City of Bangor could assist Cedar Falls Resident Cooperative in buying their mobile home park | Local News [Video]

BANGOR — Last month we brought you the story of Ronnie Pinkham, Al MacVevin and their community: residents of Bangor’s Cedar Falls Mobile Home Park that have started a cooperative to buy the park after it went up for sale.

They need to secure millions in funding to be successful, and the City of Bangor may step in to help. 

The Cedar Falls Resident’s Cooperative has until January 2nd to obtain the required funding to buy their mobile home park. Cooperative members have been hard at work securing grants and loans to meet the 8 million dollar mark.

During Monday’s business and economic development meeting, Bangor’s City Council discussed appropriating $500,00 to residents. According to the City of Bangor’s Communication Manager Dave Warren, that funding will be given when a more complete financing plan is presented.

“I think this is a smart move, just builds more equity in the city,” shared Bangor …