Bangor City Council approved an agreement with David S. Boyd, the former owner of the historic 30,000-square-foot Central Building in the city’s downtown, enabling him to regain ownership of the building he lost a little over a month ago due to unpaid taxes.
The Bangor Daily News reports that Bangor councilors approved the agreement with Boyd 8-1. Under the terms of the agreement, Boyd must submit a redevelopment plan for the vacant six-story building that includes a timetable for the property’s development, financing guarantees and detailed construction plans that include renovating the building’s first floor into a commercial space and façade improvements.
Boyd will also be responsible for paying back taxes on the building, which total $35,000, the BDN reports.
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