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HomeMy WebLinkAbout2019-10-16 19-403 Order 10/16/201919-403 10/16/2019 19-403 Finance Order 054-192 Title, Order Authorizing the City Manager to Execute a Disposition and Development Agreement with J&R Contracting Group Inc. for property located at 69 Fruit Street This Order would authorize the City Manager to execute a disposition and development agreement with J&R Contracting for the sale of city owned property located 69 Fruit Street. The property was acquired by the City through matured tax and utility liens in July, 2019 (CO 18-293). The city issued an RFP for redevelopment of the property. The agreement will include the following terms and conditions: the purchase price of the property shall be $1,100; the buyer shall invest not less than $35,000 on the rehabilitation of the property for a single single family home; the buyer shall obtain a building permit on or before December 1, 2019; the buyer shall complete the project and obtain a certificate of occupancy within one year of obtaining a building permit; and the property shall remain taxable in perpetuity. The agreement shall be in a final form as approved by the City Solicitors Office. Finance Committee 10/07/2019 Recommend for passage 50 Staff recommends approval. Consent 10/16/201919-403 CITY OF BANGOR ORDER 10/16/2019 19-403 Schaefer Authorizing the City Manager to Execute a Disposition and Development Agreement with J&R Contracting Group Inc. for property located at 69 Fruit Street WHEREAS, the City owns the property located at 69 Fruit Street ( Map and Lot 054-192), due to matured tax liens; and WHEREAS, the City wishes to dispose of properties and have them rehabilitated for housing; and WHEREAS, the City requested bid proposals; and WHEREAS, J&R Contracting Group Inc, the only bidder, wishes to purchase the property and has submitted an offer of $1,100 for the house and land: BE IT ORDERED BY THE CITY COUNCIL OF THE CITY OF BANGOR, THAT The City Manager is hereby authorized, on behalf of the City of Bangor, to execute those documents necessary for the transfer and development agreement of the single family houses located at 69 Fruit Street (Map and Lot 054-192) to J&R Contracting Group Inc. The agreement will include the following terms and conditions: the purchase price of the property shall be $1,100; the buyer shall invest not less than $35,000 on the rehabilitation of the property for a single single family home; the buyer shall obtain a building permit on or before December 1, 2019; the buyer shall complete the project and obtain a certificate of occupancy within one year of obtaining a building permit; and the property shall remain taxable in perpetuity. The agreement shall be in a final form as approved by the City Solicitors Office. IN CITY COUNCIL OCTOBER 16,2019 CO 19-403 MOTION MADE AND SECONDED FOR PASSAGE PASSED CITVftERW