OFFICIAL COMMUNITY INFORMATION

Big Lake Economic Development Authority Meeting Packet — May 11, 2026

Meeting packet / agenda with minutes and staff reports

May 11, 2026

Published by City of Big Lake

IN PLAIN LANGUAGE

This packet is for the Big Lake Economic Development Authority (BLEDA) meeting on May 11, 2026 at 5:30 p.m. It includes the draft April 13, 2026 BLEDA meeting minutes, a staff report about two city‑owned lots on Highway 25 and Pleasant Avenue, a memo asking for discussion of city ordinances that businesses commented on, a request to review BLEDA’s Strategic Plan, the BLEDA financial report and list of claims for April 2026, and a Community Development Department update. The packet also contains financial tables showing BLEDA assets, liabilities, revenues, expenditures, and loan/receivable details as of April 30, 2026.

KEY TAKEAWAYS

May 11 meeting agenda items

The packet lists agenda items for discussion on May 11: two city‑owned parcels on Highway 25/Pleasant Avenue, ordinance feedback, the BLEDA Strategic Plan, the BLEDA financial report and list of claims for April 2026, and a Community Development Department update.

Draft minutes from April 13, 2026 are included

The packet contains the April 13, 2026 BLEDA meeting minutes (marked DRAFT / NOT YET APPROVED) for BLEDA review and approval.

Decisions recorded in the April 13, 2026 minutes

The April 13 minutes record several actions taken that day, including approving an amendment to a lease termination agreement with Big Lake Pizza Factory, adopting Revolving Loan Fund policy edits about nonprofit eligibility, approving the March 2026 financial report and claims, transferring an approved revolving loan from Big Lake Pizza Factory, Inc. to RM Specialties, LLC, and denying the sale of Parcel No. 65-00403-0430 (holding it for future development).

BLEDA fund balance and designations as of April 30, 2026

The packet shows a total BLEDA fund balance of $329,463.60. Designations include $330,155.38 for Future Development Projects and $75,000.00 for the Revolving Loan Program; an unreserved operating balance is shown as negative ($77,112.62) in the report.

Revenues and expenditures summary (through April 2026)

Revenues are noted as trending ahead of budget expectations in part from receipt of four months of Pizza Factory rent not in the 2026 budget. Through April about 63% of the 2026 budgeted expenditures had been incurred, largely due to a $50,000 annual transfer to the Industrial Park Fund.

Pizza Factory purchase and closing dates mentioned

Staff notes the City amended the Pizza Factory purchase agreement to allow closing on or before May 22, 2026, and that closing was scheduled for May 7 (per the Community Development Update).

DETAILS