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Committee recommends removing Falmouth parcel from Lambert Woods purchase agreement
Summary
The Housing & Economic Development Committee voted unanimously to recommend an amendment that removes a Falmouth parcel (0 Grama Road) from a purchase-and-sale agreement tied to the Lambert Woods North LLC affordable housing project so the developer can proceed with tax-credit financing.
The City of Portland Housing and Economic Development Committee voted unanimously to recommend the third amendment to the first amended and restated purchase and sale agreement with Lambert Woods North LLC that removes the city-owned parcel at 0 Grama Road in Falmouth from the transaction.
Mary Davis, housing and community development division director, told the committee the city previously offered two parcels — 622 Auburn Street in Portland and 0 Grama Road in Falmouth — for an affordable housing development. "They have run into some issues which resulted in them approaching the city to see if there…
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