEDA Financial Report and List of Claims for May 2026 ## 6D. Community Development Department Update ## 7) OTHER ## 8) ADJOURN Disclaimer: This agenda has been prepared to provide information regarding the upcoming meeting of the Big Lake Economic Development Authority. This document does not claim to be complete and is subject to change. Notice of City Council Quorum: A quorum of the City Council members may be present at this meeting. No action will be taken by the Council. ## AGENDA ## BIG LAKE ECONOMIC DEVELOPMENT AUTHORITY MEETING ## COUNCIL CHAMBERS ## JUNE 08, 2026 5:30 p.m. ## AGENDA ITEM ## Big Lake Economic Development Authority ## Prepared By: ## Lisa Miller, BLEDA Secretary ## Meeting Date: 06/08/2026 Item No. 5 ## Item Description: ## May 11, 2026 BLEDA Regular Meeting Minutes ## Reviewed By: Marie Popp, BLEDA Executive Director ## Reviewed By: N/A ## ACTION REQUESTED Approve the May 11, 2026, Big Lake Economic Development Authority (BLEDA) Regular Meeting Minutes as presented. ## BACKGROUND/DISCUSSION The May 11, 2026, BLEDA Regular Meeting Minutes are attached for review. ## ATTACHMENTS ## May 11, 2026, BLEDA Regular Meeting Minutes ## Big Lake BLEDA Meeting Minutes Date: MAY 11, 2026 Page 1 of 4 ## - DRAFT MINUTES - ## NOT YET APPROVED ## BIG LAKE ECONOMIC DEVELOPMENT AUTHORITY ## MEETING MINUTES ## MONDAY, MAY 11, 2026 ## 1. CALL TO ORDER President Alan Heidemann called the meeting to order at 5:30 p.m. ## 2. PLEDGE OF ALLEGIANCE The Pledge of Allegiance was recited. ## 3. ROLL CALL Commissioners present: Donna Clarksean, Ken Geroux, Alan Heidemann, Paul Knier, Kristopher Knodle, and Kathryn Parsons. Commissioners absent: Jake Rohrbeck. Also present: BLEDA Executive Director Marie Popp, City Administrator Hanna Klimmek, BLEDA Assistant Treasurer Deb Wegeleben and BLEDA Secretary Lisa Miller. ## 4. ADOPT AGENDA Commissioner Knier motioned to adopt the proposed Agenda. Seconded by Commissioner Geroux, unanimous ayes, motion carried. ## 5. APPROVE BLEDA MINUTES OF APRIL 13, 2026 Commissioner Geroux motioned to approve the BLEDA minutes of April 13, 2026, as presented. Seconded by Commissioner Parsons, unanimous ayes, motion carried. ## 6A. CITY-OWNED LOTS ON HIGHWAY 25 AND PLEASANT AVENUE BLEDA Executive Director Marie Popp discussed two City-owned parcels along Highway 25 near Pleasant Avenue that formerly housed the senior center. Popp explained while the Comprehensive Plan designates the properties for Business use, they are currently zoned R-3 High Density Residential within the Downtown District Transition Zone. Popp noted parcels intended for economic development have historically been owned and managed by BLEDA. The land use map shows the area as being business along Highway 25, including current homes. R-3 setbacks on the front and rear of the two properties show one as 50 feet and the other as 40 feet, which would take up the entire site. She stated if BLEDA wishes to take a more active role in preparing the site for future development, the parcels would need to be rezoned and ## Big Lake BLEDA Meeting Minutes Date: MAY 11, 2026 Page 2 of 4 ## - DRAFT MINUTES - ## NOT YET APPROVED combined to align with the intended land-use vision. Popp also noted BLEDA could consider acquiring additional property nearby to create a larger and more marketable development opportunity. Popp asked BLEDA to discuss if they would like to consider the site a priority for future economic development planning and if there is any interest in pursuing next steps. BLEDA Commissioners discussed the future development potential of city-owned parcels along Highway 25 and the possibility of combining adjacent parcels to create a more marketable redevelopment site. Popp explained the current concept would involve combining two city- owned parcels and potentially acquiring an additional privately owned parcel to improve site size, access, and development feasibility. Discussion included possible future commercial uses, including a small coffee shop or similar business, and how the site aligns with the City’s long- term land use plans for business development. BLEDA discussed differing perspectives regarding whether the City and EDA should continue acquiring and assembling property for redevelopment purposes or instead return existing properties to the private sector and tax rolls. Some Commissioners expressed support for holding the properties for future redevelopment opportunities, while others favored minimizing City ownership unless additional acquisition would significantly improve redevelopment potential. Popp reviewed the existing zoning and land use designations in the area, noting that portions of the area are currently zoned R-3 but identified for future business and high-density residential uses in the comprehensive plan. Discussion was had on the potential administrative process of transferring ownership of the parcels between the City and EDA if redevelopment efforts move forward. Consensus of the BLEDA was to continue holding the existing parcels and not actively pursue acquisition of the adjacent private parcel at this time, but to remain open to future discussions if the property owner expresses interest or redevelopment opportunities arise. ## 6B. CITY ORDINANCE FEEDBACK DISCUSSION Popp discussed BLEDA has historically taken an active role in reviewing City ordinances when efficiencies can be identified or when feedback suggests certain requirements may be outdated or burdensome for area businesses. Popp reviewed recent