FINANCIAL_SERVICESAPPROVED

City of Bangor Awards Financial Services Contract to Bangor Housing Development Corporation (August 2026)

The Bangor City Council authorized the City Manager to execute a 30-year Credit Enhancement Agreement with Bangor Housing Development Corporation for a portion of 205 Corporate Drive. The agreement returns 75% of real estate taxes on the increased property value to support a 30-unit supportive housing project under the Affordable Housing TIF program.

Status
APPROVED
Document date
August 17, 2026
Contract type
FINANCIAL_SERVICES
Vendor
Bangor Housing Development Corporation
Agency
City of Bangor · ME

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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
75% of real estate taxes on increased property value for 30 years
Contract type
FINANCIAL_SERVICES
Contract term
Thirty (30) years
Renewal date
2056-07-27
Renewal
Agreement term is fixed at 30 years, coinciding with the life of the Affordable Housing TIF; no explicit renewal or extension options are stated.
Document type
AgendaPacket
Source document
City of Bangor AgendaPacket Special Meeting 2026-08-17

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Frequently asked questions

Common questions about this contract, answered from the record.

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

Bangor Housing Development Corporation was awarded this financial services contract by City of Bangor, as recorded on August 17, 2026. The contract value is 75% of real estate taxes on increased property value for 30 years.

How much is the Bangor Housing Development Corporation contract with City of Bangor worth?

The Bangor Housing Development Corporation contract with City of Bangor is valued at 75% of real estate taxes on increased property value for 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 AgendaPacket Special Meeting 2026-08-17 (AgendaPacket), dated August 17, 2026 from City of Bangor. 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 City of Bangor currently buying?

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

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