AUGUSTA, Maine — The owner of a historic Maine property that was saddled with debts has avoided foreclosure.

The Kennebec Journal reports ( ) that Tom Niemann, owner of the Kennebec Arsenal, paid off $60,000 in liens and other bills to the Greater Augusta Utility District on Friday. Niemann says he hopes to keep the account current.

The buildings were constructed by the federal government between 1828 and 1838. Niemann bought the property in 2007 in the hopes of transforming it into a mixed-use complex. However, poor economic conditions kept the businessman from finding financing.

Niemann agreed to properly preserve the buildings after the state intervened in 2013.

Students from the Maine School of Masonry are currently doing preservation work on the Arsenal. Its founder is considering moving their School of Restoration and Preservation to the site.

Information from: Kennebec Journal,

Author photo
The AP is one of the largest and most trusted sources of independent newsgathering. AP is neither privately owned nor government-funded; instead, as a not-for-profit news cooperative owned by its American newspaper and broadcast members, it can maintain its single-minded focus on newsgathering and its commitment to the highest standards of objective, accurate journalism.