comments received from the business community and asked for BLEDA discussion and recommended direction. BLEDA discussion was held regarding potential amendments to the City’s landscaping, building height, and downtown design standards ordinances. Concerns were raised about the cost and practicality of current landscaping requirements for commercial developments, with discussion focusing on balancing aesthetics with affordability and maintenance considerations. Popp reviewed neighboring community standards, noting Becker has limited landscaping requirements while Elk River has more extensive standards. Consensus was reached for staff to further review landscaping and hardscape requirements and return with recommendations. ## Big Lake BLEDA Meeting Minutes Date: MAY 11, 2026 Page 3 of 4 ## - DRAFT MINUTES - ## NOT YET APPROVED Popp presented information regarding current maximum building height regulations, noting most zoning districts are limited to 35 feet, with the TOD district allowing up to 60 feet. Discussion included recent requests from industrial businesses seeking additional building height to accommodate equipment and overhead cranes. BLEDA discussed concerns that the current restrictions may limit business growth, building design flexibility, and economic development opportunities. Comparisons with surrounding communities were reviewed, including industrial height allowances exceeding 100 feet in some areas. General consensus supported reviewing and potentially increasing allowable building heights, up to 199 feet, in certain zoning districts while maintaining current single-family residential standards. Staff was directed to continue researching surrounding community standards, infrastructure considerations, and district-specific recommendations. Discussion also occurred regarding the City’s downtown design standards and overlay districts. BLEDA discussed the history and intent of the standards, which were originally established in the late 1990s to improve aesthetics and create a more cohesive downtown appearance. Concerns were expressed that portions of the standards are overly prescriptive, create confusion for developers, and may hinder redevelopment opportunities. Specific examples were shared regarding past development challenges and requirements that were viewed as impractical for businesses. Popp reviewed the current downtown design district map and explained that some transition overlay areas no longer carry enforceable requirements. General consensus of the BLEDA supported eliminating or substantially revising the outdated downtown design standards and simplifying the process for future development and redevelopment projects. ## 6C. BLEDA STRATEGIC PLAN DISCUSSION Popp explained that BLEDA recently reviewed its Strategic Plan and made only minor revisions. During those discussions, a potential land sale prompted additional conversations about future action steps and tactical approaches for certain targeted parcels. Popp requested BLEDA revisit the Strategic Plan to ensure it continues to reflect the organization’s priorities, provides clear direction to staff, and aligns long-term goals with near-term action items. BLEDA discussed the potential pursuit of additional redevelopment and land acquisition opportunities within the downtown area. Popp noted there are funds available to pursue strategic property acquisitions if desired by BLEDA. Discussion included the importance of monitoring properties that may become available, including those not formally listed for sale, and maintaining communication with property owners and developers. BLEDA discussed the long-term vision for redevelopment in the downtown area, including concerns regarding the financial return on investment and the length of time it may take to recover acquisition costs ## Big Lake BLEDA Meeting Minutes Date: MAY 11, 2026 Page 4 of 4 ## - DRAFT MINUTES - ## NOT YET APPROVED through future property tax revenue. Some members expressed support for a proactive redevelopment approach, while others questioned the extent to which the City should be involved versus allowing private market redevelopment to occur independently. Popp provided an update regarding recent activity surrounding nearby storage facility properties and explained current zoning regulations would not allow additional storage buildings without further approvals, as existing facilities are grandfathered under current zoning. Discussion followed regarding whether redevelopment efforts should focus on adjacent properties and encouraging private investment rather than direct City acquisition. BLEDA also discussed the importance of preparing the area for future redevelopment opportunities in advance of the anticipated Public Safety Facility relocation in spring 2028. Popp explained that ongoing environmental work, planning efforts, zoning updates, comprehensive plan amendments, and revised development guidelines are intended to position the site for future marketing and redevelopment. Popp noted developers often seek certainty regarding zoning and development requirements prior to committing to projects. Discussion also included the future Request for Proposals (RFP) process, potential redevelopment criteria, and the importance of identifying EDA priorities for future development, including desired uses, density, and design expectations. Popp stated preliminary cleanup and planning work could likely be completed over the coming months before broader marketing efforts begin. BLEDA acknowledged