HomeMy WebLinkAbout2021-01-25 21-079 Order
01/25/202121-079
01/25/2021
21-079
Finance
Order
023-017
Title, Order
Authorizing the Sale and Development of 486 Hammond Street.
This Order would authorize the sale of 486 Hammond Street to General Interest, LLC for $5,100.
Council Order 20-342 authorized the city to take possession of property located at 486 Hammond
Street for matured tax liens. In November, a request for proposals was issued to rehabilitate the
property. The city received one proposal for the property.
A compromise on the proposed scope of the rehabilitation could not be achieved by the bidder and
the city. The recommendation was to retain ownership of the property. In December, Steve Farren,
of General Interest, LLC., requested to purchase the property for $5,100, demo the property, and
spend a minimum of $125,000 to build a single-family home on the property. If approved, General
Interest, LLC. agrees to obtain permits by December 1, 2021 and complete the construction within
one year. Additionally, General Interest, LLC., agrees to a reverter in the deed should they fail to
complete the work and agrees to pay taxes or make payment in lieu of taxes. Steve Farren, of
General Interest, LLC., has the experience necessary to complete the rehabilitation of the property.
Mr. Farren intends to sell the property on the housing market after the construction is completed.
This order addresses the Council goal of improving quality and quantity of housing to meet demand
for workforce housing, life cycle housing, and supportive housing within the community.
Finance Committee
01/20/2021
Recommend for passage
50
New Business
01/25/202121-079
CITY OF BANGOR ORDER
01/25/2021
21-079
Okafor
Authorizing the Sale and Development of 486 Hammond Street.
WHEREAS, the City owns the vacant property located at 486 Hammond Street; and
WHEREAS, the City is seeking to sell the property and have it developed; and
WHEREAS, the City issued a request for proposals for the purchase and development of the property and
chose to retain the property; and
WHEREAS, Steve Farren, of General Interest, LLC., requested to purchase, demolish, and construct a single
family home on the property; and
WHEREAS, General Interest has offered $5,100 for the property and invest a minimum of $125,000 for
construction,
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 of the single family house located at 486 Hammond Street (Map and Lot 023-017)
to General Interest, LLC., for the development of said property by the same under the following conditions:
1. The developer shall purchase the property for $5,100.
2. The developer shall demolish the existing building.
3. The developer shall spend a minimum of $125,000 on the construction of the single family home as per
submitted design.
4. The developer shall obtain a building permit on or before December 1, 2021, and that development be
completed within one year of obtaining permits.
5. That a reverter favoring the City and for the purpose of enforcing the development conditions be contained
in any deed to General Interest, LLC., and
6. That taxes or a payment in lieu of taxes (PILOT) always be paid upon the property.
The final documentation will be in a form approved by the City Solicitor's Office.
IN CITY COUNCIL
JANUARY 25,2021
CO 21-079
Motion made and seconded for Passage of Consent Agenda
Vote: 8—0
Councilors Voting Yes: Davitt,Dubay,Fournier,Hawes,Nichols, Schaefer, Sprague,Tremble
Councilors Voting No: None
Passed
CITY ERK