HomeMy WebLinkAbout1996-03-25 96-164 ORDERDate: March 25 1996 Item No. 96-164
Item/Subject: Amending Tentative Developer and Option Agreement for Purchase of
Portion of the Forma Freese's Budding -Northem Conservatory of
Music
Responsible Department: Community and Econondc Development
Commentary:
The Tentative Developer and Option Agreement required certain submissions to
the City by the Northern Conservatory of Music no later than March 31, 1996. These required
submittals include a fund raising plan; a business plan; identification of all barriers hindering or
interfering with development of the premises; and an engineering structural analysis, condition of
roof survey, plans and estimates for immediate roof repair, and preparation of preliminary cost
estimates for returning the major structural elements to useable condition.
Daryl Rhodes, representing the Northern Conservatory of Music, has relayed to
the City Council, at its workshop on February 28, 1996, that the Conservatory was relying on the
eceipt of proceeds derived by the City kr sale of portion of me former Freese's Building to
Joe Cloutia/kealty Resources Chartered/Freese Building Associates to undertake the
engineering analysis, roof survey, and preparation of cost estimates for repairs. It was originally
anticipated that the sale to Realty Resources would take place before January 1, 1996. If the
Council extends the Realty Resources Option to lune 30, 1996, it is recommended the Northern
Conservatory Tentative Developer status be mended to lune 30, 1996 and the deadline for
required submittals also be extended to lune 30, 1996,
Depdrmem Hodd
Manager's Comments: O ffcbvo
City Manager
Associated Information:
Budget Approval:
Frwnce Director
Legal Approval:
tty Sobci{ r
I duced For
Passage
First Reading Page-Loc3
Referral Fueseskn-Narbi
96-164
Aasietedbfunndlor Sullivan March 25, 1996
CITY OF BANGOR
(TITLFJ 4f rliffa.......... ?an aW'ng Temative Developer seat ,Option Agreement for Purchase of a
Portion of the Former Fescue's Building Northern Conservatory of Music
By to aty CauroH of W CBY Of Bangor.
ORDERED.
THAT WHEREAS, the City of Bangor and Northern Conservatory of Music executed a
Tentative Developer and Option Agreement for Purchase of a Portion of the Former Freese's
Building on January 8, 1996 that granted the Northern Conservawry of Music the option to purchase
and develop apottion of former From's Building; and
WHEREAS, the Tentative Developer steres granted Northern Conservatory of Music
therein expires March 31,1996; and submittals required of the Developer no later than March 31,
1996 have not been completed due to circumstances beyond the Developer's control; and
WHEREAS, there is a need for dates to be extended so that the Option Agreement
is consistent with the current timetable of the Project;
NOW THEREFORE, BE IT ORDERED THAT the City Manager is hereby
a uthorizedmexmumasamendmentmthe T=ta ve Developerand Option Agreementfor Purchase
of a Portion of the Forma Freese's Building by and between the City of Berger and Northern
Conservatory of Music as follows: -
Section 1.1. Grant of Tentative Develner Surma The CITY grams and the
DEVELOPER accepts elusive tentative developer status b the Premises for
development pf the Mame School for the ArtslMaine High School for the Arts for
the period from the date of this Agreement =fit Met&3,,1996 Jane 30 1996.
Section 1.4. Responsibilities of Developer. During the period is which the
DEVELOPERhas been granted tentative developer suatus, as outlined infatuations
I.1.and 13.above, the DEVELOPER shall, no later than'mmitn !,1996 lupe3Q
1996 submit to the CITY the following:
NOTE: Deletions are shuck out, additions are umdeslieed.
IN CITY COUNCIL
March 25' t 6
Passed
CITY GLERV
96-164
o R D E R
Title, Amending Tentative Developer add
-option Agreement for Purchase of a Portion
of the Former Freese's Bvildln& Northern:
Cd6sefdef6f4.6f-mild:........
.....................................
to
C!1W!.!.. .......
Councilman
96 16-
1/8/96
Ed Barrett
City Manager
Bangor,Me.
04401
UEar Mr. Barrett,
As per our tentative developer agreement, section 1-3, this
letter is a request for an extension of at least three months,
to June 30th,1996, to properly prepare those conditions towhich
the Conservatory has agreed.
Firtce ly,
(! )
/aho
secretary -treasurer