redevelopment efforts require significant preparation and coordination but agreed continued planning and communication with interested developers and property owners remains important. Consensus of the BLEDA was to continue the discussion on the strategic plan at the next meeting. ## 6D. BLEDA FINANCIAL REPORT AND LIST OF CLAIMS FOR APRIL 2026 Deb Wegeleben reviewed the BLEDA financial report and list of claims for April 2026. Commissioner Knier motioned to approve the BLEDA Financial Report and List of Claims for April 2026. Seconded by Commissioner Geroux unanimous ayes, motion carried. ## 6E. COMMUNITY DEVELOPMENT DEPARTMENT UPDATE Popp reviewed closing on the Pizza Factory relocation took place on May 7, 2026. ## 7. OTHER ## 8. ADJOURN Commissioner Clarksean motioned to adjourn the meeting at 6:55 p.m. Seconded by Knier, unanimous ayes, meeting adjourned. ## Prepared By: ## Marie Popp, BLEDA Executive Director ## Meeting Date: 6/8/2026 Item No. ## 6A ## Item Description: ## BLEDA Strategic Plan Discussion ## Reviewed By: Hanna Klimmek, City Administrator ## Reviewed By: Deb Wegeleben, Finance Director ## ACTION REQUESTED Discuss BLEDA’s Strategic Plan. ## BACKGROUND/DISCUSSION BLEDA has been discussing the strategic plan over the past couple of months. These conversations raised broader questions about the specific action steps and tactical approaches BLEDA would like to take on priority parcels. During the May meeting, BLEDA members decided to continue the discussion to the June meeting in pursuit of a consensus on BLEDA’s interest in continuing to maintain redevelopment goals. To ensure the Strategic Plan continues to reflect BLEDA’s priorities and provides clear direction for staff, we are bringing the document back for additional review. This will give the group an opportunity to revisit its goals, refine tactical strategies, and confirm alignment between long‑term objectives and near‑term action items. ## ATTACHMENTS ## BLEDA’s Strategic Plan ## AGENDA ITEM ## Big Lake Economic Development Authority 1 | P a g e ## Big Lake Economic Development Authority (BLEDA) Strategic Plan 3-Year Perspective – 2024 through 2026 This Strategic Plan provides a realistic and practical approach to economic development goals and activities for the BLEDA. The purpose is to guide BLEDA Commissioners and its staff to focus on economic development priorities. This Strategic Plan will improve accountability for the BLEDA Commissioners along with its staff, and will improve the capacity to measure outcomes. The BLEDA Priority: To efficiently facilitate development while equally supporting the Big Lake business community and driving economic growth. ## Strategy: Market the City of Big Lake ## Work Plan Objectives ## 1. Administer the Business Retention & Expansion Program (BR&E) Strategy: Market and Sell Industrial Park Phase II Land by December 31, 2026. ## Work Plan Objectives 1. Appropriately stage the property (schedule lawn maintenance, install signage, etc.) ## 2. Direct market to Real Estate Brokers and Developers 3. Participate in relevant expos, site selector events, forums, conferences, etc. Strategy: Recognize BLEDA & City-owned commercial and residential property. Cultivate a development/redevelopment plan for each parcel. ## Work Plan Objectives 1. 420 Putnam Avenue (BLEDA-owned) – PID 65-403-0430 • Monitor contiguous parcels and position BLEDA to acquire properties • Hold parcel for commercial development • Identify and eliminate road blocks for development / redevelopment • Determine when and how to market parcel 2. City Hall (City-owned) – PID 65-477-0110, PID 65-477-0105, PID 65-477-0010 & former Community School Building (BLEDA owned) - PID 65-477-0115 • Streamline property for redevelopment opportunity 3. 421 Foley Avenue (BLEDA-owned) PID 65-408-0310 & PID 65-408-0320 • Monitor contiguous parcels and position BLEDA to acquire properties • Hold parcel for development • Identify and eliminate road blocks for development / redevelopment • Determine when and how to market parcel 4. Northeast corner of Martin Avenue & Eagle Lake RD (BLEDA-owned) PID 65-00584-0105 • Monitor contiguous parcels and position BLEDA to acquire properties • Hold parcel for development 2 | P a g e Strategy: Recognize privately-owned commercial, industrial and residential property and cultivate a development/redevelopment plan for each parcel. ## Work Plan Objectives 1. ## Innovation Industrial Park – I-3 Zoning District ## RiverWood Bank – Big Lake Marketplace East ## Transit Oriented Development District Smith Property North of Old National Bank and Big Lake Dental Property on East Side of the City out to 15 (Innovation Industrial Phase II and III?) ## All Building’s Located within the Downtown District ## Mr. Gramsey’s Property on West Side of City ## Mr. Berndt’s Property on West Side of City Strategy: Increase BLEDA Community Presence. ## Work Plan Objectives 1. Maintain extensive knowledge of all business financing tools (federal, state, local, etc.) 2. Work in partnership with the Big Lake Finance Director to discover budgeting options for the BLEDA to consider • Create a financial “handbook” that clearly explains all BLEDA finances • Review and make recommendation on annual budget. 