Mainebiz

V O L . X X I X N O. I X M AY 1 , 2 0 2 3 10 B U S I N E S S M A I N E B U S I N E S S M A I N E B U S I N E S S N E W S F RO M A RO U N D T H E S TAT E start its comprehensive planning pro- cess. The plan will provide Ellsworth citizens with the opportunity to provide input and guidance on the direction they want to see the city head over the next 10 years. U.S. Sens. Susan Collins and Angus King announced that Jackson Laboratory in Bar Harbor received $1.3 million from the National Institutes of Health for two research projects aimed at improving human health. One project will examine the relationship between exercise and cognitive function among the aging population and the other will study ways to improve regeneration of damaged human tissue. Coastal Mountains Land Trust in Belfast said it successfully completed the first year of its Waldo County Conservation Initiative by raising $280,805 in sup- port of the acquisition and stewardship of over 495 acres within the 12 Waldo County towns it serves. Bar Harbor Bankshares reported first quarter 2023 net income of $13.0 million or $0.86 per diluted share compared to $9.1 million or $0.60 per diluted share in the same quarter of 2022. In addition, the board of directors of the compa- ny voted to declare a cash dividend of $0.28 per share to shareholders of record at the close of business on May 16, 2023 payable on June 16, 2023. Orono man to pay $228K over PPP fraud claim An Orono man has agreed to pay just over $228,000 to settle a civil fraud case alleging that he illegally applied for, received and obtained forgiveness for two pandemic- era Paycheck Protection Program loans. Jacob Hennie has also been accused of fraudulently receiving a COVID-19 Economic Injury and Disaster Loan Emergency Advance, according to court papers filed in the U.S. District Court for the District of Maine. e com- plaint filed on April 14 alleged that in July 2020, Hennie said he oper- ated a business with nine employ- ees to receive a $9,000 Emergency Loan Advance when he did not operate any business. In February 2021, Hennie obtained a PPP loan in the amount of $18,625 based on alleged misrepresentations in loan applications, U.S. Attorney Darcie N. McElwee said in an April 18 news release. Hennie then obtained a second-draw PPP loan in the amount of $20,833 based on alleged fictitious business expenses, accord- ing to the release. Northern Light ends mask policy ree years after the start of the COVID-19 pandemic, Northern Light Health ended its statewide universal masking policy, effec- tive April 20. Masking will not be required for most patients, staff, and visitors who will not need masks in most areas of Northern Light Health facilities. Masks are still mandated in certain areas, including cancer care and infusion centers. N O T E W O R T H Y N O R T H E R N & E A S T E R N Katahdin Bankshares Corp., par- ent company of Katahdin Trust Co. in Houlton, announced 2023 first- quarter earnings of $2.5 million, or 77 cents per common share, exceed- ing the same timeframe last year by $744,000, or 42%. Total assets reached $982.1 million, an increase of $19.1 million when compared to the first quarter of 2022. B R I E F Turnkey lobster business in Hancock changes hands B y L a u r i e S c h r e i b e r H a n c o c k — A turnkey lobster pound, two homes and vacant waterfront in Hancock have been sold for $2.55 mil- lion to a buyer who has already found a seafood processing company to lease part of the property. The John Paul and Paige Helm Maginel Joint Revocable Trust purchased 126-136 Pound Road from Just in Case of Maine LLC. The property has been on and off the market since 2019, and includes the 31,064-square-foot lobster pound along with the two residences and land. Jonathan Rizzo and Joe Italiaander of the Boulos Co. arranged the transaction. "It was technically sold off market," Italiaander told Mainebiz. "We had this on and off the market over the years dating back to 2019." The pound is in good condition and was leased to a lobster wholesaler. The buildings and infrastructure are in good condition, said Italiaander of the location overlooking Mount Desert Narrows, and the property had seen significant interest over the years. The Maginels purchased the property as part of a 1031 exchange, allowing investors to swap out one property for another and defer capital gains or losses. The buyers were attracted by the significant water front- age and wide range of potential uses across the 40-acre site, according to a news release. Shortly after the sale, they leased a portion of the pro- cessing facility to MDI Fisheries Inc., a lobster wholesaler. "Paige and I are very excited and happy to have this oppor- tunity to enjoy such a special property in such a beautiful environment," said John Maginel. "Joe and Jonathan did a tremendous job negotiating the transaction and bringing it to closing. We look forward to working with them in the future." Just in Case of Maine is a lobster procurer that used the pound portion of the property, which has been a working lobster pound for many years, noted Italiaander. "Over the years, their geographic needs changed and therefore they did not require the full capacity of the prop- erty," Italiaander said. "They continue to operate out of a portion of the pound, along with MDI Fisheries Inc." He added, "John and Paige were the natural buyers for Pound Road, as they understood its importance to the lobster industry and the beauty of the island residences among the 40-acre property." P H O T O / C O U R T E S Y O F T H E BO U L O S C O. Paige and I are very excited and happy to have this opportunity to enjoy such a special property in such a beautiful environment. — John Maginel Co-purchaser A 31,000-square-foot lobster pound, two residences and vacant waterfront land at 126– 136 Pound Road in Hancock sold for $2.55 million. N O R T H E R N & E A S T E R N

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