HomeMy WebLinkAbout1993-03-03 Community and Economic Development Committee MinutesCOMMUNITY 6 ECONOMIC DEVELOPMENT COMMITTEE
Wednesday, March 3, 1993
MINUTES
MEMBERS
PRESENT: Chairman Sullivan
Councilor Shubert
OTHERS
PRESENT: Erik Stumpfel, City Solicitor
Rodney McKay, Community Development Director
T.J. Mamtrial, C.D. Housing Resources Coordinator
AGENDA PPEM %li - Community Development Property Rehabilitation Loan
47-49 Essex Street
The Committee approved a loan in the amount of $155,340 for the
complete rehabilitation of this five unit vacant property which was
gutted by fire in July of 1992. The total project cost for
acquisition and rehabilitation is estimated at $199,060 with the
owner providing $43,720 of the cost. The Community Development loan
will be secured by a first mortgage. The property will have an after
rehabilitation value estimated at $194,450.
AGENDA ITEM Sib - Community Development Property Rehabilitation Loan
209 Ohio Street
The Committee approved a loan in the amount of $50,000 for the
complete rehabilitation of this three unit vacant property. The
total project cost is estimated at $103,756 with the owner providing
$53,756. The loan will be secured by a first mortgage. The property
will have an after rehabilitation value estimated at $97,500.
AGENDA ITEM R2 - Appointing Harbor Master and Assistant Harbor Master
for the period May 1, 1993 to April 30, 1994
On the recommendation of the Harbor Committee, the Committee
voted to recommend to the City Council that Benjamin C. Glidden be
reappointed Harbor Master and Bradford L. Collins be reappointed
Deputy Harbor Master for the period May 1, 1993 to April 30, 1994.
Bradford Collins serves as Brewer's Harbor Meter and Mr. Glidden as
Brewer's Deputy Harbor Master enabling each to enforce laws and
.ordinances on either side of the Harbor.
AGENDA ITEM e3 - Modification to Option Agreements for Purchase of
Urban Renewal Parcels B-113 and B -11C
The attorney for the developer, Bangor Real Estate, has requested
modifications to the Option Agreement approved by the City Council
on January 11, 1993. City Solicitor Stumpfel explained that the
requested changes primarily involve a second, separate option for
Parcel B -11C. The Option for Parcel B -11B contained a provision
which gave the developer the right of first refusal to acquire Parcel.
B -11C if the developer built a second phase of the proposed project
within 10 years. City Solicitor Stumpfel. advised the Committee that
he was satisfied that the developer's request for a separate option
for Parcel B -11C would give the developer essentially the same right
as provided for in the Option for Parcel B -11B approved by the City
Council. Council Shubert moved and the Committee voted to approve
the changes requested.
The meeting adjourned at 5:35 PM
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