3. Author a successful Minnesota Investment Fund (MIF) Application to MnDEED to become a financial pass-through for an eligible expanding business and to generate up to $100,000 for the BLEDA 4. Invest time into building and expanding relationships with Big Lake businesses, Big Lake Schools, Big Lake Township, Sherburne County, Big Lake Chamber, regional partners, developers, Realtors, investors, etc. 5. Promote and administer the Big Lake EDA Revolving Loan Fund 7. Promote business friendly community 8. Participate in Big Lake Chamber Community Fair, Big Lake High School Apprenticeship ## Program, and Big Lake Schools Career Fair ## Strategy: Review Policies related to Economic Development ## Work Plan Objectives 1. Review BLEDA’s Revolving Loan Fund Policy – Completed 9/2024, 4/2026 2. Participate in update of City’s land use and zoning regulations (TOD, Shoreland, etc.) Conditions to be met for the possibility of a public partnership in redevelopment opportunities: • Commercial component must be included in the concept • Concept must increase the tax base • Concept must promote an economic value • Identify and eliminate road blocks for development / redevelopment Determine when and how to market parcel 5. Develop a list of all City-owned and BLEDA-owned parcels – ask key staff as to why the parcels are being held – Market the parcels that the City can part with ## Prepared By: ## Marie Popp, BLEDA Executive Director ## Meeting Date: 6/8/2026 Item No. ## 6B ## Item Description: ## Letters of Support Request - Sand Development, LLC ## Reviewed By: Hanna Klimmek, City Administrator ## Reviewed By: Deb Wegeleben, Finance Director ## ACTION REQUESTED Motion to recommend City Council approval of the letters of support for the Sand Development, LLC apartment project. ## BACKGROUND/DISCUSSION Sand Development LLC has requested letters of support from the City Council to accompany their application for Minnesota Housing financing. The proposed project would be submitted as part of the upcoming MN Housing funding cycle, and the developer is seeking formal acknowledgment of local support to strengthen their submission. The company is proposing to construct a 48-unit apartment building near Goldenrod Glen. The units would be income restricted to 60% of the area median income (currently $79,440 for a family of 4). Some of the units will be further restricted depending on final counts for the MN Housing application. Similar letters of support were completed for Aeon for the Goldenrod Glen apartment project. If BLEDA recommends approval of the letters, the final drafts will be in the June 17 th Council meeting packet. ## ATTACHMENTS ## Draft Minnesota Housing Finance Multifamily Underwriter Letter ## Draft Minnesota Housing Finance Multifamily Development Letter ## AGENDA ITEM ## Big Lake Economic Development Authority _______________________, 2026 ## Minnesota Housing Finance Authority ## 400 Wabasha Street, Suite 400 ## Saint Paul, Minnesota 55102 RE: Housing Tax Credit Program: Apartments in Big Lake, MN ## Dear MN Housing Multifamily Underwriter: The City of Big Lake is an established community located within Sherburne County that has been engaged in comprehensive community planning for decades. Big Lake’s current plan, 2018 Comprehensive Plan, included meetings and discussions with stakeholders and community members, landowners, and local businesses. In 2018, the City of Big Lake adopted its current 2018 Comprehensive Plan, which builds upon the previous plan’s goals and policies for future growth. With the guidance of the Comprehensive Plan, Big Lake’s residents, elected and appointed officials, and City staff will continue working to realize our collective vision for the community as outlined below. ## Goals and Objectives The goals and objectives of the Comprehensive Plan are outlined in each section, and they represent a wide variety of Natural, Cultural and Agricultural Resources (page 3-1), Land Use and Growth Management (page 4-1), Transportation (page 5-1), Parks, Greenways and Trails (page 6-1), Public Utilities and Surface Water Management (page 7-1), Economic Development and Marketing (page 8-1), and Housing (page 9-1) for the City of Big Lake. Among the goals related to housing, affordable housing is identified under the housing goals. Through these goals, the City of Big Lake has identified two goals in the Comprehensive Plan that target affordable housing – (1) “finding ways to encourage private market to provide decent and affordable housing for all families, households and individuals” (see page 1-4 and 9-1) and (2) provide “a wide variety of housing options for people in all stages of life” (see page 10-2). ## Boundaries of the Targeted Geographic Area Because the Comprehensive Plan applies to all the land within Big Lake’s boundaries (see page 4-8), the targeted geographic area of the comprehensive plan is the entire city. ## Stakeholders and Roles The stakeholders for the Comprehensive Plan included City staff, Planning and Zoning Commission, City Council, and residents and community members. On July 11, 2018, City Council approved the Comprehensive Plan through City Resolution. The roles of the City Councils, City Planning Commission, City Staff, Citizens Advisory Committee and Planning Consultants, residents and community members, and local businesses in the Comprehensive Plan were to provide input to the City through feedback at local meetings and workshops. ## Timeline of Current Implementation Activities The City of Big Lake has implemented initiatives outlined in the current Comprehensive Plan. Generally, those include: ## • Land Use and Growth Management Plan o New housing –  Residential Mixture for diverse housing options • Single family and multifamily housing options