HomeMy WebLinkAbout1997-06-23 97-295 ORDERCOUNCIL ACTION
Date: 6-23-96 Item No. 97-295
Item/Subject: Order, Extending Tentative Developer and Option
Agreement for Pirchaee of a Portion of the Former
Freese's Building - Northern Conservatory of Maio
Responsible Department: Legal
This item is self-explanatory
DER MENT IIE
Manager's Comments:
CITY MANAGER
Associated Information
FINANCE DIRECTOR
Legal Approval:
fly, „
CITY SOLICIT
Introduced For
Passage
First
_ ira[ Reading Page / of�_
Referral
9]-295
Aeepad to Nnoc oo Aube June 23, 1997
? CITY OF BANGOR
(Tltlf.) VllCDCC . Extending, Tentati a D.e..v-eloper and„Oppion
...--..
_....
Agreement for Purchase of a Portion Of the Former Freese's
Conservatory .-Of Mumu .........
By Ow Coy Cm%rU of City ofRanow:
ORDERED,
THAT
wNBRFAS, the City of Bangor and the Northern Conservatory of
Music are parties to a "Tentative Developer and Option Agreement
for Purchase of a Portion of the Former Freeze's Building,” dated
December 11,'1996; and
WHEREAS, the parties' "Mutual Option to Proceed" as set out in
Part I, paragraph 7 of the agreement is scheduled to expire on
June 30,.1997; and ,
wMBBBAS, the Northern Conservatory of Music has recently
completed its obligation under Part I, paragraph 3of the
agreement to provide a business plan and other plana and studies
to the City in connection with the Conservatory's proposed
development; and
wBBMBAS, the period needed to examine and evaluate the
Conservatory's plans and studies will extend beyond June 30,
1997;
NOW, TIIDMSFOMF, that the "Mutual Option to Proceed" net out in
Part I, paragraph 7 of the parties' "Tentative Developer and
Option Agreement for purchase of a portion of the Former Freese's
Building" is hereby extended through July 31, 1997.
IN CITY COUNCIL
June 23, 1997
Passed
Ep
9]-295
O R DEA
Title, Extending Tentative Developer and Option
Agreement for Purchase of a Portion of CFe Former
Pre sBuilding - Northern Conservatory of Music
Councilman