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