HomeMy WebLinkAbout1995-06-26 95-298 ORDERCOUNCIL ACTION
Date: 8/26/95 Item No.: 95-298
Item/Subject: Sale of Lot t in the BanAir Industrial Park to Jose W. Diaz
Responsible Department Community and Economic Development
See attached memo
Depafnerd Head .
Manager's Comments: -jk, W a .qua2:erso I u7
e"orsbtk� C W44V
City Manager
Associated Information
Finance Director
Introduced For
X Passage
First Reading Page of
Referral -
95-298
Aeupmd to Counuem Soucy June 26, 1995
CITY OF BANGOR
(TITLE.) ADTe Authorizing the city Manager to execute a Purchase
and Sale Agreement with Tose W. Diaz.
BY Bm a'+v Comeit o/Gla C1N ofBuwor:
ORDER®r
THAT the City Manager is hereby authorized and directed,
n behalf of the city of Bangor, to execute a "contract for Bale of
Real Estate" with Tose W. Diaz for Lot #1 in the BanAir Industrial
Park.
KoemUc MW (sns/.m
IN CITY COUNCIL
.June 2 1995
P
CITY CVRK
95-298
0R D I R
Title, Autlhori irg the City Ms er to
«acute a �e and Bale Ageeamt
w th Jose W. Diaz.
......................................
...................... 4...............
a
�^ Ae®pied to
Comcilmen
95-298
To Members of the City Council
From: Stephen A. Bolduc, Executive Manager
Date: June 26, 1995 -'S TS
Subject: Sale of Lot 1 in the BanAlr Industrial Pada to Jose W. Diaz
Issue
Jose W. Diaz, Diaz Construction, has made an offer to purchase Lot #1 in the BanAir
Industrial Park on Outer Hammond St. for $64,400.
Background
Mr. Diaz is the owner of Diaz Construction, Jay, Maine, and has been in the
construction and development business for approximately twenty-five years. He is
proposing to construct a building on lot #1 as a location for Jay Rent -A -Tool, which he
owns, and other tenants. The equipment rental store is projected to employ 4 - 5
people.
Presently Mr. Diaz proposes to construct a 2,400 sq. ft. building which is below the
desired minimum building size for the lot. However, Mr. Diaz has said that it is his
intention to expand the building to accommodate additional tenants. He is discussing
the project with several passible tenants, and it appears probable that the lot will be
developed beyond our minimum standards. Based upon Mr. Dmfs past record as a
builder and developer and the interest of possible tenants, it appears reasonable to
expect that the lot will be�suficienlly developed.
Lot #1 is 1.53 acres with 272' of frontage on Hammond St. / Route 2. The current price
of Lot #1 is $64,400 or $42,091 per arse. Mr. Dees has made two previous offers.
The City of Bangor is represented by Robert M. Gilbedi, J. F. Singleton Company, who
is due a commission of 5% at closing to be paid by the City.
Recommendation
The Board of Directors of the BanAir Corporation is currently reviewing this offer. Their
recommendation will be presented to the Council when this item is considered on June
26.