HomeMy WebLinkAbout1994-07-11 94-320 ORDERItem/Subject:
OPTION AGREEMENT WITH NORTH STAR INTERNATIONAL ENERGY CORPORATION
Responsible Department: Community and Economic Development
- _ - ,IwN�lIF1IP
Associated Information: nusa J,
Budget Approval:
Finance Director
Legal Approvals
M_
city Solicitor VU
Introduced For -
__J_Passsge
_First Reading
_Referral Page 1 of 3
MKoRc :w.ux (7/z/w)
COUNCIL ACTION
Data:
7/11/94
Item
No.
94-320
Item/Subject:
OPTION AGREEMENT WITH NORTH STAR INTERNATIONAL ENERGY CORPORATION
Responsible Department: Community and Economic Development
- _ - ,IwN�lIF1IP
Associated Information: nusa J,
Budget Approval:
Finance Director
Legal Approvals
M_
city Solicitor VU
Introduced For -
__J_Passsge
_First Reading
_Referral Page 1 of 3
MKoRc :w.ux (7/z/w)
94-320
Anoned to Counador Shubert J,Sy 11, 1994
CITY OF BANGOR
(TITLE.) Orbfry Auth2riSiNg.. the City.. Manges to Execute, an ....
Option Agreement with North Star International Energy
Corporation.
By spy City Coaaei{ of Nw Cit ofBaym:
ORDERED,
THAT the City Manager is hereby authorized and
directed, on behalf of the City of Bangor, to execute an option
agreement with North Star International Energy Corporation for a
portion of lot 18 in the Maine Business Enterprise Park.
IN CITY COUNCIL 94-330
July 11. 1994 D R D E R
Passed
Title, Authorizing the City Manager to Execute
i( an Option Agreement with North Star International
CI C E@% '� Energy Corporation.
......................................
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�0D Auipieg ed/Ato
Councilman
�MM� 94-320
LM11WL�,l� "CORPORATION
BANGOR AIRPORT CIVIC DEVELOPMENT CORPORATION
c/o Economic Drvelcpmeen Detainment
Benpm any WII
Banmm Maine W01
Memorandum
Tot Numbers of the City Council
Prase Stephen A. Bolduc, Executive Manager
Date, July 11, 1994 U Q
Subject: Option Agreement with North Star International Energy
Corporation
Issue
North Star International Energy Corporation would like an option to
lease a portion of cot 18 of the Maine Business Enterprise Park to
relocate their retail gasoline station.
Background
North Star International Energy Corporation has leased the gasoline
service station facility at 75 Maine Avenue from the City of Bangor
alone 1981. Their lease expired on March 31, 1991, and store that
time they have continued to operate the facility an a
month-to-month basis. As owner of the facility, the City of Bangor
is required by state law to remove the underground gasoline storage
tanks located on the property. Because of the tank removal and the
development of the Maine Business Enterprise Park, the Council
decidetl to make Lot 1S of the Baine Business Enterprise Park
available to North Star International Energy Corporation for a n
privately owned gasoline station facility.
Coition Tereus and Conditions
Premises; Primarily that portion Of Lot 18 of the Maine
Business Enterprise Park lying easterly of the
existing railroad tracks in its current unimproved
state.
Fees One Thousand Seven Bundred Forty Dollars ($1,740.00). If the
option is exercised the fee will be applied against lease
payments.
Permax 120 days.
Page 2 of 3
OPERATOR OF BANGOR FOREIGN TRADE ZONE NO. SB
TaIephaM: (2W)947J842. TELEX: BANAIR 950007
94-330
Conditions:
North Star International Energy Corporation must obtain or provide
the following:
A. All federal, state And city approvals necessary, including
site plan approval from the Planning Board.
B. Evidence of the availability of financing to complete the
project.
C. An acceptable preliminary design of the service station and
convenience store.
Terms:
If North Star International Energy Corporation exercises the
option, they are entitled to lease the premises for a tern of
twenty (20) years.
RECQflMmDA=
Staff reconmoends approval of the option agreement under the terms
and conditions outlined above.
Page 3 of 3
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