HomeMy WebLinkAbout1994-08-22 94-372 ORDER94-372
COUNCIL ACTION
Item No.
Date Auaust 22, 1994
Item/Subject: Authorizing Negotiating Deadline extension
-- Bangor Raceway Lease Agreement
Responsible Department: Legal
Fred Nichols, Raceway Manager for Bangor Historic Track, Inc.
(Bangor Raceway) has sent the City the required notice of an intent
to renew the current Agreement. He has indicated, however, that in
order to have a better idea of the Raceway's financial picture
before executing a renewal Agreement, Bangor Raceway may not be in
a position to meet the September 17th negotiating deadline as
required by the current Agreement. The attached Council Order
would authorize an extension of the negotiating deadline for
Thicution of a Renewal Agreement until midnight, October 15th.
s should allow ample time to complete the renewal negotiations.
Associated Information: Order
Finance Director
�fv
City solicitor
ii
Introduced For '
A
pass ge
First Reading
Referral Page 1 of 2
/
Department
L
Head
Manager's
Coxmients:
'
Associated Information: Order
Finance Director
�fv
City solicitor
ii
Introduced For '
A
pass ge
First Reading
Referral Page 1 of 2
94-372
Assigned to CouneEor Blanchette August 22, 1994
CITY OF BANGOR
(TITLE.) NWf MY312L3 Authorizing Negotiating Deadline sxte cion
____ Bangor.RacewayLease Agreement
BY tha IXeu CouaeR of the Ciq of $OII(gf:
ORDERED,
THAT
WHEREAS, the terms of the current Bangor Raceway Lease Agreement
require that a Renewal Agreement be executed
cuted within 45 days of
receipt of written notice of an intent to renew said Agreement to
avoid termination of said Agreement; and
WHEREAS,. said notice has been received and additional time beyond
the September 17th negotiating deadline imposed by the current
Agreement is necessary to complete negotiations,
NOW, THEREFORE, the Bangor City Council hereby authorizes an
extension of the Renewal Agreement execution deadline to midnight,
October 15, 1994 in order to avoid automatic termination of the.
rating Agreement before thattime.
94-372
IN. CITY COUNCIL
O R D E R
August 22, 1994 -
Passed
Title, Authorizing Negotiating Deadline
Extension - Bangor Raceway Agreement.
CITY CL
......................................
u.
Auigned to
P..........
CounciLoen