HomeMy WebLinkAbout1997-07-28 97-342 RESOLVECOUNCIL ACTION
Item No. 9I-342
Date duly 28. 1997
Item/Subject: Granting Northern Conservatory of Music Consent to
Proceed with Redevelopment of Portion of Former
Freese's Building into the Maine School for the
Arts/Maine High School for the Arts
Responsible Department: Community 5 Economic Development
Pursuant to recent discussions and presentations by the Northern
Conservatory of Music, the attached Resolve would constitute the
City of Bangor's consent Under the "Mutual Option t0 Proceed" a
set out in Part 1, paragraph 7 of the Tentative Developer Agreement
dated December 11, 1996.
,, bar i ce
Manager's Comment
Associated Information
Finance Director
City Solicitor ru
For
Passage
First Reading
Referral Page _ of
97-362
Assigned to Councilor Soucy duly 28. 1997
CITY OF BANGOR
(TITLE.) P001Ufy...
Granting Northern Conservatory of Music Consent
.........._.._...... .......... .... ..... ... _.............
to Proceed with Redevelopment of Portion of
Former Freese's Building into the Maine School
for the Arts/Maine High School for the Arts
By tM City C&OWN olthe City WBanyor.
BBEOLVBD,
WHEREAS, the City of Bangor and Northern Conservatory of Music
e parties to a "Tentative Developer and Option
Agreement for Purchase of a Portion of the Former
Freese's Building" dated December 11, 1996, as amended
by Council Order 97-295 passed dune 23, 1997; and
WHEREAS,. the Northern Conservatory of Music has submitted a
fundraising plan, business plan, list of barriers and
contingencies and engineering analysis, as required by
Part I, paragraph 3 of the parties' agreement; and
WHEREAS, the City of Bangor's review of the plans submitted by
Northern Conservatory of Music discloses that
redevelopment of the former Freese's Building into the
Maine School for the Arts/Maine High School for the Arts
is technically feasible and economically viable, subject
only to necessary capital fundraising as outlined in
said plans; and
WHEREAS, redevelopment of the former Freese's Building into the
Maine School for the Arts/Maine High School for the Arts
would be of great benefit to the City of Bangor in its
ongoing downtown revitalization efforts;
NOW, THEREFORE, by the City Council of the City of Bangor, be it
RESOLVED, THAT
(1) Pursuant to Part I, paragraph 7 of the parties'
agreement, dated December 11, 1996, the City of Bangor hereby gives
its consent to the Northern Conservatory of Music to proceed with
its planned redevelopment of the former Freese's Building, in
9)-342
accordance with Part II of the parties' agreement. This consent
shall be deemed effective upon the City Solicitor's receipt of
satisfactory evidence of Northern Conservatory of Music's pledge of
$100,000 or assets of equal value as start up capital for the
project's capital campaign, and creation of an escrow account, as
provided in Part I, paragraph 5 of the parties' agreement.
(2) The City Manager is authorized and directed to
develop a partnership agreement with the Northern Conservatory of
Music, as provided in Part I, paragraph 4(d) of the parties'
agreement, for consideration by the City Council at its next
regular Council meeting.
IN CITY COUNCIL
July 39, 1997
Darryl Rhodes, Northern Conservatory
of Music, thanked the Council for
their support and displayed design
sketches of the new school
passed
9J-342
EES0LYE
Gravtiv¢ Narthery Cov rvatoty of Music
Consent to Proceed with Redevelopment
of Portion of Former Freese's Building
into the Maine School for the Arts/
Maine High School for
rtt'hee Arts