HomeMy WebLinkAbout1999-12-27 00-58 ORDERW-58
COUNCIL ACTION
Date: Oecemher 27 1999
Iiew NO. Dg=SE_
Item/Subject: Amending Council Order 98-397 to Substitute the Name
JMC Partners, LLC for Realty Resources Chartered
Responsible Department Community R Economic Development
C®aitary: The City loan commitment was to Realty Resources Chartered for
rehabilitation of the bottom three floors and basement of the Preeses
Building. The loan commitment was for a loan in the amount of $1.534,300
and Tax Increment Financing in the amount Of $400,000. Realty Resources
Chartered has formed JNC Partnere, LLC as the ownership entity of the apace
volved. This Order would amend Council Order 98-397 approving the
substituting of the names. This authorizes the loans to MC Partners, LLC
instead of Realty Resources Chartered.
Dppartment Head
Manager's Consists;
CJ Y � WVIAIN/ CY.I�U
City Manager
Associated Information Q.A..
Finance Director
City Sw4citor
Introduces Por eassess 0 First Reading ❑ Referral
nom^' Pageyof I
A aiyFlM to Councilor Holum peceaher 27, 1999
CITY OF BANGOR
Ameadmg Council Order 98 39'1 to Substitute do Name
MC Partnere, LLC for Realty Resources Chartered
B9 w Ciro Cuunod was MW 9f Bu per
ORDERED, WHEREAS, by passage of Council Order 98-397 on September 28,1998
THAT the City Council approved loans to Realty Resources Chartered for the
rehabilitation of the Preeses Building; and
WHEREAS, Realty Resources Chartered bas formed MC Partners, LLC
as the development and ownership entity for the rehabilitation of the
bottom three Boars and basement of the Freese; Building;
NOW, THEREFORE, BE IT ORDERED BY THE CITY COIJNCH,
OF THE CITY OF BANGOR THAT, Council Order 98-397 is hereby
amended by substituting the name JMC PaMers, LLC for Realty
Resources Chartered.
IR an m IL
Recember 27. 1999
Passed
00-50
ORDER
Title, Aneading Council Order 98-397
to Substitute the pave J Partners.
LLC for realty Resources Chartered
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�yp �Ae®gned tt„o�
UCouncilman ;