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HomeMy WebLinkAbout1987-06-30 87-244 ORDERA7-244 Introduced by Councilor Frankel Jude,30, 1987 CITY OF BANGOR (TITLE.) (Orber Extending Option Agreement Poulton Bora of Maliseet ........._e° _ .... Inaaen Development Cm'gotation - Urbmn Renewal Parcel B-11 "Phase I" By Bm CHy Caswell QFW MY FfBmnoor: ORDERED, THAT WHEREAS, the City of Bangor entered into an Option Agree- ment for Purchase of Portion of Urban Renewal Parcel B-11 "Phase P' with the Houlton Band of MaliBeet Indians Development Corporation (hereinafter "Developer") dated April 1, 1987; and WHEREAS, Section A. 2. contains a provision that the Option Agreement may be extended upon approval by the City Council of the City of Bangor for an additional three month period commenc- ing on ,July 1, 1987 and ending on September 30, 1987 provided that the Developer has provided the City Council satisfactory evidence of a preliminary commitment for the financing of the proposed develop- ment by a private lending institution and the D. S. Bureau of Indian Affairs; and WHEREAS, Section A. 2. further provides that the Option Agreement may be further extended upon approval of the Bangor City Council for a third period of six months commencing on October 1, 1907 and ending on March 30, 1988 provided that the Developer shall have obtained a legally binding commitment for the financing of their proposed project by a private lender and the U. S. Bureau of Indian Affairs; and WHEREAS, the Developer has provided the City Council with satisfactory evidence of a preliminary commitment for the financing of their proposed project by a private lender and the U. S. Bureau of Indian Affairs; NOW, THEREFORE, BY THE CITY COUNCIL OF THE CITY OF BANGOR BE IT ORDERED THAT, the City Manager Is hereby authorized and direc- ted to execute an Amendment to the Option Agreement for Purchase of Portion of Urban Renewal Parcel B-11 -Phase I- by and between the City of Bangor and the Houlton Band Of Maliseet Indians Development Corportion dated April 1, 1987, providing for an extension of the option Agreement commencing on July 1, 1907 and ending on September 30, 1984, upon the payment of the option fees required in said Agreement. 87-244 0 R 0 E R IN CITY COUNCIL June 30, 1987 Should the point of order be Title, - substained passed by the following yes and no votes. Councilors voting Extending Option Agreement - Houlton yes: Sawyer, Shubert, Sullivanvan and and Tilley. Councilors voting no: EO%. Councilor Rene.➢evelrpmevt ..... Corporation abstaining: Councilors - Urban Corporation - Urban Renewal Parcel 6 -ll "Phase I". nandWoilley. absent. Brown and Le uestion=. Vote to move the failed to Introduced and filed by wing yes vase by the following yes no yandes votes. Councilors Voting yea: and Sbubet. Councilors voting .(/.C:?°'?�!F.r. (C/.:. .LIR,/.YLunci..... no:Sawyer Co Cil, Frankel, Sullivan and Tilley. CoweSlmen Councilor abstaining; y. Br wn and Councilors absent: Brown and Lebowitz. Order Passed. - t nn // C/( CLERK