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Committee recommends removing Falmouth parcel from Lambert Woods North purchase agreement
Summary
The Housing and Economic Development Committee voted to recommend that the City Council approve an amendment removing a 0 Grama Road (Falmouth) parcel from the Lambert Woods North LLC purchase-and-sale agreement so the developer can proceed with a 72‑unit LIHTC project focused on the Portland parcel at 622 Auburn Street.
The City of Portland Housing and Economic Development Committee voted unanimously to recommend that the City Council approve a third amendment to the First Amended and Restated Purchase and Sale Agreement with Lambert Woods North LLC to remove a 0 Grama Road parcel in Falmouth from the transaction.
The amendment, presented by Mary Davis, housing and community development division director, would keep the Falmouth parcel in city ownership and allow staff to market it for a future sale with proceeds proposed to be transferred to the housing trust fund at a later date. "This item is before you to make a change to a project that most of you are familiar with," Davis said as she…
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