HomeMy WebLinkAbout1991-02-25 91-108 ORDERCOUNCIL ACTION
Item No. 91-108
Date February 20, 1991
Item/Subject: Authorising Execution of Revised option Agreement with
Bangor Waterworks Associates - Bangor Waterworks
Facilities
Responsible Department/ Community and Economic Development
The Staff of the Legal Department and Department of Community and
Economic Development have been involved in extensive negotiations with
representatives of Bangor Waterworks Associates in attempting to -
accomodate their requests for revisions to a proposed Option Agreement
for Purchase of Bangor Waterworks Facilities and to, at the same time
adequately protect the City's interests in ensuring that the facility
in properly developed.
It is anticipated that the Comity and economic Development
Committee will review the proposed Option Agreement at its meeting
scheduled for 500 PM, Brainy, February 25th and, depending on the
recommendation of the Committee, the attached proposed Order may be
ready for consideration by the City Council at Its meeting later the
same evening.
Department Need
Manager's Comments:
City Manager
Associated Infoxmation:0
Finance Director
Legal Approval:
City Solicitor
Introduced For
E Passage
_First Reading Page I of 2
Referral
91-108
Amipped b Councilor Su111van, February 25, 1991
CITY OF BANGOR
(TITLE.) @rbgra .Wthorlzing Esacation of Eevised opt on Agreement with _...
Waterworks Associates - Bangor Waterworks Facilities
By ate Guy canned Of GYN NBanyar:
ORDERED,
THAT the City Manager is hereby authorized and directed,
n behalf of the City of Bangor, to execute
cute an Option Agreement, a
copy of which is on file in the Office of the City Clerk, with
Bangor Waterworks Associates for the purchase and redevelopment of
the former Bangor Waterworks Facilities.
Be IT FURTHER ORDERED,
THAT this Order supersedes Order 89-616 'Authorising
Execution of Option Agreement with Bangor Waterworks Asaoclates"
passed October 23, 1989 and Order 90-396 "Authorizing Option
Agreement with Bangor Waterworks Associates - Bangor Waterworks
Facility" passed October 10, 1990.
IN CITY COUNCIL
February 25, 1991
Passed
�,��
CITY 'ERR
91-108
ORDER
Title,
Authorizing Execution of Hevisea Option
Agreement witb Bangor waterworks Associates
He or Waterworks Facilities.
............ 4 ..................
-FeL d G.
Aesyeignedtto�
Councilman