Yellen Pines Affordable Housing TIF

At a glance

• What: order 26-282, an affordable housing tax increment financing (TIF) and credit enhancement agreement for Yellen Pines.
• Where it stands: passed as amended 5-3 on 2026-09-28 after a postponement motion failed 4-4 and a motion to postpone indefinitely failed 3-5.
• Next: no further action found.

Details

• No further detail in the sources read.

Sources

• Minutes of 2026-09-28: https://bangormaine.gov/AgendaCenter/ViewFile/Minutes/_09282026-931

Log

2026-09-21 - Business and Economic Development Committee

• Final application package, Development Program and Credit Enhancement Agreement presented; staff asked for a recommendation to Council. The program captures 100% of the increment for 30 years, with 75% returned to the developer under the agreement and 25% retained by the city. A Council public hearing was noticed for 2026-09-28.

2026-09-28 - City Council

• Passed as amended 5-3.