have grown over the last several years to bring in new and a variety of housing choices. Developments include o New Commercial and Industrial –  Multiple projects have constructed over the last several years bringing in new jobs and tax base. Projects include M&M Precision Machine, White Bear Clothing, Rawr ## Organics, Premier Marine, Covenant Christian Academy, Nord Excavating, • Transportation o To improve traffic management and safety, the city has completed or taken steps forward with multiple transportation related projects. Key projects include the extension of Minnesota Avenue, an east-west collector street reducing the number of local trips requiring access to Highway 10 to improve safety. ## • Parks, Greenways, and Trails o New trail infrastructure was installed along portions Minnesota Avenue and 198 th ## Avenue to continue to build out local trail networks for recreation and transportation opportunities. o In 2026, the City of Big Lake is replacing multiple parks with newly updated equipment. This furthers the city’s goal of further improving existing parks and parkland. Should you have any questions, please do not hesitate to call me at 763-463-9638. ## Sincerely, ## City of Big Lake ## Marie Popp ## Community Development Director ## Big Lake Economic Development Authority Executive Director 763-463-9638 ## Mpopp@BigLakeMN.org ## [City of Big Lake Letterhead] ________________, 2026 ## Minnesota Housing Finance Agency ## 400 Sibley Street, Suite 300 ## St. Paul, Minnesota 55101 ## Attention: Multifamily Underwriting ## RE: Housing Tax Credit Program ## BIG LAKE, MINNESOTA. ## Dear Multifamily Development: The City of Big Lake is a community made up of residents, businesses and institutions sharing a common history. Diverse, affordable and high-quality housing and neighborhoods are critical components in defining Big Lake. They help maintain a healthy tax base and attract and retain residents, as well as businesses to the community. Healthy neighborhoods bring vitality and promote investment in the larger community, providing a firm foundation plan for Big Lake’s future. The City’s Comprehensive Plan sets goals and policies emphasizing the establishment of life cycle housing, planning and future land use for all market needs including affordable housing. Developers and the City must be partners to cooperatively develop housing plans to provide workforce housing in Big Lake. At its meeting on June ____ 2026, the Big Lake’s City Council reviewed and supported the housing development proposal that proposes approximately 48 units of new construction apartment homes in the City of Big Lake to meet the housing goals of its Comprehensive Plan. This endorsement is based upon the findings that the project will meet locally identified housing needs and that the proposed housing is in short supply in the local housing market. These findings are evidenced by the Sherburne County Comprehensive Housing Needs Analysis from September 2024 which states that 260 units of affordable rental housing are needed between 2023 and 2030 with affordable housing needed in Big Lake (Comprehensive Housing Needs Analysis for Sherburne County, Minnesota, prepared by Maxfield Research in September 2024). ## Sincerely, ## Marie Popp ## Community Development Director ## City of Big Lake ## Prepared By: ## Deb Wegeleben, BLEDA Assistant Treasurer ## Meeting Date: 6/8/2026 Item No. ## 6C ## Item Description: ## BLEDA Finance Report and List of Claims for May 2026 ## Reviewed By: Marie Popp, BLEDA Executive Director ## Reviewed By: Hanna Klimmek, City Administrator ## ACTION REQUESTED Approve the BLEDA Financial Report and List of Claims for May 2026 as presented. ## BACKGROUND/DISCUSSION ## Big Lake Economic Development Authority (BLEDA) ## Financial Summary – May 2026 ## Revenues: As of May 2026, BLEDA revenues are trending ahead of budget expectations due to the following: • Receipt of five (5) months of rent payments from Pizza Factory, which were not included in the 2026 adopted budget. • Interest earnings have been posted through April. • Property taxes revenues will be received later in the year, with distributions typically occurring in July and December. • Received the funds for the sale of the parcel to Pizza Factory ## Expenditures: Through May month-end, approximately 69% of the total 2026 budgeted expenditure has been incurred. The higher percentage early in the year is primarily due to the annual $50,000 transfer to the Industrial Park Fund, which reimburses prior assessments that helped make the industrial park property shovel ready for development. Expenses associated with BLEDA-owned properties include: ## Pizza Factory / Old School Building: • Cleaning Services – $2,450.00 • Garbage Removal – $897.45 • Electricity – $1,822.01 • Natural Gas – $1,607.19 • Water/Sewer Utilities – $2,746.10 • Liability Insurance – $2,441.25 • Real Estate Taxes – $1,914.00 ## AGENDA ITEM ## Big Lake Economic Development Authority ## 421 Foley Avenue: • Other Consultants – $8,544.00 ## • Fund Balance As of the end of May, the total BLEDA fund balance is $490,034.52. This amount includes the $150,000 transfer from the 2026A Bond proceeds, which reimbursed the Authority for land purchase associated with the future Public Safety Facility. It also reflects the establishment of a new $25,000 Revolving Loan for the Pizza Factory. Fund balance designations are as follows: ## Designation Amount ## Designated – Future Development Projects $330,155.38 ## Designated – Revolving Loan Program $ 75,000.00 ## Unreserved Operating Fund Balance $ 84,879.14 ## Total Fund Balance $490,034.52 The proceeds from the sale of the parcel to the Pizza Factory created the positive unreserve operating fund balance. Staff has adjusted the Future Development Projects designation to reflect costs incurred to date for the 421 Foley cleanup project, as well as the reimbursement for the land purchase related to the future Public Safety Facility site. Staff will continue to monitor BLEDA’s financial position and will bring forward any recommended adjustments, if needed, to maintain long-term financial stability. ## ATTACHMENTS ## BLEDA Financial Report ## List of Claims ## List of Revenues unaudited ## AssetsBalance ## Cash465,886.81 Taxes Receivable - Delinquent1,420.84 **adjustment each year end ## Lease Receivable51,660.71 Pizza Factory ## *Notes Receivable25,000.00 Pizza Factory ***Land Held for Resale436,620.68 ## Total Assets980,589.04 ## Liabilities and Fund Balance ## Accounts Payable852.29 ## Prepaid June Invoice - 250 Deferred Revenue1,420.84 Delinquent Taxes Deferred Inflows - Lease receivables51,660.71 Pizza Factory lease ## Unspendable Fund Balance436,620.68 Land Held for resale ## Designated Fund Balance405,155.38 Revolving Loan Fund/Development Projects ## Undesignated Fund Balance84,879.14 ## Total Liabilities & Fund Balance980,589.04 - ***Land Held for Resale 420 Putman (2018)10,874.65 ## PID # 65-403-0430 421 Foley (2022)50,746.03 PID #65-408-0230,310,320 Smith Property- PID 65-00020-2400 - RECEIVED FUNDS ## Old School Building (2023)375,000.00 PID #65-584-0105 436,620.68 ## Comments ## Big Lake Economic Development Authority ## Balance Sheet 5/31/2026 unaudited % of budget year41.67%5/31/20255/31/202612/31/2026 ## Prior YTDCurrent YTD ## Current ## Budget ## Assets 275-1000Fund Cash193,422.13 465,886.81 275-1070Taxes Receivable-Delinquent1,411.97 1,420.84 275-1360Lease Receivable73,490.93 51,660.71 ## 275-1605Land Held For Resale586,620.68 436,620.68 ## Total Assets854,945.71 980,589.04 ## Liabilities 275-2020Accounts Payable(284.29) (852.29) 275-2220Deferred Revenues(1,411.97) (1,420.84) 275-2492GASB 87 Def Inflow-leases(73,490.93) (51,660.71) ## Total Liabilities(75,187.19) (53,933.84) ## Equity 275-2530Unreserved Fund Balances(849,267.20) (842,152.12) (Excess)/Deficit of Revenues69,508.68 (84,503.08) ## Total Net Position(779,758.52) (926,655.20) ## Total Liability and Net Position(854,945.71) (980,589.04) - - 5/31/20255/31/202612/31/2026 ## Prior YTDCurrent YTD ## Current ## Budget ## Budget ## Remaining % of ## Budget ## Revenues 275-000-3101RE & PP Taxes-Current- - 158,400.00 158,400.00 0% 275-000-3102RE & PP Taxes-Delinquent- - 400.00 400.00 0% 275-000-3375Miscellaneous Revenue- 250.00 - (250.00) 275-000-3940Lease/Rental/CAM Income10,000.00 10,000.00 - (10,000.00) 275-000-3945Loan Repayment Revenue- - - - 275-000-3950Property Sales- 164,781.94 - (164,781.94) 275-000-3990Loan Interest Revenue- - - - 275-000-3991Leases Interest Revenue- - - - 275-000-3999Interest Earned2,776.69 2,704.32 2,500.00 (204.32) 108% 275-000-4152Resitution/Damage Payments- 200.00 - (200.00) Total Revenues 12,776.69 177,936.26 161,300.00 (16,636.26) 110% ## Expenditures 275-000-00-05-4002Wages10,788.71 13,428.35 36,069.00 22,640.65 37% 275-000-00-05-4008Insurance Benefits (er)1,119.43 2,110.65 4,991.00 2,880.35 42% 275-000-00-05-4009HSA Accounts208.32 104.20 250.00 145.80 42% 275-000-00-05-4010F.I.C.A./Medicare (er)754.39 884.14 2,760.00 1,875.86 32% 275-000-00-05-4012P.E.R.A. (er)809.12 1,007.11 2,706.00 1,698.89 37% ## 275-000-00-05-4021PFMLA- 61.00 160.00 99.00 38% 275-000-00-20-4140Audit513.00 1,898.75 1,200.00 (698.75) 158% 275-000-00-20-4150Engineering- - 250.00 250.00 0% 275-000-00-20-4170Legal35.00 126.00 6,000.00 5,874.00 2% 275-000-00-20-4180Other Consultants- 8,544.00 5,000.00 (3,544.00) 171% 275-000-00-25-4120Real Estate Taxes2,268.00 1,914.00 2,758.00 844.00 69% 275-000-00-25-4134Website250.00 - 250.00 250.00 0% 275-000-00-25-4209Recording Fees/Settlement chgs- 46.00 500.00 454.00 9% 275-000-00-25-4212Other Operations Expenses5.58 - 50.00 50.00 0% 275-000-00-25-4215Uniforms/Clothing- - 100.00 100.00 0% 275-000-00-25-4217Cleaning Services1,943.96 2,450.00 1,700.00 (750.00) 144% 275-000-00-25-4220Advertising- - 2,000.00 2,000.00 0% 275-000-00-25-4225Sanitation/Garbage Removal2,408.08 897.45 - (897.45) 275-000-00-25-4235Postage- 10.20 25.00 14.80 41% 275-000-00-25-4238Training/Schools1,135.00 1,275.33 1,500.00 224.67 85% 275-000-00-25-4240Travel/Mileage- 59.45 150.00 90.55 40% 275-000-00-25-4243Meals- - 100.00 100.00 0% 275-000-00-25-4250Liability Insurance2,399.25 2,441.25 3,195.00 753.75 76% 275-000-00-25-4257Contractors Hired- - 100.00 100.00 0% 275-000-00-25-4540Repair/Maintenance Bldg held- - 1,500.00 1,500.00 0% 275-000-00-25-4570Electricity1,948.12 1,822.01 3,600.00 1,777.99 51% 275-000-00-25-4580Natural Gas3,483.02 1,607.19 3,240.00 1,632.81 50% 275-000-00-25-4590Water/Sewer Utilities2,202.69 2,746.10 2,400.00 (346.10) 114% 275-000-00-26-4222Marketing -Communications- - 10,000.00 10,000.00 0% 275-000-00-71-4612Transfers Out50,000.00 50,000.00 50,000.00 - 100% Total Expenditures82,285.37 93,433.18 142,554.00 49,120.82 66% ## BLEDA- 275 ## Financial Statements May 31, 2026 ## Balance Sheet ## Statement of Revenues, Expenditures, and Change ## in Fund Balances Net change in fund balance- increase(decrease) (69,508.68) 84,503.08 18,746.00 unaudited ## Big Lake Economic Development Authority ## Statement of