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HomeMy WebLinkAbout2012-06-11 12-196 ORDER COUNCIL ACTION Item No. 12-19 Date: June 11,2012 Item/Subject: Order, Authorizing Execution of Agreement with Peter Brown and Jennifer Brown-110 Pearl Street Responsible Department: Legal Commentary: On May 14, 2012, by Council Order 12-171, the City Council directed the City Manager to take possession for property located at 110 Pearl Street, Bangor, Maine for matured real estate property tax liens. The City of Bangor is the holder of certain mortgages on the property in the amount of$122,806.18. The City has assessed the property at a value of$125,000. It is in the best interest of the Ciry to acquire property outright rather than as tax-acquired in order to maximize the price the City can receive for the sale of the property. This order, if approved, will authorize the City Manager to execute an agreement with Peter and Jennifer Brown that will provide that Peter and Jennifer Brown execute a deed to the property to the City of Bangor, the City of Bangor discharge the outstanding mortgages, Peter and Jennifer Brown vacate the property no later than July 1, 2012, and City staff inspect the property. Department Head Manager's Comments: �_S�CJ�_� ((�. �s�,p� City Manager Associated Information; Budget Approval: F ance Director Legal Approval: Ci Solicitor Introduced for Passage First Reading Page_of_ Referral 12-196 JUNE 11,2012 �`���� Assigned ta Councilor Longo i��p'YC � - os i�`; ' 9 r ��,u ,�`1 7' •�.< ,o,, .= T� GIT'Y OF' BAI�ICOR , i�a: 9As�,.�� �� 1ti� .�,�RA�'FE/ ��� (TITLE.) ORDER, Authorizing Execution of Agreement with Peter Brown and ]ennifer Brown -1i0 Reari Street WHEREAS, an May 14, 2012, by Gauncil Order 12-171, tF►e City Gouncit directed the City Manager to take possession for pro�erty located at 110 Pearl Street, Bangar, Maine for matured rea) estate property tax liens; and 1MHEREAS, the C�ty �f Bangar is the holder of eertain mortgages on the property, and WHEREAS, it is in the best interest of the City to acquire property outright rather than as tax- acquired, so-ca[led, to maximize the pric� the City can receive for the sale of the property. By the eity Cauncll of the City of Bartgor. �Rp�R�Q� THAT the City Manager, an bef�alf of the City af Bangar, is hereby authorized to execute an agreement with Reter and ]ennifer Brawn regarding the praperty [ocated at 110 Rearl Street, Bangor, Maine. Said agreement shall include, among other terms and canditions, a provision that Peter and 7ennifer Brown shall execute a de�cl ta th� property to the City af Bangor, the City of Bangar shal[ diseharge the outstanding mortgages, Peter and Jennifer Brown shall vacate the property no later tt�an July 1, �Q12, and staff of the City of Bangor shalf inspeet the property. Said agreement shall be in a final farm as approved by the City Salicitor or Assistant City Solieitar. f � (TITLE,) Assigned to Councilor �Z �I� � p, ss ZZOZ `Ti aunp �z�xno� asz� xi