CONTRACTRECOMMENDED

Committee Reviews Lambert Woods Tax Increment Financing

Disclosed value: 75% of increased tax revenues; From agenda
Document date: Jul 15, 2025
Term: 30 years

What it covers

The Housing & Economic Development Committee will consider confirming its May 7, 2024 recommendation involving Maine Cooperative Development Partners' Lambert Woods South project. The proposed tax increment financing and credit enhancement arrangement would return 75% of increased tax revenues to the developer for 30 years.

Who holds it

Maine Cooperative Development Partners holds this financial services contract with City of Portland.

What happens next

Term as filed: 30 years.

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Contract details

Contract type: Financial Services
Amount: 75% of increased tax revenues
Document date: July 15, 2025
Term: 30 years
Vendor: Maine Cooperative Development Partners
Agency: City of Portland
Source document: City of Portland Agenda Housing & Economic Development Committee Meeting 2025-07-15 (Agenda)

Maine Cooperative Development Partners's other public contracts

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Questions about this contract

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

Maine Cooperative Development Partners was awarded this financial services contract by City of Portland, as recorded on July 15, 2025. The contract value is 75% of increased tax revenues.

How much is the Maine Cooperative Development Partners contract with City of Portland worth?

The Maine Cooperative Development Partners contract with City of Portland is valued at 75% of increased tax revenues, 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 Portland Agenda Housing & Economic Development Committee Meeting 2025-07-15 (Agenda), dated July 15, 2025 from City of Portland. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

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What other contracts does Maine Cooperative Development Partners hold?

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

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

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