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Town to Foreclose on Kilcollins'’ Main Street Property


Kilcollins Holds of Foreclosure by Paying UDAG Principle


By:  David Deschesne

March 28, 2018

Updated April 26, 2018


   FORT FAIRFIELD, Maine - The fire that leveled Bob Kilcollins’ auto service shop on Main Street on New Year’s Eve was just the beginning of his problems.  Now, the town of Fort Fairfield has commenced foreclosure proceedings against the land at that location.

   The land was pledged as collateral against a Urban Development Action Grant (UDAG) loan in the mid-1990s after the Great Flood that damaged many Main Street businesses in Fort Fairfield.

   The loan payments had been in arrears for over a decade, but the equity in the building and land had been sufficient collateral as Kilcollins was working to pay off the loan.  However, the fire that completely leveled the building put Kilcollins in an “upside down” position on the loan and the town issued a Demand Letter in February for the total outstanding principle of $21,924.15.  At the time of the letter Kilcollins owed the outstanding principle, plus another $9,435 in interest, bringing the total due to $31,359.14 with a March 14, 2018 deadline for payment.

   At the February Fort Fairfield Town Council meeting, Kilcollins had offered collateral in his Brown Street shop to help secure the loan.  But, the town council ultimately chose not to accept that option.

   Kilcollins, who is also a town councilor on the Fort Fairfield town council, temporarily stepped down from his position to address the rest of the council at their March 21, 2018 meeting.  “At this time, I recuse any decision on this matter,” said Kilcollins to the council, apparently meaning he removed himself from the decision process with regard to his UDAG loan. 

   The town council said nothing further on the subject and moved on to other business.

   According to town manager, Jim Risner, a day after the meeting, the UDAG loan remained unpaid and the town is going foreword with the foreclosure on the Main Street land that was outlined in the 30 day Demand Letter.

   In a special April 25, 2018 town council meeting, Kilcollins addressed the town council to advise that he would be able to pay the principle in full.  The town council agreed to accept his payment, waived the interest and agreed to accept payment in full for the legal expenses by attaching Kilcollins' town council member stipend payments through December, 2019.