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
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(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.
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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.
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Assigned to Councilor
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