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HomeMy WebLinkAbout2014-08-11 14-267 ORDERCOUNCIL ACTION Item No. 14-267 Date: August 11, 2014 Item/Subject ORDER, Authorizing Execution of an Amendment to the Contract with Bangor Center Management Corporation/Downtown Bangor Partnership Responsible Department: Community & Economic Development Commentary: This Order authorizes the City Manager to execute an Amendment to the Contract with the Bangor Center Management Corporation/Downtown Bangor Partnership for the purpose of providing management services and administration of the Development Program for the Bangor Center Development District for the period July 1, 2014 - June 30, 2015. The proposed amended budget is.$103,000, an increase of $2,000 over the original budget passed on May 28, 2014. The amendment is due to additional tax revenue resulting from the increased valuation of downtown businesses, which forms part of the revenue used to implement the Development Program. In order to account for this increase, the compensation paid to the Corporation must therefore be adjusted. The Corporation did not request general fund support for the upcoming fiscal year. Tanya Emery Department Head Manager's Comments: City Manager Associated Information: Budget Approval: IkOipe -c�� Fina ce Director Legal Approval: City icitor Introduced for X Passage First Reading Referral Page _of_ Assigned to Councilor Blanchette CITY OF BANGOR 14-267 AUGUST 11, 2014 (TITLE.) . ORDER, Authorizing Execution of an Amendment to the Contract with Bangor Center Management Corporation/Downtown Bangor Partnership BE IT ORDERED BY THE CITY COUNCIL OF THE CITY OF BANGOR THAT the City Manager is hereby authorized and directed, on behalf of the City of Bangor, to execute an Amendment to the Contract, a copy of which is on file in the Office of the City Clerk, with the Bangor Center Management Corporation/Downtown Bangor Partnership for purposes of providing management services and administration of the development program for the Bangor Center Development District for the period July 1, 2014 - June 30, 2015. The purpose of the amendment is to account for an increase in revenue to the District. Said Amendment shall be in final form as approved by the City Solicitor or Assistant City Solicitor. IN CITY COUNCIL AUGUST 11, 2014 MOTION MADE AND SECONDED FOR PASSAGE PASSED CITY CLERK