HomeMy WebLinkAbout2013-07-08 13-241 ORDERCOUNCIL ACTION
Item No. 13-241
Date: July 8, 2013
Item/Subject: ORDER, Authorizing Execution of Documents with Cabrel Company for Sale of
Land at 396 Griffin Road
Responsible Department: Community and Economic Development
Commentary:
The City owns real property located at 396 Griffin Road. Cabrel Company is the owner of a
building at this location and leases the land from the City. Cabrel Company wishes to purchase
the land on which their building is located, pursuant to the City -owned property disposition
policy which allows for the purchase of leased land given the satisfaction of certain terms and
conditions.
This Order, if approved, will authorize the execution of documents necessary to terminate the
lease between the City of Bangor and Cabrel Company dated January 1, 1979 and convey the
property to Cabrel Company on or before December 31, 2013.
This matter was discussed by the Business and Economic Development Committee at its July 1,
2013 meeting.
Manager's Comments:
Associated Information:
Budget Approval:
Legal Approval:
Intro uced for
Passage
First Reading
Referral
Department Head
f City Manager
Page _ of _
Solicitor
13-241
JULY 8, 2013
Assigned to Councilor Baldacci
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CITY OF BANGOR
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4JED.F •N
(TITLE.) ORDER, Authorizing Execution of Documents with Cabrel Company for Sale of Land
at 396 Griffin Road
WHEREAS, the City is the owner of real property located at 396 Griffin Road; and
WHEREAS, Cabrel Company is the owner of a building at this location and leases the land from
the City; and
WHEREAS, Cabrel Company wishes to purchase the land on which their building is located; and
WHEREAS, the City -owned property disposition policy allows for the purchase of leased land
given the satisfaction of certain terms and conditions; and
WHEREAS, it is in the best interest of the City of Bangor to terminate the existing land lease
and enter into an Agreement with Cabrel Company for the purchase and sale of the land at 396
Griffin Road
By the City Council of the City of Bangor.
ORDERED,
THAT Catherine M. Conlow, City Manager, is hereby authorized on behalf of the City of Bangor
to execute all documents necessary to terminate the lease between the City of Bangor and
Cabrel Company dated January 1, 1979 and convey the property to Cabrel Company on or
before December 31, 2013 consisting of approximately 6.9 acres (Tax Map 100, Lot 7) for a
purchase price of $346,000.00; contingent on documentation of additional investment in the
City of Bangor creating a net taxable value of not less than $1,628,498.70 to satisfy the
conditions of the City's policy for sale of City -owned leased land, and upon such other terms
and conditions as reasonable and appropriate and consistent with the City of Bangor's policy for
sale of City -owned leased land. Said documents shall be in final form as approved by the City
Solicitor or Assistant City Solicitor.
IN CITY COUNCIL
July 8, 2013
Motion
made and seconded for Passage
CITY CLERK