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HomeMy WebLinkAbout1974-05-29 188 AB RESOLVE188 AN Introduced by Councilor Breuntas, May 29, 1979 II����[[���ja,,.��.,.�44�� CITY OF BANGOR (TIRU Cy"O VGS AuthorizJ g .Trdgafe; of_kl1_ d f C p tpl _____ 1,�xgvement Fund to the G neral rc d �RD�i�N$WIIOfF W{.1AIXL7ty.�i'P6A�C( WHEREAS, there is a balance of $576,000 in the "Reserve for Construction" account of the Capital Improvement Fund, this balance being the accumulation ofunexpected balances of various nstruction appropriations funded by the issue of bonds and notes in the Sears since 1968 for permanent public improvements; and t WHEREAS, the City,a 1966, has raised, approFriated and expended tax and other general revenues in the amount ao£ $286,181 for the <onstruction of permanent public improvements which would have accrued ued to the -Surplus" account of the General Fund had these improvementsbeen funded with the unex- pended bona and note monies, NOW, THEREFORE, Ey the City Council of the City of Bangor: RESOLVED, that $286,181 be transferred from the 'Reserve for Construction" account of the Capital Improvement Fund to the "Surplus" account of the General Fend. 1 188 IN CITY CON XL May 39' 1974 PASSED. RECEIVED r x e s o i v E 1371 MAI 24 AM 8: 37 CITY CLH!!( Author. Trans. Of FLnLs from Capital I t Pu aato Gen. .ay__�_l CITY CLERK$ OFFICE �J�Y ^9/ Ury nF p•.4r^.A M41xF isVFlJ oaU wl U.S. DEPARTMENT OF xovaxa AND URBAN DEVELOPMENT URBAN RENEWAL PR DRAM PART I OF STANDARD FORM OF CONTRACT FOR SALE OF LAND FOR PRIVATE REDEVELOPMENT -------------------------------- Part I of CONTRACT FOR SALE OF LAND FOR PRIVATE REDEVELOPMENT By and Between HRBAN RENEWAL AUTHORITY OF THE CITY OF BANGOR and FRANSWAY REALTY COMPANY PART I ..CONTENTS Section Page 1. Sale: Purchase Price.. ....... 4 2.. Conveyance of Property . ... . . . .. . . . . . . . 4 3. Good Faith Deposit . . . . . . .. ... . . . . . . .. 6 4. Time for Commencement and Completion Of Improvements . . .. . .. . . . . . . . . . a 5. Time for Certain Other Actions. . . . . . . 8 6. Period of Duration of Covenant on Use .. . . . . . 9 i. Notices and Demands . . . . . . . .. . . . . . . . 10 S. Special Provisions...... ........ 10 9. Modifications of Part .. . . . . . . 10 30. Counterparts ..................... 11 HUO-62Mk (]Jp app Swap 12-71) CONTRACT FOR SALE OF LAND FOR PRIVATE REDEVELOPMENT AGREEMENT, consisting of Rhis Part i and Part H (Form HUD -62098, 9-69) annexed hereto and made a part hereof (which Part i and Part It are together hereinafter called "Agreement"), made on or as of the Sty day of clay , 19Zi, by and between the Urban Renewal Authority oT the Citv oT Bangor a public body corporate (which, together with any successor public body or officer hereafter designated by or pursuant to law, is hereinafter called "Agency'), established pursuant to Pllwnter 168 of the _Irivete and Seecis] taws of the State of Maine, 1957, as attended oglf} Sxxx1€W (hereinafter called "Urban Renewal Act") and having its office at City Rall In the city of Baaeor (hereinafter caned "city"). State of Maine and the Fransway Realty Co., a partnership ,nxevrpmxxtmx>��axwxe xr8�au[ergtssnxxxa�sara:�osakx8mwzu (hereinafter called "Redeveloper') and having an office for the transaction of business at 351 Newbury Street, ,n the City of Boston , County of C, F4nl It , and State of MassaChusett5 WITNESSETH: WHEREAS, in furtherance of the objectives of the Urban Renewal Act, the Agency has undertaken a program for the clearance and reconstruction or rehabil- itationof glum and blighted areae in the City, and in this connection is engaged in carrying out an urban renewal project known as the " KenduskeM Streem Urban Renewal Project" (hereinafter called "Project"( in an area (hereinafter called "Project Area") located in the City; and -1- WHEREAS, as of the date of the Agreement there has been prepared and approved by the Agency an urban renewal plan for the Project. consisting of [Insert description of the plan, as, for example: "the Urban Renewal Plan. dated ffi y 20 19 4, and appy ovved by the City Council of der the City on June 22 19 JSA, by Addialidslail No. 99-R , as amended by Amendment No. I thereof, dated Vily 19 19 65 , and aerroved by such Council on �Ture I 19106. by Rxav- Suvm No. 135_T"] and as emended by the Agency by Resolution dated Auguat 25, 1964, Rea 1 ion No. 139 (which plan, [ as so amended, and j as it may hereafter by [ further ] amended from time to time pursuant to law, and as so constituted from time to time, i., unless otherwise indicated by the context, hereinafter called "Urban Renewal Plan"): and in lieu of a Declaration of Restrictions WHEREAS, 1004piioW the Urban Renewal Plan thea Mrragxxxw'xsa has been recorded among the land records for the place in which the Project Area is situated, namely, in the [iwss SiramaYCiSzazmfAbss`"v*4-s®`45� Penobscot Registry of Deeds in Book 2152_ of at page.30, e& , aRaAa[xr�Y.ksa�i4iM>�NR�t%�a2AaR�Hi3:az+��finemea$4iek£n+A%k1t4�a�uf!