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Committee advances leasehold mortgage for Main State House health center; city consent required on assignment
Summary
The Finance Committee moved to forward to council an order authorizing a leasehold mortgage and security agreement allowing PCHC to mortgage or assign its leasehold interest to obtain funding from Maine State Housing Authority; the solicitor said the state agency would step in if PCHC defaulted and the city would be asked to consent to any assignment.
The Finance Committee voted to forward to the full council an order authorizing execution of a leasehold mortgage and security agreement that would allow PCHC to mortgage, assign or transfer its leasehold interest in the Main State House health center in order to secure funding.
The Assistant City Solicitor explained that PCHC approached the city seeking funding through Maine State…
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