HomeMy WebLinkAbout2017-11-27 18-028 ORDERTitle, Order
CITY COUNCIL ACTION 11/27/2017 18-028
Council Meeting Date: 11/27/2017
Item No: 18-028
Responsible Dept: Community & Economic Development
Requested Action: Order Map/Lot: N/A
Authorizing Execution of Amendment to Subordination Agreement with Maine State Housing Authority
Summary
This order will amend the Subordination Agreement between the City of Bangor and Maine Housing dated
September 19, 2005. In 2004 the Maine State Housing Authority and the City of Bangor provided financing to
Community Housing of Maine, Inc. in connection with its development of property at 64-70 Bolling Drive and
31-37 Langley Street. In 2005 the city subordinated its loan to Maine State Housing.
The City has been asked to agree to amend the Subordination Agreement which would do the following: 1)
change all references of "MSHA" to "Maine Housing"; 2) change the address of the Developer; and 3) change
the wording of "seven units of transitional housing" to "seven units of permanent housing".
If approved, this order will amend the Subordination Agreement between the City of Bangor and Maine
Housing dated September 19, 2005 to reflect the changes indicated above.
This items was reviewed and approved by the Business and Economic Development Committee on November
21, 2017.
Committee Action
Committee: Business & Economic Development Committee Meeting Date: 11/27/2017
Action: Recommend for passage For: Against:
Staff Comments & Approvals
2tA ry
City Manager
Introduced for: Consent
City Solicitor
Finance Director
CITY OF BANGOR ORDER
Date: 11/27/2017
Item No: 18-028
Assigned to Councilor: Tremble
11/27/2017 18-028
Authorizing Execution of Amendment to Subordination Agreement with Maine State Housing Authority
WHEREAS, Previously, the Bangor City Council authorized the execution of a Subordination Agreement with
Maine State Housing Authority in connection with the development of a property by Community Housing of
Maine on 64-70 Bolling Drive and 31-37 Langley St.; and
WHEREAS, the City has been asked to amend certain details of the original agreement to change all
references of "MSHA" to "MaineHousing", to change the address of the Developer, and to clarify that the
housing will be permanent, not transitional.
Be it Ordered by the City Council of the City of Bangor that,
Catherin M. Conlow, City Manager, is hereby authorized on behalf of the City of Bangor, to execute an
amendment to the Subordination Agreement between the City of Bangor and Maine State Housing Authority
on September 19, 2005 to change all references of "MSHA" to "MaineHousing", to change the address of the
Developer, and to clarify that it is permanent housing. Said amendment shall be in a final form as approved
by the City Solicitor.
IN CITY COUNCIL
NOVEMBER 27, 2017
CO 18-028
PASSED
4-aJ
CITY CLERK