City of Bath Awards Financial Services Contract to Dc Shipbuilders Llc (August 2025)

The Bath City Council approved a 30-year Credit Enhancement Agreement with DC Shipbuilders LLC for the 150 Congress Avenue Municipal TIF District. The developer will receive roughly $65,170 per year in tax increment revenues, totaling about $1.96 million, to support an 84-unit workforce housing project.

Scope & details

The full contract record, as filed.

Contract amount

Approximately $65,170 annually ($1,955,095 over 30 years in TIF revenue to developer)

Contract type

FINANCIAL_SERVICES

Contract term

From City’s 2026 fiscal year through March 31, 2056 (30-year TIF/CEA term)

Renewal date

2056-03-31

Renewal

TIF district and CEA run through the City’s 2055–2056 fiscal year; agreement allows amendments by mutual written consent. Noncompliance with the resident selection plan allows the City to retain 100% of TIF revenues for the remainder of the district term.

Document type

Agenda

Source document

city-of-bath-special-council-meeting-agenda-august-20-2025_54a.pdf

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by City of Bath?

Dc Shipbuilders Llc was awarded this financial services contract by City of Bath, as recorded on August 20, 2025. The contract value is Approximately $65,170 annually ($1,955,095 over 30 years in TIF revenue to developer).

How much is the Dc Shipbuilders Llc contract with City of Bath worth?

The Dc Shipbuilders Llc contract with City of Bath is valued at Approximately $65,170 annually ($1,955,095 over 30 years in TIF revenue to developer), covering financial services work.

What type of contract is this?

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

Where was this contract approved?

This contract appears in city-of-bath-special-council-meeting-agenda-august-20-2025_54a.pdf (Agenda), dated August 20, 2025 from City of Bath. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Dc Shipbuilders Llc hold?

Dc Shipbuilders Llc 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 Dc Shipbuilders Llc's profile

What is City of Bath currently buying?

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

View City of Bath's profile