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HomeMy WebLinkAbout1981-08-24 81-250 ORDERIntroduced by Councilor Baldacci. August m, 1901 CITY OF BANGOR QITEEJ (DriYBrt..._Avehorizing the.,, Purchase of 40Cumberland. Street, Bangor, By uu Gtr Cba ofdw Cies Of Bang". ORDERED, THAT WHEREAS, the City of Bangor granted a Rehabilitation Loan to theowners of property located at 40 Cumberland Street; and WHEREAS, said loan is secured by a second mortgage on the property; and WHEREAS, the owners of said property have filed a Chapter 13 Petition in the Bankruptcy Court; NOW THEREFORE BE IT ORDERED BY ME CITY COUNCIL OF THE CITY OF BANGOR THAT the Director of Planning and Community Development is hereby authorized to protect the City's interest insaid property, including butnotlimdted:to' acquisition of title to the same for an amount not to exceed the fair market value of said .property less the outstanding balance due the City of Bangor under the aforementioned loan. NOW.THEREFORE BE IT FURTHER ORDERED BY THE CITY COUNCIL OF THE CITY OF,WGOR MAT,the Director of Planning and Community Develop- ment is hereby^authorizedsslconyract for an appraisal of the property, if necessary. IN City Council August 24,1981 Passed q Uity Clerk 81-250 ORDER Title, Auturlvtang the Purcbase of 40 ..................... I .... ............ Cwberlard Street Bangor Maine ...................................... Introduced and filed by Councilman '81 AOG2O P314 RECr CITY OF t;N CITY CLERK