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Committee backs phased Lambert Woods South cooperative, lowers city loan recommendation to $2.2M and approves TIF term
Summary
The Portland Housing Committee on Aug. 2 recommended City Council approve a phased plan and related contract amendments for Lambert Woods South, a cut to the city loan request to $2.2 million, and a 30‑year affordable housing TIF returning 75% of incremental tax revenue to the developer.
The Portland City Council Housing Committee on Aug. 2 recommended three actions to the full City Council related to the Lambert Woods development in North Deering.
First, the committee recommended approval of a proposed third amendment to the city’s purchase‑and‑sale agreement for Lambert Woods South. Mary Davis, the city’s housing and community development director, told the committee the amendment would permit phase‑based development and would extend the developer’s closing timeline by one year. The amendment also limits the city’s obligation to reimburse certain predevelopment costs to those incurred prior to Jan. 25, 2025 and to specific categories (design, architecture, engineering, environmental, legal and third‑party report fees, and permitting/approval fees). Corporation counsel reviewed the amendment, staff said.
Second, the committee recommended lowering the prior funding recommendation from up to $4,000,000 to $2,200,000 from the Josie Doosan Housing Trust Fund for Lambert Woods South. Matt Peters said the site is permitted for 90 homes overall and will be phased; the first phase will be 22 homes with associated stormwater, parking and right‑of‑way improvements. Peters said the developer plans to start construction on the first phase in early 2026.
Third, the committee recommended approval of the project’s affordable housing tax increment financing district and the credit enhancement agreement that would return 75% of increased property tax revenue to the developer over 30 years. Staff said the terms and obligations of the previously vetted district and agreement have not changed.
Mary Davis and Matt Peters told the committee that Lambert Woods North — a separate parcel on the larger site — has transferred its purchase and sale to Preservation of Affordable Housing (POAH) and that the North site will likely proceed as a low‑income housing tax credit (LIHTC) project. Staff said financing delays with MaineHousing have prompted developer consideration of an application to the Josie Doosan Housing Trust Fund; staff had not yet received an official application as of the meeting.
The committee voted to forward the three recommendations to the full City Council. Roll calls recorded committee members voting yes on the three motions. Staff said the developer is reducing its request because its financing strategy changed and the HUD lending model previously discussed will not be used for the current phased plan.
City staff said they will prepare the amendment language and any related documents for City Council review. The recommended funding and TIF require final City Council approval and, where applicable, external approvals tied to state financing programs.
