FINANCIAL_SERVICESRENEWED

City weighs renewal of homeless shelter bridge loan MOU

The City of Presque Isle is considering renewal of its Memorandum of Understanding with Homeless Services of Aroostook to provide up to $150,000 in short-term, interest-free bridge funding as a recoverable loan for shelter operations and payroll. Homeless Services of Aroostook expects to repay the loan using approximately $200,000 in state funding anticipated in late summer and under the existing 24‑month repayment structure.

Status
RENEWED
Document date
June 3, 2026
Contract type
FINANCIAL_SERVICES
Vendor
Homeless Services of Aroostook
Agency
City of Presque Isle · ME

Trusted by teams at

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
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
Up to $150,000
Contract type
FINANCIAL_SERVICES
Contract term
Twelve (12) months from the Effective Date, with loan repayment term of Twenty-Four (24) months
Renewal
Original MOU effective June 2025 for 12 months, with loan memorialized in a separate written agreement to be repaid over 24 months in $6,250 monthly installments; no loan forgiveness allowed. Renewal under discussion would replicate prior year terms, including bi-weekly payroll-based disbursements and repayment upon receipt of legislative shelter funding or over the 24‑month schedule.
Document type
AgendaPacket
Source document
City of Presque Isle Agenda Packet 2026-06-03

Related contracts

Other contracts from Homeless Services of Aroostook.

View all →

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by City of Presque Isle?

Homeless Services of Aroostook was awarded this financial services contract by City of Presque Isle, as recorded on June 3, 2026. The contract value is Up to $150,000.

How much is the Homeless Services of Aroostook contract with City of Presque Isle worth?

The Homeless Services of Aroostook contract with City of Presque Isle is valued at Up to $150,000, 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 Presque Isle Agenda Packet 2026-06-03 (AgendaPacket), dated June 3, 2026 from City of Presque Isle. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Homeless Services of Aroostook hold?

Homeless Services of Aroostook 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 Homeless Services of Aroostook's profile

What is City of Presque Isle currently buying?

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

View City of Presque Isle's profile

Bring us your territory.
We'll show you what is forming.

B2G and SLED sales intelligence. Surface government procurement signals from 80,000+ state, local, and education agencies months before the RFP.

Try Civic IQ for free