A Conversation on Bangor and Development with Bob Montgomery-Rice and Matthew Lewis

Bob Montgomery-Rice, President and CEO of Bangor Savings Bank, and Matthew Lewis, Director of Four Directions Development Corporation, sit down with MEREDA President Shannon Richards for MEREDA Matters - the podcast that lets you listen in on conversations with the people driving responsible development in Maine. In this episode, Montgomery-Rice and Lewis share their insight on the development landscape in the Bangor area. Lewis, a member of the Passamaquoddy Tribe, provides an overview of his non-profit, which is a Community Development Corporation (CDC) and Community Development Financial Institution (CDFI), enabling them to provide capital and resources in areas that are difficult for banks to access. Lewis goes on to share how historically Tribal communities have faced barriers to accessing capital, and how Four Directions pioneered a program for home ownership in Tribal Nations. The group goes on to discuss the need for creativity and collaboration in finding solutions to difficult problems like the housing crisis. Montgomery-Rice highlights a success story in Bangor – the Cedar Falls Mobile Home Park – as an example of the opportunities for innovative solutions. The group also delves into the current legislative session; how their work helps provide people access to owning property, which is crucial for wealth-building; and how the Bangor area has development opportunities at a lower price-point than the Portland market. Listen to the episode to learn more!