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HomeMy WebLinkAbout1995-12-11 96-60 ORDERCOUNCIL ACTION pec.N /E Date Dec -- "g Item No. 96-60 Item/Subject: Transferring Funds to BaAis Corporation From The Airport Department Responsible Department: Airport / Community E Economic Development The Council has been briefed on the proposal by Travel Concepts, Inc. to create additional international air traffic at B.I.A. and bring international visitors to Bangor and the State of Maine. The attached council Order would authorize the transfer of $25,000 from the Airport Department to Barlir Corporation, a local non-profit development corporation, for the purpose of providing a portion of the financing for the Travel Concepts project. The BanAir Board would determine the terms and conditions of such financing. Department Head Manager's Comments: Budget Approval: Ifiwarv�`Lgw�i City _ manager Associated Information: Director Budget Approval: _ Finance Director City Solicitor Introduced For % Passage _ First Reading Page 1 of 2 Referral Ml Magnan to Cousam 31an<hettla 0ecember ll, 1115 :u CITY OF BANGOR (TITLE.) (Pricer, Transferring..Funds to BanA r Corporation From The Airport Department BY tM My CaMMOU of M4 GYN OfRanWr. ORDERED, TEAT WHEREAS, BanAir Corporation, a local civic non- profit development corporation, is engaged in activities which will promote aeronautical and non -aeronautical development at Bangor International Airport; and WHEREAS, Travel Concept, Inca has developed business plan which would create additional international air traffic at Bangor International Airport and bring tourists to the Bangor area and State of Maine; and WHEREAS, if successful this plan would create increased revenues for B.I.A., new lobe and a positive economic impact to the City of Bangor; and WHEREAS, a public private partnership will help provide the opportunity for such a venture to be successful, THEREFORE, BE IT ORDERED THAT the Airport Department be authorized to transfer funds in the amount of twenty-five thousand dollars ($25,000) to Ban it Corporation for the purpose of providing financing to Travel Concepts, Inc. under such terms and conditions determined by BanAir Corporation Board of Directors. IN CITY WUNCIL Passed - 96-60 Couteilod Baldacci Abet§fined: ORDER -CITY CLERK Title, Transferriag Funds to BanAir l Corporation Prom the Airport Department ......... '........ ................... Assigned to ' Councilman