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Bangor Housing Authority seeks TIF and credit enhancement to finance 30 supportive units; BHA and Preble Street describe model and costs
Summary
Bangor Housing Authority representatives described a Home for Good / Yellen Pines supportive housing project that would use MaineHousing award funds plus private investment and a proposed credit enhancement tied to a new TIF district; staff said no city capital dollars are requested and emphasized wraparound services and operating funding from vouchers and DHS.
A representative of the Bangor Housing Authority (introduced in the meeting as Jeremiah) described the agency's application for a tax‑increment financing district and a credit enhancement agreement to support 30 units of permanent supportive housing under Maine's Home for Good model. Jeremiah summarized funding sources: "we were able to receive, just over $4,200,000 in that 0% subsidy for MaineHousing... It costs a little over $7,000,000 to build this thing," and he said the agency will buy the land and use a mix of borrowing and sale of tax credits to close the financing gap while not requesting city capital dollars.
Jeremiah and BHA staff emphasized that the project targets the 30 hardest‑to‑house individuals and that service partners (Preble Street and Purple Street) will provide 24/7 supports and case management. Councilors asked about contractor selection, wage standards and contractor labor practices; BHA said LaJoy Brothers was selected as construction manager via a competitive process and affirmed Davis‑Bacon and Section 3 compliance for the project. Councilors asked for clarifications on total budget, operating assumptions and any potential city costs; BHA responded that operating expenses are expected to be covered by rents and vouchers and that service staffing is funded through state program dollars.
