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Committee forwards leasehold mortgage enabling Hope House to seek Maine State Housing Authority funding
Summary
An assistant city solicitor told Bangor’s Finance Committee the city lease for Hope House allows the lessee to mortgage or assign its leasehold interest to obtain funding; Maine State Housing Authority was the named funding source. Committee moved the item to full council.
The Bangor City Finance Committee on Dec. 1 forwarded to the full council an order authorizing execution of a leasehold mortgage and security agreement concerning Hope House.
An assistant city solicitor told the committee that the city leases the land where Hope House operates to an entity identified in the transcript as BCFC and that the lease (memo referenced a date noted in the record)…
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