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