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Bangor committee urged to subordinate deed restriction on 21 Eaton Place so owner can close rehab loan
Summary
Staff recommended the committee agree to subordinate a 2021 deed restriction on a house at 21 Eaton Place so the owner can obtain a rehabilitation loan; owner David Dillon described delays, costs and work already completed.
Bangor City Development Committee staff recommended the committee agree to subordinate deed restrictions on a house at 21 Eaton Place so the owner can secure a loan to complete a required $70,000 rehabilitation.
The recommendation came during the committee’s Sept. 3 open meeting, when staff described the 2021 sale condition that the property be rehabilitated at a cost of at least $70,000 and said the property owner recently asked to modify that agreement so a lender will make a rehabilitation loan.
Committee staff said the city has worked with its legal…
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