HomeMy WebLinkAbout1976-12-13 56 AE ORDERAE
Introduced by CuuncU*r Gass, December 13, 1976
CITY OF BANGOR
(TITLE) Authorizing_ Expenditure OY_Seventy-five. Thousand Dollars
($75,000.00) - City's Share of Hogan Road Improvements
._._...._ ._....... ,____.._ .__.. _. 11 .................
By CHy Ca lafMs a*ofBanwr:
ORDERED,
THAT WHEREAS, a proposal for the development of a shopping
center on property located in the northwest quadrant of the
Hogan Road Interchange of Interstate I-95 will require extensive
improvements to said Rogan Road Interchange and the Hogan Road
approaches, and
WHEREAS, the. City has previously requested that the State
Department of Transportation undertake said improvements under
the Federal Urban System program, whereby the funding of said
improvements would be 70% Federal funds and 306 local funds, end
WHEREAS, the estimated coat of said improvements is Five
Hundred Thousand Dollars ($5001000.00), with the local share
being One Hundred Fifty Thousand Dollars ($150,000.00), with
one-half of the local share required to be paid prior to the
initiation of the project by the State Department of Transpor-
tation,
HOW THEREFORE, be it
ORDERED, that the City Finance Director be and hereby is
authorized to expend from the State Aid Construction Account
paid to the State Department of Transportation as representing
one-half of the local share, said payment to be made on the con-
dition that an acceptable agreement will first be obtained from the
shopping center developer which will provide a bond to guarantee
payment of the remainag one -hely of the local share, or Seventy -
(five Thousand Dollars $75,000.00), prior to the award of a con-
struction contract, or in the event of abandonment of the project
by said shopping center development, will guarantee reimbursement
to the City of.. all expenditures which may have been made out of
the initial commitment to the State of Maine Department of Trans-
IWCxTY COUNCIL 56 Ae 30D
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