Operating Revenues and Expenditures 5/31/2026 42% % of ## YTDYTD ## Budget Remaining Budget RevenuesPrior 2025 Actual 20262026BudgetRemainingComments RE & PP Taxes - Current- 158,400.00 158,400.00 Property Tax first payment was received in July - ## RE & PP Taxes - Delinquent- 400.00 400.00 ## Lease/Rental Revenue10,000.00 10,000.00 - (10,000.00) YE entries will be done for lease receivable/def inflow Property Sales164,781.94 - (164,781.94) - Sale to Pizza Factory ## Miscellaneous Revenue- 250.00 - (250.00) - 1% Revolving Loan Fee - Pizza Factory ## Restitution/Damage Payments200.00 - (200.00) ## Lease Interest Revenue - - - - YE entires will be done to record interest for lease Loan Interest Revenue- - - - Interest Earned2,776.69 2,704.32 2,500.00 (204.32) ## Sub Total Operating Revenues12,776.69 177,936.26 161,300.00 (16,636.26) -10% Total Revenues12,776.69 177,936.26 161,300.00 (16,636.26) 110% ## Expenditures Wages & Fringe13,693.67 17,595.45 46,936.00 29,340.55 Community Development Director - 25% Audit513.00 1,898.75 1,200.00 (698.75) Engineering- - 250.00 250.00 Legal35.00 126.00 6,000.00 5,874.00 ## O&E TITLE WORK Consultants- 8,544.00 5,000.00 (3,544.00) Old School Building - Phase I,II and TIF Analysis Real Estate Taxes2,268.00 1,914.00 2,758.00 844.00 421 Foley Website250.00 - 250.00 250.00 Recording Fees- 46.00 500.00 ## 454.00 Land Sales Other Operating Expenses5.58 - 50.00 50.00 . Advertising- - 2,000.00 2,000.00 Postage- 10.20 25.00 14.80 Contractors hired- - 100.00 100.00 For land owned - upkeep Sanitation/Garbage Removal2,408.08 897.45 - (897.45) Cleaning Services1,943.96 2,450.00 1,700.00 (750.00) Restrooms for Pizza Factory cleaning Liabilitiy Insurance2,399.25 2,441.25 (3,195.00) (5,636.25) Insurance on building Training/Schools1,135.00 1,275.33 1,500.00 224.67 Community Development Director - Conferences Travel & Mileage- 59.45 150.00 90.55 Meals- - 100.00 100.00 Uniforms- - 100.00 100.00 Repair/Maintenance Bldg Held- - 1,500.00 1,500.00 Electricity1,948.12 1,822.01 ## 3,600.00 Old School Building Natural Gas3,483.02 1,607.19 3,240.00 ## Old School Building Water/Sewer Bills2,202.69 2,746.10 2,400.00 (346.10) 421 Foley Marketing - - 10,000.00 10,000.00 Snow Removal- - - - ## Total Operating Expenditures32,285.37 43,433.18 86,164.00 39,320.02 46% ## Other Expenditures: Transfers - Fund 141 IPL50,000.00 50,000.00 50,000.00 - Transfer to Industrial Park Fund prior year assessments Total Other Expenditures50,000.00 50,000.00 50,000.00 - Total Expenditures82,285.37 93,433.18 136,164.00 39,320.02 69% ## Operating Revenues less ## Expenditures(69,508.68) 84,503.08 25,136.00 (55,956.28) ## Projected Fund Balance Inc/(Decr)(69,508.68) 84,503.08 25,136.00 ## Projected Cash balance Inc/(Decr)(69,508.68) 84,503.08 5/31/2026 ## Big Lake Economic Development Authority ## Designated Fund Balance ## 2022 Future Development Projects215,931.78 *421 Foley Avenue redevelopment work(35,776.40) *Reimbursement of Land Purchase (as of March 2026)150,000.00 ## Future Development Projects - ending Designated Fund Balance330,155.38 ## 2021 Revolving Loan Fund Established100,000.00 **Pizza Factory(25,000.00) ## Total Revolving Loan Fund - ending Designated Fund Balance75,000.00 405,155.38 ## Unreserve Fund Balance84,879.14 ## Total Fund Bal490,034.52 ## Reconciliation ## GL ## DEFERRED REVENUE - DELQ PROPERTY TAX RECEIVABLE1,420.84 ## UNRESERVED FUND BALANCE83,458.30 ## TOTAL OF UNRESERVE FUND BALANCE84,879.14 SAC CREDITS# credits o/s April 25, 2007 - SAC credits given to BLEDA 14.00 These credit have been awarded to project 11/2019(14.00) - ## Notes Receivable ## OriginalRemaining ## Interest ## DateBalanceBalanceTermsRateComments 04/30/2625,000.00$ 25,000.00$ 10 years4.75%First Payment 11/1/26 ## Big Lake Economic Development Authority ## Statement of Loan/Receivables Activity 5/31/2026 CITY OF BIG LAKEBLEDA EXPENDITURES DETAILPage: 1 Period: 05/26 - 05/26Jun 02, 2026 02:01PM ## ReferenceDebitCredit ## DateJournalNumberAmountAmountBalance ## Wages04/30/2026 (04/26) Balance10,654.43 ## 05/06/2026PC291,386.96 ## 05/20/2026PC791,386.96 YTD Encumbrance .00 YTD Actual 13,428.35 Total 13,428.35 YTD Budget 36,069.00 Unexpended 22,640.65 ## Insurance Benefits (er)04/30/2026 (04/26) Balance1,688.52 ## 05/06/2026PB73422.13 YTD Encumbrance .00 YTD Actual 2,110.65 Total 2,110.65 YTD Budget 4,991.00 Unexpended 2,880.35 ## HSA Accounts04/30/2026 (04/26) Balance83.36 ## 05/06/2026PB7410.42 ## 05/20/2026PB16410.42 YTD Encumbrance .00 YTD Actual 104.20 Total 104.20 YTD Budget 250.00 Unexpended 145.80 F.I.C.A./Medicare (er)04/30/2026 (04/26) Balance700.56 ## 05/06/2026PB7691.64 ## 05/20/2026PB16691.94 YTD Encumbrance .00 YTD Actual 884.14 Total 884.14 YTD Budget 2,760.00 Unexpended 1,875.86 P.E.R.A. (er)04/30/2026 (04/26) Balance799.07 ## 05/06/2026PB75104.02 ## 05/20/2026PB165104.02 YTD Encumbrance .00 YTD Actual 1,007.11 Total 1,007.11 YTD Budget 2,706.00 Unexpended 1,698.89 ## PFMLA04/30/2026 (04/26) Balance48.80 ## 05/06/2026PB776.10 ## 05/20/2026PB1676.10 YTD Encumbrance .00 YTD Actual 61.00 Total 61.00 YTD Budget 160.00 Unexpended 99.00 ## Audit04/30/2026 (04/26) Balance1,050.00 ## 05/21/2026AP566485.00 **Inv. No: 1287228 **Desc: 2026 AUDIT EDA **Inv. Date: 05/21/26 ## 05/21/2026AP572363.75 **Inv. No: 1287228 **Desc: 2026 EDA **Inv. Date: 05/21/26 YTD Encumbrance .00 YTD Actual 1,898.75 Total 1,898.75 YTD Budget 1,200.00 Unexpended (698.75) ## Legal04/30/2026 (04/26) Balance126.00 YTD Encumbrance .00 YTD Actual 126.00 Total 126.00 YTD Budget 