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
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C/(
CLERK