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HomeMy WebLinkAbout2016-12-12 17-041 ORDERCOUNCIL ACTION Item No. 17-041 Date: December 12, 2016 Item/Subject: Order, Authorizing the Execution of Agreement with Mary Ellen Beal and Kevin Keith for 262 Fern Street (Map 052, Lot 100) Responsible Department: Legal Commentary: This Order will authorize the execution of an agreement with Mary Ellen Beal and Kevin Keith for the conveyance and rehabilitation of property located at 262 Fern Street. A real estate tax lien on property located at 262 Fern Street has matured. The property owner, Mary Ellen Beal, has found a potential purchaser of the property. In order to allow for conveyance of the property, Ms. Beal has requested that the City of Bangor convey title to the property back to her. Additionally, the purchaser, Kevin Keith, is willing to pay all outstanding charges due the City and enter into an agreement with the City to rehab the real estate to bring it into compliance with all appropriate codes. Should the Council agree to work with these parties, staff suggests the following terms and conditions: • Mr. Keith shall pay to the City all outstanding charges due to be held in escrow pending completion of the agreement; • Mr. Keith shall submit to the City all plans for redevelopment including a time table to obtain permits, a time table to do the work, and a construction progress schedule; • Mr. Keith shall provide to the City evidence of financing and a monetary guarantee for completion of the work; • The City will convey the property upon compliance with the terms and conditions of the, agreement and issuance of a Certificate of Occupancy for the property; • Ms. Beal will execute all documents necessary to remove the cloud on the title that exists by virtue of it being tax acquired property if the other terms and conditions of the agreement are not all met. Should the parties fail to comply with all of the terms and conditions of the agreement, the City will retain the property. The Agreement shall be in in a final form as acceptable to the City Solicitor or Assistant City Solicitor. This item was reviewed and approved at the December 5, 2016 Finance Committee Meeting. Manager's Comments: Associated Information: Budget Approval: Legal Approval: Introduced for x Passage First Reading Referral Department Head Page _ of _ City Manager Finance Director City Solicitor 17-041 DECEMBER 12, 2016 GG Assipwd to Councilor CITY OF BANGOR �R4TED4i (TML) MOM h. i`gthe Umtiw a 1 a..:vath Mary DenBeal '.9 Kevin Keith for 262 Fem Street (Map 052, Lot 100) 1 a -1 i I - 4 . U W �M' 1, 11 ":;.N A, m 9 1- ELPTAZO IN CITY COUNCIL DECEMBER 12, 2016 CO 17-041 MOTION MADE AND SECONDED FOR PASSAGE PASSED 'CITY CLE