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HomeMy WebLinkAbout2010-11-22 11-024 ORDERCOUNCIL ACTION - Item No. Date: November 22. 2010 Item/Subject ORDER, Authorizing an Extension of the Real Estate Purchase Contract with Bangor Gas Company, LLC for Land and Building at 498 Maine Ave. Responsible Department: Community and Economic Development Commentary: The City(3 of Bangor and Bangor Gas are partes in a Real fartEstate Purchase Contract ne for the sale of three (3) acres of land and a building at 998 Maine Ave. far the construction0square f a new gservice centern Bangor Gas will de velop a new existing building, re m t military era, 4,800 square 4000 single story, masonry building, and develop a new 12,000 square foot buildingabfor its use. About be warehouse SF of the front N the building would be for office / showroom use and about 8,000 at rieswoulda be warehouse space. The area outside the building would be used as a lay down area for materials and parking Bangor Gas has requested Nat the following changes be made to the Contract: 1. The Due Diligence Periotl would be extended from November 29, 2010 N March 31, 2011. 2. The date for the submission of a site plan would be extended from October 20, 2010 t0 January 14, 2011. 3. The data for the submission of plans to the Director of Community and Economic Development for BED Committee review would be extended from November 4, 2010 to January 14, 2011. 4. The tlate of the closing would be thirty (30) days after the expiration of the Due Diligence Period, which would be Apt 30, 2011. Department Head manage trs Comments: C'`m rl ��xujvD Interim Ciry Manager Associated Information: Order Budge[ Approval: Fnance Director X Passage _ First Reading Page _ of _ Referral � Auigned to Councilor _ pvx41v 9oveebei zz, zolo -4e ' CITY OF BANGOR (TITLE.) ORDER, Authorizing an Extension of a Real Estate Purchase Contract with Bangor Gas Company, LLC for Land and Building at 498 Maine Ave. WHEREAS, the City of Bangor and Bangor Gas Company, LLC are parties in a Real Estate Purchase Contract dated July 20, 2010 to sell land and a building at 498 Maine Ave.; and WHEREAS, Bangor Gas Company, LLC has requested an extension of several dates in the Real Estate purchase Contract; and WHEREAS, the Bangor City Council finds that it is in the interests of the City to extend the dates In the Real Estate Purchase Contract BE IT ORDERED BY THE CITY COUNCIL OF THE CITY OF BANGOR THAT The Interim City Manager is hereby, authorized, on behalf of the City of Bangor, to execute an amendment to the Real Estate Purchase Contract with Bangor Gas Company, LLC for the land and a building at 498 Maine Ave. in a form approved by the City Solicitor or Assistant City Solicitor, providing for the following changes: 1. The Due Diligence Period be extended from November 29, 2010 to March 31, 2011. 2. The data for the submission of a site plan be extended from October 20, 2010 to January 14, 2011. 3. The date for the submission of plans to the Director of Community and Economic Development for BED Committee review be extended from November 4, 2010 to January 14, 2011. 4. The date of the closing be within thirty (30) days afterthe expiration of the Due Diligence NOW, which would be April 30, 2011. SH CTTL CO®CIL # 11- 24 Hoveober zz, 2010 _ ODERHot o6 Made and seconded for' Passage P40ed ii i (T1SL8) Aa[fioriaine +n Bstrnaion of a CITI ©'ffi IMI Hatate Purchase Contract Hitb Bangor Gas Company, LLC for Land and Building at 498 Maine Ave i Ae�ed-b CaeveBwAic �/ i!