6,000.00 Unexpended 5,874.00 ## Other Consultants04/30/2026 (04/26) Balance8,544.00 YTD Encumbrance .00 YTD Actual 8,544.00 Total 8,544.00 YTD Budget 5,000.00 Unexpended (3,544.00) ## Real Estate Taxes04/30/2026 (04/26) Balance1,914.00 YTD Encumbrance .00 YTD Actual 1,914.00 Total 1,914.00 YTD Budget 2,758.00 Unexpended 844.00 CITY OF BIG LAKEBLEDA EXPENDITURES DETAILPage: 2 Period: 05/26 - 05/26Jun 02, 2026 02:01PM ## ReferenceDebitCredit ## DateJournalNumberAmountAmountBalance ## Recording Fees/Settlement chgs04/30/2026 (04/26) Balance46.00 YTD Encumbrance .00 YTD Actual 46.00 Total 46.00 YTD Budget 500.00 Unexpended 454.00 ## Cleaning Services04/30/2026 (04/26) Balance1,960.00 ## 05/13/2026AP321490.00 **Inv. No: MAY 2026 CLEANING **Desc: ## PUBLIC BATHROOM - MAY 2026 **Inv. Date: 05/13/26 YTD Encumbrance .00 YTD Actual 2,450.00 Total 2,450.00 YTD Budget 1,700.00 Unexpended (750.00) ## Sanitation/Garbage Removal04/30/2026 (04/26) Balance897.45 YTD Encumbrance .00 YTD Actual 897.45 Total 897.45 YTD Budget .00 Unexpended (897.45) ## Postage04/30/2026 (04/26) Balance10.20 YTD Encumbrance .00 YTD Actual 10.20 Total 10.20 YTD Budget 25.00 Unexpended 14.80 ## Training/Schools04/30/2026 (04/26) Balance538.87 ## 05/11/2026AP270395.00 **Inv. No: May 11, 2026 CC **Desc: EDAM 2026 CONFERENCE/MARIE **Inv. Date: 05/11/26 ## 05/11/2026AP277341.46 **Inv. No: May 11, 2026 CC **Desc: 2026 EDAM CONFERENCE 6.3.26/MARIE **Inv. Date: 05/11/26 YTD Encumbrance .00 YTD Actual 1,275.33 Total 1,275.33 YTD Budget 1,500.00 Unexpended 224.67 ## Travel/Mileage04/30/2026 (04/26) Balance59.45 YTD Encumbrance .00 YTD Actual 59.45 Total 59.45 YTD Budget 150.00 Unexpended 90.55 ## Liability Insurance04/30/2026 (04/26) Balance2,441.25 YTD Encumbrance .00 YTD Actual 2,441.25 Total 2,441.25 YTD Budget 3,195.00 Unexpended 753.75 ## Electricity04/30/2026 (04/26) Balance1,822.01 YTD Encumbrance .00 YTD Actual 1,822.01 Total 1,822.01 YTD Budget 3,600.00 Unexpended 1,777.99 ## Natural Gas04/30/2026 (04/26) Balance1,607.19 YTD Encumbrance .00 YTD Actual 1,607.19 Total 1,607.19 YTD Budget 3,240.00 Unexpended 1,632.81 ## Water/Sewer Utilities04/30/2026 (04/26) Balance2,746.10 YTD Encumbrance .00 YTD Actual 2,746.10 Total 2,746.10 YTD Budget 2,400.00 Unexpended (346.10) ## Transfers Out04/30/2026 (04/26) Balance50,000.00 YTD Encumbrance .00 YTD Actual 50,000.00 Total 50,000.00 YTD Budget 50,000.00 Unexpended .00 CITY OF BIG LAKEBLEDA REVENUE DETAILPage: 1 Period: 05/26 - 05/26Jun 02, 2026 12:59PM ## ReferenceAccountDebitCredit ## DateJournalNumberPayee or DescriptionNumberAmountAmountBalance ## Inter-Govt Revenue04/30/2026 (04/26) Balance275-000-3160.00 05/12/2026AR64Payment Applied - 101-DFOG - SHERBURNE 200.00- YTD Encumbrance .00 YTD Actual -200.00 Total -200.00 YTD Budget .00 Unearned (200.00) ## Miscellaneous Revenue04/30/2026 (04/26) Balance275-000-3375250.00- YTD Encumbrance .00 YTD Actual -250.00 Total -250.00 YTD Budget .00 Unearned (250.00) ## Lease/Rental/CAM Income04/30/2026 (04/26) Balance275-000-39408,000.00- ## 05/05/2026CR100000144EDA LEASE REVENUE - PIZZA FACTORY MA2,000.00- ## Description: EDA LEASE REVENUE - PIZZA ## FACTORY MAY 2026 RENT - PIZZA FACTORY YTD Encumbrance .00 YTD Actual -10,000.00 Total -10,000.00 YTD Budget .00 Unearned (10,000.00) ## Property Sales04/30/2026 (04/26) Balance275-000-3950.00 05/11/2026AR24Payment Applied - 101-AR - LANDTITLE164,781.94- YTD Encumbrance .00 YTD Actual -164,781.94 Total -164,781.94 YTD Budget .00 Unearned (164,781.94) ## Interest Earned04/30/2026 (04/26) Balance275-000-39992,821.00- ## 05/20/2026CRJE7APR INTEREST CORRECTION116.68 YTD Encumbrance .00 YTD Actual -2,704.32 Total -2,704.32 YTD Budget -2,500.00 Unearned (204.32) ## 6D ## Community Development Department Update ## Prepared By: Marie Popp, Community Development Director • Timber Trails Concept Plan (formerly Hudson Woods): JP Brooks submitted a concept plan for a residential development expansion adjacent to Hudson Woods. Planning Commission and City Council will review the concept at the June meetings. • Development Pipeline: Staff continues to receive inquiries on residential, commercial, and industrial projects. Interest remains high. • 421 Foley Avenue: The State of MN stated they are working on the Letter of No Association for the City/BLEDA which will clarify that any clean up actions the City takes will not associate us as the responsible party creating the contaminated conditions. In short, this is a legal protection for the City. We anticipate receipt of this letter soon but have been notified it is taking longer than expected due to multiple state employees being on leave at the same time. Following receipt of the letter, we will be finalizing the scope of work for quotes on building demolition. ## • Community Development Technician Position: Martha Dougherty joined the Community Development team on May 21 st ! Welcome, Martha! • Cobblestone Second Additional Final Plat was successfully recorded on 5/26/26. Engineering met with the Auto Zone team for a pre-construction meeting for construction to begin soon. • Procedures: Staff is working on internal procedure updates and review of current ordinances to find opportunities for clarity, efficiency, and modernization. This is an ongoing project. ## Permit Numbers YTD ## Permit Type ## Permits YTD (5/26/26) ## New Single-Family ## Construction 4 ## New Multi -Family Construction 0 ## New Commercial Construction 0 ## Commercial Projects (Remodel) 3 Misc 278 ## TOTAL 285 ## TOTAL VALUATION $6,698,770