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HomeMy WebLinkAbout2017-03-13 17-106 ORDERCOUNCIL ACTION Item No. 17-106 Date: March 13, 2017 Item/Subject: ORDER, Authorizing Option Agreement for Development of Bangor Dutton Street with TIMKA, INC. dba Geaghan's Pub - Map/Lot (043-040) Responsible Department: Community and Economic Development Commentary: This Order will authorize the execution of an Option and Development Agreement with TIMKA, INC. for the development of parking on a .78 -acre parcel of land on Dutton Street. TIMKA, INC. operates Geaghan's Pub at 570 Main Street and has the need for additional parking for its restaurant business because of changes to an abutting parking lot. In order to create additional parking TIMKA, INC. would like to acquire approximately 0.78 acres square feet of City land adjacent to and behind its property known as the Roundhouse lot. If approved, the city would sell approximately 0.78 acres (Tax Map 43, Lot 40) to TIMKA for $90,000 to construct additional parking. Prior to transfer of the lot, TIMKA, INC. would be required to obtain plan approval by City staff and the Planning Board, provide evidence needed for construction financing satisfactory to the City Solicitor, secure all necessary permits, agree to a construction progress schedule, and all other such terms and conditions as reasonable and appropriate. This item was reviewed and approved at the March 7, 2017 meeting of the Business & Economic Development Committee. Manager's Comments: Associated Information: Budget Approval: Legal Approval: Introduced for Passage First Reading Referral Department Head Page _of_ ✓lit (S-� City Manager Finance Director City Sblicitor Assigned to Councilor Nealley CITY OF BANGOR 17-106 MARCH 13, 2017 (TITLE.) ORDER, Authorizing Option Agreement for Development of Bangor Dutton Street with TIMKA, INC. dba Geaghan's Pub (Tax Map 43, Lot 40) WHEREAS, TIMKA, INC. operates Geaghan's Pub at 570 Main Street, and has need for additional parking for its business due to a change in their ability to use an abutting parking lot; and WHEREAS, to enable the creation of additional parking TIMKA, INC. would like to acquire approximately 0.78 acres of City land adjacent to and behind its property; and WHEREAS, TIMKA INC. would use the land to create additional parking spaces to provide for adequate parking for its business as well as any future expansion; and WHEREAS, On August 22, 2016, by Council 16-326 the City Council of the City of Bangor authorized execution of a Development Agreement with TIMKA, INC. for the acquisition of this parcel for the creation of additional parking spaces and building expansion; and WHEREAS,, Upon completion of its due diligence TIMKA, INC has determined that it is in its best interest not to proceed with the building expansion as contemplated in its previous request at this time but that additional parking is still needed for the operation of its business. BE IT ORDERED BY THE CITY COUNCIL OF THE CITY OF BANGOR THAT the City Manager is hereby authorized to execute, on behalf of the City of Bangor, an Option Agreement for Development of Bangor Waterfront Property with TIMKA, INC. providing for a sale of approximately 0.78 acres of City of Bangor land on Dutton Street abutting 570 Main Street, for the creation of additional parking spaces, the Option providing that the purchase price be $90,000, that before transfer of the land to TIMKA, INC. it obtain plan approval by City staff designated by the City Manager, site plan approval from the Planning Board for the additional parking spaces, if required a zone change of the land from Waterfront District to the Urban Service District, evidence needed for construction financing satisfactory to the City Solicitor, all necessary permits be secured, and an agreed on construction progress schedule, under such other terms and conditions and in a final form approved by the City Solicitor or Assistant City Solicitor. BE IT FURTHER ORDERED THAT The authorization approved by Council Order 16-326 is hereby rescinded. IN CITY COUNCIL MARCH 13, 2017 CO 17-106 MOTION MADE AND SECONDED FOR PASSAGE PASSED % CITY CLERK