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HomeMy WebLinkAbout1969-06-23 192-W ORDER192-W Introduced by Councilor Cm' June 23, 1969 .CITY O...F BANGOR (TITLE.) pprbQry.Purchase of Lanh Act Housing Project (Fairmount Terrace) race) _____ ........ .. _..__ By the City Courwdl o/the City ofBanpor: THAT the City Manager be and is hereby authorized to enter into a contract for the purchase of the former Lanham Act Housing Project, Bangor, Maine, D -Maine -526C, for public park/recreational purposes. The purchase price to be $55,500.00 and payable as follows: a down payment of 20% of the purchase price on closing and the balance payable in equal quarterly installments over a period not to exceed 10 years. Interest on the unpaid balance will beat the rate of 5-3/4% per annum, payable quarterly. 192-W .... _IVF® 1959 JON 19 Iw 4. CN :ITY CLEWS OFFICE 0 R 0 E R ns= Title IN CITY COUNCIL purchase Of FairMaunt Terrace .lune 23, 1969 ...................................... Passed by the f011wing Yes and no vote: Callen, CO voting yes:5 falCouncilors Cal:, D'Rrting no: Minsky,-BarPorter. COuncilOxs voting n 1 - ton, Introduced and flied by Councilors Abeam 3-XOustonr 11cFaYr Nealley, GENERAL SERVICES ADMINISTRATION O Region t Bwlm, Mmachwou 02109 June 18, 1969 19 JUN1969 09 01 Nr. Merle F. Goff City Manager City of Bangor Bangor, Maine 04401 Dear Mr. Goff: He are pleased to inform you that the City's offer to purchase the farmer LeN:em Act Noosing Project, Dow Air Force Base, Bangor, Maine, D-Medne-52W, for public perk/recreational purposes is hereby accepted. Pursuant to the terms of the City's offer, the purchase price of $55,500 will be payable as follows: A dome payment of 20% of the purchase price on closing and the balance payable in equal quarterly installments over a period not to second 10 years. Interest an the unpaid balances will be at the rate of 5-3/4Z per ane , payable quarterly. There is ennloeed for your records a copy of the Department of the interior's report on the City's application. The existing license to the City, Covering care and custody of the promisee, will reme in in effect until the conveyance has been consummated. We have referred the matter to Our Regional Coeoeel who will prepare and forward far your review a copy of the conveyanse instrument. Sincerely, c7i In L. F. BUM Chief, Real Property Division Property Management & Disposal Service Enclosure Kxp Fummo, in rwn Fume Wes U.S. Sanngr Bwo,