Loading...
HomeMy WebLinkAbout1988-03-14 88-155 ORDER88-155 Introduced by Councilor Shubert. March 14, 1988 :.r CITY OF BANGOR (TITLE.) Mrbgrl _antro 1 ing Fotrth am deaat to Option AHreemeat - ... .... _. ............. __. ......... By I" OUR Coue eu of W Cal' Of Bangor. - ORDERED, THAT WHEREAS, rho City Of Bangor and tho'Houlton Band Of Maliseet Indiana have executed an Option Agreement for the purchase of a portion of urban Renewal Parcel B-1, "Phase I', as amended; and WHEREAS, the CITY and the DEVELOPER have executed an Option Agreement for the Purchase of a Portion of Urban Renewal Parcel B-11 "Phase I" dated April 1, 1987; and WHEREAS, Section A, Subsection 1, paragraph 1 Of Said Option Agreement requires DEVELOPER to construct a four (4) story residential building with at least 35,000 square feet of total floor area; and WHEREAS, Section B, Subsection 1, paragraph 2 also requires DEVELOPER to construct a four (4) story residential building and further requires DEVELOPER to develop the Phase I parcel with a minimum floor area ratio of .9 (60,000 SF); and WHEREAS, DEVELOPER'S final plans for the aforementioned residential building contained three stories and 29,000 Square Feet; and WHEREAS, DEVELOPER'S plans for development of the entire Phase I parcel indicate a floor area ratio of lees than .9; and WHEREAS, the CITY finds DEVELOPER'S final plans for the residential building and the development of the entire Phase I parcel acceptable; and NOW, THEREFORE BY THE CITY COUNCIL OF THE CITY OF BANGOR BE IT ORDERED THAT the City Manager is hereby authorized and directed, on behalf of the City of Bangor, to execute Fourth Amendment to Option Agreement for Purchase of Portion of Urban Renewal Parcel B-11 "Phase I". 88-155 ORDER Title, Authorizing fourth PnenNmt to Lxitwn Agxemeat M isest Indians In City Council . .......... I ........................... M ch 15,1988' pane troduced' filed u i Vote 7 Yw l No �• • " "• �/ w inq Come n elancliette,England,Fra l, Sa l,Shu lsnllivan Tilley w ing No Sawyer kLtl� Ciq Clerk U p b .� ppµ10 µ4y` ftECC 5 j%GDR Q CIlY CIERR 88-155 FOURTH AMENDMENT TO OPTION AGREEMENT FOR PURCHASE OF ,. PORTION OF URBAN RENEWAL PARCEL B-11 "PHASE I" THIS AMENDMENT to the Option Agreement of April 1, 1987 is Made this _ day of March, 1988, by and between the CITY OF BANGOR, a municipal corporation located in the county of Penobscot, State of Maine (hetinafter "CITY"), and the HOULTON. BAND OF MALISEET INDIANS, the MALISEET TRIBE OF INDIANS as constituted n March 4, 1789 and all predecessors and successors in interest, being represented by the Houlton Band Council of Maliseet Indiana, having its place of business in Houlton, County Of Aroostook, State of Maine (hereinafter "DEVELOPER"). WITNESSETH: WHEREAS, the CITY and the DEVELOPER have e%eCuted an Option Agreement .for the Purchase of a Portion of Urban Renewal Parcel B-11 "Phase Y" dated April 1, 1987; and WHEREAS, Section A, Subsection 1, paragraph 1 of said Option Agreement requires DEVELOPER to construct a four (4) story residential building with at least 15,000 square feet of total floor area; and WHEREAS, Section E, Subsection 1, paragraph 2 also requires DEVELOPER to construct a four (4) story residential building and further requires DEVELOPER to develop the Phase I parcel with a minimum floor area ratio of .9 (60,000 SE); and 2 WHEREAS, DEVELOPER'S final plans for the aforementioned residential building contained three stories and 29,000 Square Foot; and WHEREAS, DEVELOPER'S plans for development of the entire Phase I parcel indicate a floor area ratio of less than .9; and WHEREAS, the CITY finds DEVELOPER'S final plans for the residential building and the development of the entire Phase I parcel acceptable; and WHEREAS, by passage of Council Order 88- on March 14, 1988 _the City Council approved the provisions of this amendment to the Option Agreement; NOW, THEREFORE, In accordance with Council Order 88 - Section A, Subsection 1, paragraph 1 and Section 8, Subsection 1, paragraph 2 of the Option Agreement are hereby amended as follows, by adding the terms that are underlined, and deleting the terms that are struck out: SECTION A. GRANT OF OPTION 1. Grant Of Option. The CITY grants and the DEVELOPER accepts an exclusive option to purchase Said Premises for development of a two (2) story commercial building containing at least 25,000 square feet of retail and/or office space, a I r -M three (3) story residential building containing 30 units of congregate housing and support facilities with at least 3 r&e@ 29,000 square feet of total floor area, and a parking area, lot, or structure containing at least 110 parking spaces at a total estimated cost of at least $3.8 million in accordance with the terms and conditions of this option Agreement. The purchase price for Said Premises shall be Sixty Thousand Dollars ($60,000), to be paid by the DEVELOPER to the CITY in cash or by certified or bank check at the time of closing on the sale of Said Premises, less any amounts .paid by DEVELOPER t0 CITY pursuant to this Option Agreement. 3 SECTION B. CONDITIONS PRECEDENT TO SALE OF SAID PREMISES ...Any development and use Of Said Premises shall comply with the following development standards: a. Minimum Lot Coverage: 338 b. Minimum Building Height: Commercial bolding - 2 stories above Exchange Street grade, residential building - 4 3 stories above grade. C. Maximum Development Permitted: Floor Area Ratio of 1.6. d. Minimum Development Permitted: Floor Area Ratio of .4 _8 (60,000 SF). e. Off -Street Parking: Developer shall provide such off- street parking as the Committee may deem necessary for the proposed development: Provide, however, that in no event shall such parking be less than 110 spaces. All terms used in this paragraph shall be defined in accordance with the provisions of the Zoning Ordinance of the City of Bangor and any applicable amendments thereto or replacements thereof. IN WITNESS WHEREOF, the parties hereto have set their hands and seals this day of March 1908. CITY OF BANGOR BY EDWARD A. BARRETT CITY MANAGER HOULTON BAND OF MALISEET INDIANS BY CLAIR A. SABATTIS TRIBAL CHAIRMAN FI STATE OF MAINS, Penobscot, as. , 1988 Then personally appeared the above-named Edward A. Barrett in his capacity as City Manager of the City of Bangor, and acknowledged the foregoing instrument to be his free act and deed and the free act and deed of the City of Bangor. Printed Name: Before me, Justice of. the Peace Notary Public Attorney at Law Then personally appeared the above-named Clair A. Sabattis in his capacity as Tribal Chairman of the Boulton Band of Maliseet Indians, and acknowledged the foregoing instrument to be his free - act and deed and the free act and deed of the Boulton Band of Maliseet Indians. Before me, Printed Name: Attorney at Law