HomeMy WebLinkAbout2018-10-22 18-390 Order
10/22/201818-390
10/22/2018
18-390
Legal
Order
N/A
Title, Order
Authorizing Execution of Leasehold Mortgage and Security Agreement - Penobscot Community Health Center
and Maine State Housing Authority
The City of Bangor leases land to Penobscot Community Health Center, Inc. (PCHC) on Texas
Avenue for a dollar a year for its operation of the Hope House. PCHC obtains various funding,
including forgiveable loans. It has obtained a forgivable loan from the Maine State Housing
Authority in the amount of $65,000 for its its operation at Hope House. The loan will be secured by
PCHC's personal property and leasehold interest, A requirement for the loan is that the City of
Bangor as landlord subordinate its interest in the lease. The is standard in such cases.
This Order will authorize the City Manager to execute a Leasehold Mortgage and Security Agreement
between Penobscot Community Health Center and Maine State Housing Authority.
Recommend for passage
Consent
10/22/201818-390
CITY OF BANGOR ORDER
10/22/2018
18-390
Davitt
Authorizing Execution of Leasehold Mortgage and Security Agreement - Penobscot Community Health Center
and Maine State Housing Authority
WHEREAS, the City of Bangor leases land to Penobscot Community Health Center, Inc. (PCHC); and
WHEREAS, PCHC obtains various funding, including forgiveable loans; and
WHEREAS, PCHC has obtained a forgivable loan from the Maine State Housing Authority for its its operation at
Hope House on Texas Avenue on land leased from the City of Bangor, said loan to be secured by PCHC's
personal property and leasehold interest ; and
WHEREAS, a requirement for the loan is that the City of Bangor as landlord subordinate its interest in the
lease; and
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 a
Leasehold Mortgage and Security Agreement between Penobscot Community Health Center and Maine State
Housing Authority in a final form as approved by the City Solicitor.
IN CITY COUNCIL
OCTOBER 22, 2018
CO 18-390
PASSED
1J J 3Trc
CITY CLERK