€Xi&zx tYmsX%Et#�xafMhe[x4bmx%:Iaz::Sbuire�MilmiMmtlssX3HzciumF.xix xxxRixiyyx] and WHEREAS, in order to ecould the Agency to achieve the objectives of the Urban Renewal Plan and particularly to make the land m the Project Area available for redevelopment by private enterprise for redevelopment for and in accordance wtth the uses specified in the Urban denevzl Plan, both the Federal Government and the City have undertaken to provide and have oruvided substantial _2_ Hap 549A aid and assistance to the Agency through a Contract for [ Loan and] Capital Leant dated December 23 1964 . in the case of Hie Federal Government and [a Cooperation Agreement. dated .July 14 194,] in the case of the City; and WHEREAS, the Agency has offered to sell and the Redeveloper is willing to purchase certain real property located in the Project Area anit. more particularly described in Schedule A annexed hereto and made a Part hereof (which property as so described is hereinafter called ^Property") and to redevelop the Property for and in accordance with the uses specified in die Urban Renewal Plan and in accordance with the Agreement: and WHEREAS, the Agency believes that the redevelopment of the Property pursuant to the Agreement, and the fulfillment generally of the Agreement, are in the vital and beat interests of the City and the health, safety, morale, and welfare of its residents, and in accord with the public purposes and provisions of the applicable Federal, State, and local laws and requirements under which the Project has been undertaken and is being assisted: NOW. THEREFORE, in consideration of the premises and the mutual obliga- tions of the parties hereto, each of them does hereby covenant and agree with the other as follows: SEC. 1. SALE: PURCHASE PRICE. Subject to all the terms, covenants, and conditions of the Agreement, the Agency will sell the Property to the Redeveloper for, and the Redeveloper will purchase the Property from the Agency and pay therefor, the amount of Forty-two Thousand and 00/100 Dollars ($ 42,000,00------------ ) hereinafter called "Purchase Price", to be paid in cash or by certified check .simultaneously with the delivery of the deed conveying the Property to the Re- developer. bV)11� SEC. 2. CONVEYANCE OF PROPERTY. (a) Form of Deed. The Agency shall convey to the Redeveloper trite to the Property by warranty deed [deeds] (hereinaefter(collectively] called "Deed"). Such conveyance and title shall, to addition to the condition subsequent provided for to Section 7D4 hereof, and to all other conditions. covenants, and restrictions set forth or referred to elsewhere in the Agreement, be subject to: (1) [Here set forth in full detail all easements with respect to the Property which are to be continued or are to be newly created or reserved] (2). (3). etc. [Here set forth other reservations. encumbrances, or exceptions, if any. There should be included in this Section the customary standard printed exceptions found in a title policy, as well as the other exceptions noted in a title policy with respect to the particular property.] (b) Time and Place for Delivery of Deed. The Agency shall deliver the Deed .nnd possession of the Property to the Redeveloper on August 31. 1974 , or on such earlier date as the parties hereto may mutually agree to writing. Conveyance shall be made at the principal office of the Agency and the Redeveloper shall accept such conveyance and pay the Purchase Price to the Agency at such time and place. (c) Apportionment of Current Taxes. The portion of the current taxes, if any, on the Property which are a lien on the date of delivery of the Deed to the Redeveloper allocable to buildings and other improvements which have been demolished or removed from the Property Sy the Agency shall be borne by the Agency, and the portion of such current taxes allocable to the land shall be apportioned between the Agency and the Redeveloper as of the date of the delivery of the Deed. If the amount of the current taxes on the Property is not ascertain. able on such date, the apportionment between the Agency and the Redeveloper shall be on the beets of the amount of the most recently ascertainable taxes on 4 ea -„"°A the Property, but such apportionment shall be subject to final adjustment within (30)days after the date the actual amount of such current taxes is ascertained. (b) Recordation of Deed. The Redeveloper shall promptly file the Deed for recordation among the land records of the place in which the Property is situated. The Redeveloper shall pay all costs (including the cost of the State documentary stamp tax, D any, on the Deed, for which stamps in the proper amount shall be affixed to the Deed by the Redeveloper) for so recording the