SACO – The city has approved a monthly payment system for expenses related to Unit 91 is says will promote transparency.

The city acquired a property at 110 Main Street known as Unit 91 in January 2016 in lieu of unpaid property taxes from the Island Terrace Owners Association.

Unit 91 is a multi-use space in the otherwise residential Island Terrace condominium building. The unit encompasses about 29,000 square feet of a former mill building, plus an additional 29,000 on the lower level that includes a 41-space parking garage and storage area.

In August 2016, the city issued a request for proposals from potential buyers and received responses from four interested parties that were reviewed by a committee in December 2016, according to written City Council commentary.

The acceptance of a bid was held up by property issues including a heating and cooling engineering study and several easements that needed to be resolved, according to city officials.

The city listed the property with The Dunham Group in November. The property is listed for $450,000.

With the hope that the property would be sold, the city had not established a budget for expenses related to Unit 91 for the 2018 fiscal year.

The City Council on Monday voted that the city to set a monthly spending cap on expenses related to Unit 91.

City Administrator Kevin Sutherland said under this decision, the city will continue to pay condo fees of about $6,000 a month plus utilities that include heat and electricity. Any other fees that are more than $1,000 will be brought to the City Council, said Sutherland.

“City staff supports the transparent nature of this request,” according to written City Council commentary.

— Staff Writer Liz Gotthelf can be contacted at 282-1535, ext. 325 or egotthelf@journaltribune.com.