--- ## author: Gina Wolbeck date: D:20260729140102-05'00' --- ## JOINT POWERS BOARD MEETING ## MONDAY, AUGUST 3, 2026 5:00 p.m. ## BIG LAKE CITY COUNCIL AND BIG LAKE TOWNSHIP BOARD ## BIG LAKE CITY COUNCIL CHAMBER ## 160 LAKE STREET NORTH, BIG LAKE, MN ## 1) CALL TO ORDER ## 2) PLEDGE OF ALLEGIANCE ## 3) ROLL CALL ## 4) ADOPT PROPOSED AGENDA ## 5) BUSINESS 5A. Consider Letter of Intent to Acquire Real Estate – PSBX Real Estate LLC for ## Parcel No. 65-00590-0110 ## 6) ADJOURN Disclaimer: This agenda has been prepared to provide information regarding an upcoming meeting of the Big Lake Joint Powers Board comprised of members of the Big Lake City Council and Big Lake Township Board. This document does not claim to be complete and is subject to change. ## Prepared By: ## Marie Popp, Community ## Development Director ## Meeting Date: 8/3/2026 ## ☒Regular Agenda Item ☐C onsent Agenda Item Item No. ## 5A ## Item Description: Letter of Intent from PSBX Real Estate LLC to Acquire Lot 2, Block 1 Big Lake Industrial Park East Plat Six ## Reviewed By: Hanna Klimmek, City Administrator and ## Gina Wolbeck, City Clerk ## Reviewed By: Deb Wegeleben, Finance Director ## ACTION REQUESTED 1.Motion to approve Letter of Intent from PSBX Real Estate LLC to acquire Lot 2, Block 1 Big Lake Industrial Park East Plat Six. (If #1 is approved, then staff requests item #2) 2.Motion to approve a Right of Entry Permit with PSBX Real Estate, LLC. ## BACKGROUND/DISCUSSION PSBX Real Estate, LLC is seeking approval of a Letter of Intent (LOI) to purchase property in Phase II of Big Lake Industrial Park East to construct a new cannabis grow and processing facility. The first phase is estimated at 4,200 square feet with four full-time positions. The site will have room for expansion, estimated to be around 33,000 square feet at full build out. If the Joint Powers Board approves the LOI, the Contract for Private Development will be finalized and brought back to a future joint meeting for review and approval. The final site and building plans will need to be submitted and approved by the Architectural Review Board and City prior to the land sale. ## Overall Site Information: Property Owner: City of Big Lake and Big Lake Township Legal Description: Lot 2, Block 1, Big Lake Industrial Park East Plat Six ## Future Land Use Plan: Industry or Office ## Zoning District: Industrial Park (I-1) Size 2.25 acres ## Use Cannabis Grow and Processing Facility ## FINANCIAL IMPACT If the Letter of Intent (LOI) is approved, the sale of the designated parcel within the Big Lake Industrial Park will result in a purchase price of $0.00. The estimated market value of the property is $78,400, based on Sherburne County valuation data. ## T he public purpose of the financial assistance, in the form of a forgivable loan, is to support business growth within the City, strengthen the local tax base, and ensure long‑term employmen…