Deed. (e) etc. [There should also be included in this Section any other obligations of the Ageny and the Redeveloper respectively. in regard to the formalities and mechanics of conveyance and related obligations,as may be agreed the basisof local custom or otherwise. Foxexample, provision may be 0 necessary or desirable to indicate which party s to provide or bear the cost ut title insurance or other title evidence; what the amount of the title nolicy coverage is to be; what the nature of the title evidende shall be and rwho ie to provide it title insurance companies or title attorneys); which party ie to pay she State transfer tax, if any, provided that, if the Agency is exempt from such transfer tax, the Redeveloper shall be obligated to pay it,as well as other miscellaneous coats, etc.] SEG. 3. GOOD FAITH DEPOSIT. (a) Amount. The Redeveloper has, prior to or simultaneously with the execution of the Agreement by the Agency, delivered to the Agency a good faith deposit of cash or a certified check satisfactory to the Agency in the amount of We Thousand One Hundred and o0/100 -------------------Dollars ($J inn nn ----7 ). hereinafter called Mepooic. as security for the performance of the obligations of the Redeveloper to be performed prior to the return of the Deposit to the Redeveloper, or its retention by the Agency as liquidated damages, or its application on account of the Purchase Price, as the case may be, in accordance with the Agreement. [or, in lieu of cash or certified check, substitute and describe in full either: (i) "negotiable bonds or other similar obligations of the United States of America in the total principal amount of - 5 - follows;"; or Dollars ($ ), as (it) • a surety bond in the penal amodnt of Dollars ($ 1. in form and substance satisfactory to the Agency, in which the Agency is the obligee, issued by a surety company regularly engaged in the issuance of such undertakings and on the list of surety companies approved by the United States Treasury for at least such amount, ^ The Deposit, tl cash or certified check, shall be deposited in an account of the Agency in a bank or trust company selected by it. (b) Interest. The Agency shall be under no obligation to pay or earn interest'on the Deposit, but if interest is payable thereon such interest when received by the Agency shall be promptly paid to the Redeveloper. (c) Application to Purchase Price. In the event the Redeveloper is other- wise entitled to return of the Deposit pursuant to paragraph (e)of this Section, upon written request of the Redeveloper the amount of the Deposit if paid in cash or by certified check shall be applied on account of the Purchase Price at the time payment of the Purchase Price is made. (d) Retention by Agency. Upon termination of the Agreement as provided In Sections 703 and 704 hereof, the Deposit or the proceeds of the Deposit, if not theretofore returned to the Redeveloper pursuant to paragraph (e) of this Section, including all Interest payable on such Deposit or the proceeds thereof after after such termination, shall be retained by the Agency as provided in Sections 703 and 704 hereof. (e) Return to Redeveloper. Upon termination of the Agreement as provided in Section 702 hereof, the Deposit shall be returned to the Redeveloper by the - 6 - HUD -i o Agency as provided in Section 702 hereof. If the Agreement shall not have been theretofore terminated and if no cause for termination then exists, the Agency shall return the Deposit to the Redeveloper upon receipt by the Agency of the following: (I) A copy of the commitment or commitments obtained by the Redeveloper for the mortgage loan or loans to assist in financing the construction of the Improvements (as defined in Section 301 hereof), certified by the Redeveloper to be a true and correct copy or copies thereof, NU Evidence satisfactory to the Agency that the Interim mortgage loan to assist in financing the construction of the Improvements has been initially closed; (iii) A copy of the contract between the Redeveloper and the general contrac- tor for the construction of the Improvements, certified by the Redevel- oper t0 be a true and correct copy thereof; and (iv) A copy of the contract bond provided by the general contractor in con- nection with the aforesaid construction contract which bond shall be in a penal sum equal to not lees than ten percent (10%) of the contract price under said construction contract, certified by the Redeveloper to be a true and correct copy thereof. SEC. 4. TIME FOR COMMENCEMENT AND COMPLETION OF IMPROVE- MENTS. The construction of the Improvements referred to in Section 301 hereof shall be commenced in any event within fOur ( 4 months after the date of the Dead, and, except as otherwise provided in the Agreement, shall be completed within r.5mitern (19 months after such date. Provided, That if a mortgage