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BLEDA unanimously approved Economic Development District No. 1 for three parcels to support planned financing for a new municipal building estimated at $35.38 million, including city hall, police facilities and a potential library.
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The approved district supports a planned lease-revenue bond structure for the public safety facility; the bonds would be repaid through city rental payments, and the city’s full faith and credit would not be pledged. BLEDA also approved a $25,000 revolving loan to Big Lake Pizza Factory for 10 years at 4.75% interest to help finance a building purchase, renovations and equipment. Staff reported $66,262,580 in permit valuation from improvements and new construction as of December 30, 2025.
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