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HomeMy WebLinkAbout1992-06-22 92-324 ORDERWas WJune^1] 1992 Item No.92 _3 4 Order Amending Option Agreement for Bangor Item/Subject: Watetwo rka Associates Responsible Department: Community A Economic Development Commentary: We have been contacted by Robert Baldacci, Jr. of Bangor waterworks Associates (see attached letter) regarding the option extension that was forwarded to the Associates. Ae you will recall, the C&ED Committee recommended and the Council approved the extension of the Option from June 300 1992 t0 June 30 1993. During the discussions among the staff, the Committee, the Council and Bangor Waterworks Associates, the issue of waiving option fees was not specifically discussed. The current Option calls for option fees to be paid for any approved extension. Bangor Waterworks Associates has requested that additional option fees not be charged unless the Option is extended beyond June 30, 1993. Staff met with Bangor Waterworks Associates and will be prepared to make a recommendation to the CBRD Committee which will be considering this option fee Wednesday nigIts� �pnapannevxm�a("— Maimger'a Com�^,me,^�ntneCQls1� /.rt CALdi• ai Q.s,S tOs.K,f ytA X11 rxdtv��a�iY4 tan, Cr Eb (eon,mjit, MU3. 'q WLj' ' o-��Pl� - Ciry Manvge, Avanieted In/ormatbn:© Budget Approval: Finance nimaor Legal APpcoval: — lu &;5irel u w wyaenv¢ Wil v/'/�,/�./l� 13a,'ar wsiewaelal Ass- , - � x s( A0 n�s4i e�' Ci r So/rcao, I N City le &Y be /n+{i+ P Allow gw m,nsl iE 442-5 ro} eb/ lwl j-30.9/. AtcesS e"5 Introduced For Hnllr 06/alrAW on 119'98. Azxo lM5F1, ( Lasts( hewn~[ 19w0- 777 f wafw- (Wit- owle A44 rl a I`Ns J�First R yy mp �Firtt Reading o Hon S. 1 6d no{ .+- jM} eop}Ian YDS page ur �IReterral sMuU walevo( v��Prr yFn a.mratPis/ O/1)M A5A 92-324 (Amended) Moped[a CourcUor Saeyer,-June 22, 1992 CITY OF BANGOR (TIRE,) i®rbtr, Authorizing Wayier,or Fees - option. Aare®eat fo .,: ... Purchase of Bangor Waterworks Facilities BY tM dry Coxxad 0(0w CNs of Barger:. ORDERED, THAT WHEREAS, the City Council of the City of Bangor by - Passage of Council Order 90-346 on October 10, 1990, superceded'by Passage of Council Order 91-108 on February 25, 19910 authorized an Option Agreement with Bangor Waterworks Associates (BWA) for purchase and redevelopmentofthe Bangor Waterworks Facility which required an option fee of Five Thousand Dollars (55,000) for the Period ending. June 30, 1992 and Five Hundred Dollars ($500) for each month of any extension granted by the City; and WHEREAS, the Option Agreement entered into and dated Watch 6, 1991 included an obligation by the City to apply to the Raine Department of Transportation (NDOT) for a public railroad crossing to provide public access to the site and contained a provision that allowed BWA to cancel the Option in the event the City was unable to obtain such approval by September 30, 1991; and WHEREAS, . the City was unable to obtain MOT approval for a public railroad crossing until February 19, 1992; and WHEREAS, due to the delays incurred in securing NEOP approval for a public railroad crossing, permits fxom the various agencies involved, and construction financing of the project, all of which are required before pre -marketing of the project can begin, EWA requested .amendments to the march 6, 1991 Option which included an extension of thq texm of the option.to Tune 30, 1993, and WHEREAS; subsequent to approval of the requested amendments by passage of Council Order 92210 on April 13, 1992, BWA has requested that option foes in addition to the original 45r000 not be charged unless the tars of the Optionisextended beyond June 30, 1993; NOW, THEREFORE, BE IT ORDERED by the City Council of the City of Bangor, that the City Nanager in hereby authorized and directed to waive the fees required In Section A, Paragraph 5 of the Option Agreement for Purchase of Bangor Waterworks Facilities by and between the City of Bangor and BWA dated March 6,"1991 for the period July 1. 1992 to'Juna 30 1993. 92 324 Aeei6ned to CwmNw Sawyer, .lune 22, 1992 CITY OF BANGOR (TITLE.) �CDBYr Amending Option Agreement for Bangor Waterworks Associates BY the City Cmmeii Of City OfBavpor. ORDERED. TEAT' An Order will be substituted at the City Council Meeting based on a. recommendation by the Community and Economic Development Committee. 92-324 ORDER In City Council June 22 1992 Title, Amended by 3ubstitnticn and Amending Opaon Aveement for Bangor Passed Neter ks Associates ...•••••.........••••...... Amended Cepy Attached •. ••••••••. Mi.' .............. ................... Aee� to cowciiman c�-3zy