securing money loaned to finance the Improvements, or any part thereof, is insured by the Secretary of Housing and Urban Development, then the aforesaid completion time shall not apply, but instead the construction of the Improvements, - 7 - xuo-nota rn-m or any part thereof, shall be completed within the time specified in the applicable Building Loan Agreement approved by the Secretary of Housing and Urban Develop- ment. SEC. S. TIME FOR CERTAIN OTHER ACTIONS. (a) Time for Submission of Construction Plane. The time within which the Redeveloper shall submit its "Construction Plans" (as defined in Section 301 hereof) to the Agency in any event. pursuant to Section 301 hereof, shall be not tater than On nng Bred EivhYv(18pdays from the date of the Agreement. (b) Time for Submission of Corrected Construction Plana. Except as pro- vided in Paragraph (c) of this Section 5, the time within which the Redeveloper shall submit any new or corrected Construction Plana as provided for in Section 301 hereof shall be not later than Sixty (60) days after the date the Rede- veloper receives written notice from the Agency of the Agency's rejection of the Construction Plane referred to in the latest such notice. (c) N;aximum Time for Approved Construction Plane. In any event. the time within which the Redeveloper shall submit Construction Plane .which conform to the requirements of Section 301 hereof and are approved by the Agency shall be not later than c j xtir (60 ) days after the date the Redeveloper receives written notice from the Agency of the Agency's first rejection of the original Con- struction Plena submitted to it by the Redeveloper. (d) Time for Agency Action on Change in Construction Plana. The time F'ithin which the Agency may reject any change in the Construction Plane, as provided in Section 302 hereof, shall be Thirty 00 ) days after the date of the Agency' receipt of notice of such change. (e) Time for Submission of Evidence of Equity Capital and Mortgage Financing. The time within which the Redeveloper shall submit to the Agency, in any event, -a- HOD-U nggr, evidence as to equity capital and any commitment necessary for mortgage Neanc- Ing, as provided to Section 333 hereof, shall be not later than v (90) days after the date of written notice to the Redeveloper of approval of the Construc- tion Plane by the Agency, or, if the Construction Plane shall be deemed to have been approved as provided in Section Sal hereof, after the expiration of thirty (30) days following the date of receipt by the Agency of the Construction Plans so deemed approved. SEC. 6. PERIOD OF DURATION OF COVENANT ON USE. The covenant pertaining to the use of the Property, set forth in Section 401 hereof. shall remain in effect from the date of the Deed until June 22 , 1909, the period specified or referred to in the Urban Renewal Plan, or until such date thereafter to which it may be extended by proper amendment of the Urban Renewal Plan, on which date, as the cage may be, such covenant shall terminate. SEC. 7. NOTICES AND DEMANDS. A notice, demand, or other communmalion under the Agreement by either arty to the other shall be sufficiently given or delivered if it is dispatched by registered or certified mail, postage prepaid, return receipt requested, or delivered peraenany, and (I) In the case of the Redeveloper, is addressed to or delivered personally to the Redeveloper at 351 NewburV Street _ Boston Massachusetts and (ii) in the case of the Agency, is addressed to or delivered personally to the Agency at City Hall 73 Harlow Street. BarAor, Wine or at such other other address with respect to either such party as that party may, - 9 - aaa-,o,a from time to time, designate in writing and forward to the other as provided in this Section. - - SEC. S. SPECIAL PROVISIONS. See rider attached. Add other secial provisions, on if any, to cover various situations which are t (ready castled in Part Iof Part LL] SEC. 9.. MODIFICATIONS OF PART U. The following amendments and modifications are hereby made in the terms, covenants, and conditions forming Part 11 hereof: See Page 10A ssaehed Insert after subsection 401(b) the following subsection: (c) All advertising (including signs) for sale and/ox rental of the w a or any part of the Property shall include the legend "An Gpen Ounancy Building" in type or lettering of easily legible Bice and deli I The word "Project" or "Development" may be substituted fort vard "Building" where circumstances require such substitutia . SEC. 10. COUNTERPARTS. The Agreement is executed in three (3) counterparts, ach of which shall constitute one and the same instrument. IN WITNESS WHEREOF, the Agency has taus the Agreement to be duly executed in its name and behalf by its and its Beal to be hereunto duly affixed and tested by its d the Redeveloper a caused the Agreement to be duly and sealed Six ep Epstein, partner