CONTRACTAPPROVED

City of Auburn Awards $1,000,000 Incentive Contract to Highgate Development (January 2025)

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

What it covers

Auburn approves a Credit Enhancement Agreement (CEA) calling for 50% of the taxes paid on the increased new value to be returned to Highgate Development, LLC up to and not to exceed $1,000,000.00 over the 30-year life of the TIF, for the Charles Jordan House project at 63 Academy Street.

Who holds it

Highgate Development holds this incentive contract with City of Auburn. Its other public contracts on record include work for Town of Auburn and Town of Beals.

What happens next

Term as filed: 30 years.

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Contract details

Contract type: Incentive
Amount: $1,000,000
Document date: January 6, 2025
Term: 30 years
Vendor: Highgate Development
Agency: City of Auburn
Source document: city-of-auburn-council-meeting-minutes-january-6-2025_988.pdf (Minutes)

Highgate Development's other public contracts

City of Auburn, MaineAuburn provides 1M tax incentives to real estate developer · Jan 6, 2025$1M Town of Auburn, KansasHighgate Development get 1 million credit enhancement contract · Jan 6, 2025$1M City of Auburn, Mainecity-of-auburn-agenda-2023-01-03_06e.pdf · Jan 3, 2023$50K Town of Beals, MaineHighgate Development LLC to purchase Auburn properties · Jan 3, 2022$50K City of Auburn, MaineHighgate Development LLC: Property Purchase Approved · Jan 3, 2022$50K All Highgate Development contractsVendor profile

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Questions about this contract

Who was awarded the incentive contract by City of Auburn?

Highgate Development was awarded this incentive contract by City of Auburn, as recorded on January 6, 2025. The contract value is $1,000,000.

How much is the Highgate Development contract with City of Auburn worth?

The Highgate Development contract with City of Auburn is valued at $1,000,000, covering incentive work.

What type of contract is this?

This is a Incentive contract, documented as a minutes record.

Where was this contract approved?

This contract appears in city-of-auburn-council-meeting-minutes-january-6-2025_988.pdf (Minutes), dated January 6, 2025 from City of Auburn. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

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What other contracts does Highgate Development hold?

Highgate Development 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 City of Auburn currently buying?

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

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