FINANCIAL_SERVICESRECOMMENDED

Staff Back 30-Year TIF Credit Enhancement for BHDC Project

Bangor staff recommend approving an Affordable Housing TIF District and 30-year Credit Enhancement Agreement with Bangor Housing Development Corporation for the Home for Good, Yellen Pines project. The proposed structure would reimburse 75% of an estimated $46,000 annual tax increment, providing around $1.035 million in support while retaining funds for other housing initiatives.

Status
RECOMMENDED
Document date
August 3, 2026
Contract type
FINANCIAL_SERVICES
Vendor
Bangor Housing Development Corporation
Agency
Bangor Public Schools · ME

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Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo

Scope & details

The full contract record, as filed.

Contract amount
Approximately $34,500 per year reimbursement; projected $1,035,000 total over 30 years
Contract type
FINANCIAL_SERVICES
Contract term
30-year Affordable Housing TIF Credit Enhancement Agreement term
Renewal date
2056-12-31
Renewal
CEA term aligned with MaineHousing’s required 30-year affordability period; no renewals discussed beyond that period.
Document type
AgendaPacket
Source document
City of Bangor Agenda Packet Weekly Meetings 2026-08-03

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Bangor Public Schools?

Bangor Housing Development Corporation was awarded this financial services contract by Bangor Public Schools, as recorded on August 3, 2026. The contract value is Approximately $34,500 per year reimbursement; projected $1,035,000 total over 30 years.

How much is the Bangor Housing Development Corporation contract with Bangor Public Schools worth?

The Bangor Housing Development Corporation contract with Bangor Public Schools is valued at Approximately $34,500 per year reimbursement; projected $1,035,000 total over 30 years, covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a agendapacket record.

Where was this contract approved?

This contract appears in City of Bangor Agenda Packet Weekly Meetings 2026-08-03 (AgendaPacket), dated August 3, 2026 from Bangor Public Schools. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Bangor Housing Development Corporation hold?

Bangor Housing Development Corporation may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

View Bangor Housing Development Corporation's profile

What is Bangor Public Schools currently buying?

Explore Bangor Public Schools's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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