HomeMy WebLinkAbout1997-12-22 98-66 ORDERCOUNCIL ACTION
Item No. 98-66
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Item/Subject: Accepting Release Deed to Tax -Acquired Property
Located at 55 Parker Street (Map 35 Lot ]2-A) from Kenneth
TSOUlda, Trustee of the George L. Tsoulas Trust
Responsible Department: Legal
Commentary:
The property, a vacant lot, located at 55 Parker Street has matured
real estate tax liens. As part of our overall agreement with the
George L. Tsoulas Trust, this Order would authorize the City
Manager to accept a deed releasing any claims of the Trust to the
Property, in favor of the City of Bangor. A release deed from the
Trust would make the property more marketable in the event the City
wishes to transfer title to the property at a future date.
Manager's Comments:
Associated Information: Q
Department Head
Finance Direlre for
V \ M
City Solicitor VU
Introduced For AGENDA
Passage
First Reading
Referral Page _ I of 2
98-66
Aodgad to COUS&HOC Rohman December 22, 1997
CITY OF BANGOR
Accepting Release Deed to Tax Acquired Property
(TITLE.) (®CDer,-.............. ........... .._.._. _...
Located at 55 Parker Street (Map 35 Lot 72-A) from Kenneth
__T_S_o__ll__1_aS TTU__S_tee Of___[he,_,(Z'Bpjg,$„l�, Tapeld -Trugt
. ...... I..... ......... _. _.
By tae City Go ff Oft pry ofBansor;
ORDERED,
THAT the City Manager is hereby authorized and
directed, on behalf of the City of Bangor, to accept a release deed
to tax -acquired property located at 55 Parker Street (Map 35 Lot
72-A) from Kenneth Tsoulas, Trustee of the George L. Tsoulas
Trust. Said release deed shall be in a form approved by the City
Solicitor.
IN CITY COUNCIL
December 22, 1997
Passed
ERR
98-66
ORDER
Title, Accepting Release Deed to Tex -
Acquired Property Located at 55 Parker
Street (Rep 35 Lot 72-A) from Kenneth
1s6ulea;'tiustee oY E6e'deorRe L. Tsonlas
Must
............................... 4......
tea.
Mip,ed to
V Councilman
CORPORATION THE GROMNG
owa„orA ," AWAN'TAGE
Memorandum
To: Members of the City Council
From: Stephen A. Bolduc, Executive Manager
Date: December22, 1997
Subject: Assignment of the CONTRACT FOR PURCHASE AND SALE OF REAL
ESTATE between the City of Bangor and John D. Linnehan, Jr. for Lots 4 and 5 in rite
BanAir Industrial Park to John I. Bridges, Jr.
Issue
John D. Linehan, Jr. has requested that the CONTRACT FOR PURCHASE
AND SALE OF REAL ESTATE for Lots 4 and 5 in the BanAir Industrial Park be
assigned to John 1. Bridges, Jr.
Background
John D. Linehan, Jr. has been advised by his tax attorney/account that tille to
Lots 4 and 5 in the BanAtr Industrial Parc should be taken in the name of John I.
Bridges, Jr.. Mr. Bridges is a minority shareholder in Linehan Leasing, d/b/a Credit
Now Auto Company, a Maine corporation in which John D. Linehan, Jr. is the majority
shareholder. Mr. Unrrehan has given his assurance that the property will still be
developed in accordance with the tens and conditions of the Contract, as well as the
site plan approved by the Planning Board. The CONTRACT FOR PURCHASE AND
SALE OF REAL ESTATE dated July 9, 1996 between the City of Bangor and John D.
Linnehan, requires that the assignment to Mr. Bridges be approved by the City Council.
The Board of Directors of the BanAir Corporation recommends approval of the
assignment of the agreement.
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