CONTRACTAPPROVED

Town of Beals Awards $1,000,000 Credit Enhancement Contract to Auburn Town Center Apartments (January 2025)

Disclosed value: $1,000,000.00; From minutes
Approved: Jan 6, 2025
Term: 30 years

What it covers

Credit Enhancement Agreement for 63 Academy Street (Charles Jordan House) calls for 50% of the taxes paid on the increased new value to be returned to the developer up to and not to exceed $1,000,000.00 over the 30-year life of the TIF.

Who holds it

Auburn Town Center Apartments holds this credit enhancement contract with Town of Beals. Its other public contracts on record include work for City of Auburn and Town of Auburn.

What happens next

Term as filed: 30 years.

See who signed off on this $1M contract.

See who signed off

Free account · 30-second setup · No credit card

Contract details

Contract type: Credit Enhancement
Amount: $1,000,000.00
Document date: January 6, 2025
Term: 30 years
Vendor: Auburn Town Center Apartments
Agency: Town of Beals
Source document: city-of-auburn-council-meeting-minutes-january-6-2025_8a2.pdf (Minutes)

Auburn Town Center Apartments's other public contracts

City of Auburn, MaineAuburn Town Center Apartments, LLC awarded $50,000 property sale contract · Apr 22, 2025$50K City of Auburn, MaineAuburn Town Center secured $1M Tax incentive · Mar 17, 2025$250K Town of Auburn, KansasAuburn Center Apartments gets 30 year tax incentive · Jan 6, 2025$1M City of Auburn, MaineAuburn Town Center gets incentive and Tax benefits · Jan 6, 2025$250K All Auburn Town Center Apartments contractsVendor profile

More Town of Beals contracts

Auburn Firefighters Association Local 797 International Association of Firefighters Afl-cioCouncil Approves New Firefighters Union Contract Effective July 2025 · Jul 7, 2025Undisclosed Auburn-lewiston ConsortiumCouncil Renews Auburn-Lewiston HOME Consortium Agreement · Jul 7, 2025Undisclosed Long-time Architect and EngineerSchool Committee Engages Architect and Engineer for Facilities · Jul 7, 2025Undisclosed Maine State Housing AuthorityCouncil Approves Affordable Housing TIF Reports to MaineHousing · Jul 7, 2025Undisclosed Auburn Exchange ClubFee Waived for Exchange Club Lobster Festival Food License · Jul 7, 2025 All Town of Beals activityAgency profile

Questions about this contract

Who was awarded the credit enhancement contract by Town of Beals?

Auburn Town Center Apartments was awarded this credit enhancement contract by Town of Beals, as recorded on January 6, 2025. The contract value is $1,000,000.00.

How much is the Auburn Town Center Apartments contract with Town of Beals worth?

The Auburn Town Center Apartments contract with Town of Beals is valued at $1,000,000.00, covering credit enhancement work.

What type of contract is this?

This is a Credit Enhancement contract, documented as a minutes record.

Where was this contract approved?

This contract appears in city-of-auburn-council-meeting-minutes-january-6-2025_8a2.pdf (Minutes), dated January 6, 2025 from Town of Beals. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

Show 2 more questions

What other contracts does Auburn Town Center Apartments hold?

Auburn Town Center Apartments may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

What is Town of Beals currently buying?

Explore Town of Beals's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

Work in government? Get Civic IQ free →

More Town of Beals contracts →Browse all agencies in Maine →