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HomeMy WebLinkAbout2014-12-08 15-034 ORDERCOUNCIL ACTION Item No. 15-034 Date: December 8, 2014 Item/Subject: ORDER, Authorizing the Sale of Old Fire Station #6 to Penobscot Theatre Company (Map R33 -Lot 18) Responsible Department: Community & Economic Development Commentary: This Order would authorize the sale of Old Fire Station #6, located on the corner of Griffin Road and Kenduskeag Ave., to the Penobscot Theatre Company (PTC) for $225,000. The PTC would use the property to build its stages, store costumes and props, and for internship or other temporary housing for actors and others affiliated with current productions. The PTC would pay a 50% PILOT that would increase to 100% over a 5 year period. Their $10,000 deposit would be refunded and sale will not go through if sufficient financing cannot be secured, if there are significant issues with the property inspection or the appraisal. Proceeds from the sale of this building will be used to replenish the Fire Equipment Replacement Fund. The Business & Economic Development Committee reviewed and recommended this item for approval at its December 2, 2014 meeting. Manager's Comments: Associated Information: Budget Approval: Legal Approval: Introduced for X Passage First Reading Referral Tanya Emery Department Head Page _of_ City Manager Finance Director City tolicitor 15-034 DECEMBER 8, 2014 Assigned to Councilor Baldacci CITY OF BANGOR (TITLE.) ORDER, Authorizing the Sale of Old Fire Station #6 to Penobscot Theatre Company (Map R33 -Lot 18) WHEREAS, the City of Bangor owns the former Fire Station #6 located on the corner of Griffin Road and Kenduskeag Ave.; and WHEREAS, the Penobscot Theatre Company has offered to purchase the property for $225,000; and WHEREAS, the Penobscot Theatre Company will pay a 50% Pilot that increases to 100% over a 5 year period: BE IT ORDERED BY THE CITY COUNCIL OF THE CITY OF BANGOR THAT The City Manager is hereby authorized, on behalf of the City of Bangor, to execute a Contract For Sale of Real Estate and any other related documents with Penobscot Theatre Company for Old Fire Station #6 in a form approved by the City Solicitor or Assistant City Solicitor. The City Manager is further authorized to deposit the proceeds into the Fire Department Equipment Replacement Fund. IN CITY COUNCIL DECEMBER 8, 2014 MOTION MADE AND "SECONDED FOR PASSAGE PASAED . 9 CITY CLERK