executedAn its name and behalf by fdmYzmtlkraxnxp'am¢exw,pxkto be 10 . lalete Section 401(b) and insert thereat the following: (b) Not disrimiaata upon the basis of race, color, religion, sex, or national origin in the sale, le, or rental or ir. the ase use or ocouPmouy of the Property or any improvements erected or to be erected thereon, or any part thereof. Of (e) A�¢ ernle oring enY(Partuof�theiPas) for sale and/or Property shall include the legend, ,An open occupancy enilding" in tYPs r lettering of easily ligl'ole size and design. The work "Project" o_- Naveloprant" may be substituted for the wrk "Suild1w Wrere circumstances regvirs such substitution. (d) CMP1Y with the re6u=stionforth in 3v F R 522 32-3yOf y and all , and urban PevelopmaM se applicable rules and order issued thereunder which Prohibitstreet 6une the use of 1,ad-based Paint inretion d Pa1nt hagarde. tiereDaDilitatton and going federally assisted require the e11m1natlon of lead-base SEo. 10. Gou.n gPAAT5• I Agreement is executed in three (3) eovnterparts, each °` whioh, shall constitute one and the same instrument. caused the Agreement to De duly IN VIMSS W:GAi+OF, the Agency has executed in its mama and bsbalf by its Executive Director and its sell to be Lereuato duly arfixecnd attes ated by its Secretary he caused theo Agreement tbe duly and thB Aedevelopar executed and sealed in its name and beltalF by Sidney EP t 1 Par 'tver to be -' xu o'0io matrxdety-eattixmtwtac «xxaxwigetnxtesexx�sy, on or as of the day first above written. �(u� H ✓LnsJM 1 gyW�A Attest n s ijw) By '/.oma , A.,,, 11_ RIDER Section B - SPECIAL PROVISIONS: (1) Redeveloper shall give the Authority thirty (30) days notice of its intention to take title to the premises if it elects to do -so prior to August 31, 1974. (2) The Authority grants to the Redeveloper the right to enter the subject premises for the purpose of surveying and taking such test borings as it deems necessary. (3) The Authority shall provide the Redeveloper with releases from any other persons who have been designated as redevelopers of the subject premises, or any portion thereof in form satisfactory to meet the approval of the attorneys for the Redeveloper. (4) The Authority within thirty (30) days from the date of this Agreement shall deliver to the attorneys for the Redeveloper abstracts of title covering all of the property to be purchased brought down to date showing good and merchantable title to the said premises in the Authority, free and clear of all liens and encumbrances, satisfactory to meet the approval of the attorneys for the Redeveloper. In the event the titleis not satisfactory to meet such approval, the Authority will take such action as may be necessary to clear the title within a reasonable time, not to exceed o a hundred twenty (120) days from the date of receipt of notification that the title is not acceptable. (5) Despite any provision of the Agreement to the contrary, the Auth- ority agrees that it will make the following amendments in the Declaration of Restrictions recorded in Penobscot County Registry of Deeds in Volume 2152, Page 367, and will secure the approval of the Bangor City Council, the Department of Housing and Urban Development and any and all other governmental or private agencies which may be required: (1) iii (B) (1) (b) General Business Parcels It is the intent of this Plan that parcels GB -1, GB -2, GB -3 and GB -4, asshown on the Land Use Plan (Map 2, Exhibit B), shall conform with the following land use controls and building requirements: Permitted Uses: Parcels GB -1, GB -2, GB -3, Gn-4 shall be used for wholesaling, �casing, or storage of goods and products; automotive sales, service, and repair establishments; retail businesses, customer service, or restaurants; banks; business, professional or Governmental offices; public halls or theaters. (2) III (B) (1) (b) (5) Set Back and Yard Requirements On parcels GB -1, GB -2, GB -3 and GB -4 aaimam of 20 feet from any property line or right-of-way line, except for the southern property line of GB -4, and generally easterly property line of GB -3, where no setback is required. (3) 111 (B) (1) (g) P & 0 Parcels It is the intent of this Declaration that parcels P & 0-1, P& 0-2, P& 0-3, P& 0-4, P& 0-5, P& 0-6, P& 0-7, P& 0-8, P& 0-9, and P & 0-10, as shown on the Land Use Map (Map 2, Exhibit B), shall be dedicated to the City for public open space, except that on parcel P & 0-10, the City may lease this parcel to the Developer of parcel GB -3 until the parcel is required by the City for public open space. (6) The obligation of the Redeveloper to purchase the above des- cribed premises as subject to the negotiation of a satisfactory lease to the Redeveloper from the City of Bangor and/or the Agency of parcel P & 0-10 until such time as the City shall require said parcel P & 0-10 for open space. -2-