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HomeMy WebLinkAbout2006-05-22 06-198 ORDERItem Mo, 06 198 Date: 5-22-06 Item/Subject Order, Authorizing the City Manager to Execute a Purchase and Sale Agreement with L & C Corporation — Lot 2, Maine Business Enterprise Park Responsible Department: Legal Commentary: As part of the overall effort to locate the permanent gaming facility on Main Street a number of privately held properties must be acquired, Among these are a number of parcels owned by L & C Corporadpn, including the Main Street Inn. In artier m facilitate the acquisitlon of these parcels by Bangor Historic Track, the City has agreed to enter Into a purchase and sale agreement with L & C Corporation for Lot 2 in the Maine Business Enterprise Park. The attacred order would authorize such an agreement, subject to BHf completing the acquisition of the L &C properties on or before June 22, 2006. Development on Lott of the Maine Business Enterprise Parkwlll begoverned byte C y's Comprehensive plan, land use regulations, and the existing covenants on that subdivision. Manager's Comments: Department Head Budget Approval: Finance Director Legal Approval: Introduced for _ Passage _ First Reading Page _ of _ Referral 06-198 AS AMENDED ti •"�s AssignW to Comw1or cremw 5-22-06 CITY OF BANGOR (II E.) ORDER, Authorizing the City Manager to Execute a Purchase and Sale Agreement with L & C Corporation - I.ot 2, Maine Business Enterprise Parc BE Tf ORDERED BY THE CITY COUNCIL OF THE CITY OF BANGOR THAT WHEREAS, the City and the predecessor to Bangor Historic Track, Inc (BHT) entered into a Development Agreement dated October 31, 2003 under which BHT Is required to develop a potion of Bass Park; and WHEREAS, this agreement was subsequently amended on July 5, 2005 to authorize BHT to establish a temporary gaming facility and to adjust certain dates and other requirements in the original agreement; and WHEREAS, under emsting agreements, BHT has an obligation W develop a permanent gaming facility at Bass Park; and WHEREAS, the City has identified a number of concerns regarding locating the permanent facility in Bass Park including the potential necessity of relocating the Bangor State Fair; a negative Impact on parking availability for vistas to events at the Bangor Auditorium and Civic Center; the potential elimination of Bass Park as a possible location for a new area; and possible traffic Impacts; and WHEREAS, as a result of these considerations, the City has worked with BHT to investigate other possible locations near Bass Park for the constnutlon of the Permanent Gaming Facility; and WHEREAS, BHT has proposed locating this facility on Main Street between Lincoln and Dutton Streets, the Riverside Block so-called; and WHEREAS, the parties agree that this location would avoid the potential negative impacts associated with constructing this facility M Bass Park; and WHEREAS, BHT has entered into a Purchase and Sale Agreement with L & C Corporation for the acquisition of property abutting Main and Lincoln Streets between Buck Street and Lincoln Street; and WHEREAS, saki Agreement is subject to the Qty and L & C Corporation execv8ng a Purchase and Sale Agreement for Lot 2, Maine Business Enterprise Park; and WHEREAS, the City has determined the acquisition of the property of L & C Coryoradon on Main ant Lincoln Street is in the best interest of the citizens of Bangor. 06-198 AS AMENDED NOW, THEREFORE, BE IT ORDERED BY THE CITY COUNCIL OF THE CITY OF BANGOR THAT: The City Manager is hereby authorized to execute, in a form substantially the same as Is attached hereto, a Purchase and Sale Agreement with L & C Corporation for the purchase of Lot 2, Maine Business Enterprise Park subject to and conditioned upon the execution on or before May 26, 2006 of a Purchase and Sale Agreements by and between Bangor Historic Track, Inc. and L It C Corporation pmNEing far the acquisition by Bangor Historic Tm&, Inc. of the privately owned parcels located wrthin a portion the Riverside Black, so-called, i.e., the area bounded by Main and Lincoln Streets Bangor, Maine, said acquisition to occur on or before December 31, 2006. The Purchase and Sale Agreement shall be in a final form as approved by the City Solicitor or Assistant Clty Solicitor. os 198 Auioneda Councilor Greene My 22, 2006 CITY OF BANGOR (TEFL&) ORDER, Authorizing the City Manager W Execute a Purchase and Sale Agreement with L & C Corporation - Lot 2, Maine Business Enterprise Park WHEREAS, the City and the predecessor W Bangor Historic Track, Inc. (BHT) entered into a Development Agreement dated October 31, 2003 under which BHT is required to develop a portion of Bass Park; and WHEREAS, this agreement was subsequently amended on ]uly 5, 2005 to authorize BHT W establish a temporary gaming facility and to adjust certain dates and other requirements in the original agreement; and WHEREAS, under existing agreements, BHT has an obligation to develop a permanent gaming facility a[ Bass Park; and WHEREAS, the Ory has Identified a number of concerns regarding locating the permanent facility in Bass Park including the potential necessity of relocating the Bangor State Fair, a negative impact on parking availability for visitors to events at the Bangor Auditorium and Civic Center; the potential elimination of Bass Park as a possible position for a new arena; and possible traffic Impacts; and WHEREAS, as a rasuh of these considerations, the City has worked with BHT to investigate other possible locations near Bass Park for the construction of the Permanent Gaming Facility; and WHEREAS, BHT has proposed loosing this facility on Main Street belvi Lincoln and Duttan Streets, the Riverside Bode so-called; and WHEREAS, the parties agree that this location would avoid the potential negative impacts associated with constructing this facility at Bass Park; and WHEREAS, BHT has entered into a Purchase and Sale Agreement with L Is C Corporation far the acquisition of property abutting Main and Lincoln Streets between Buck Street and Lincoln Street; and WHEREAS, sald Agreement is subject W the City and L & C Corpoaton executing a Purchase and Sale Agreement for Lot 2, Maine Business Enterprise Park; and WHEREAS, the City has determined that acquisition of the Property a L & C Corporation an Main and Lincoln Street is in the best interest of the citizens of Bangor. os 198 NOW, THEREFORE, BE IT ORDERED BYTHE CITY COUNCIL OF THE CITY OF BANGOR THAT The City Manager is hereby authorized to execute, In a loon substantially the same as is attached hereto, a Purchase and Sale Agreement with L & C Corporation for the purchase of Lot 2, Maine Business Enterprise Park subject to the acquisition by Bangor Historic Track Inc. of the privately owned parcels of L & C Corporation located will the Riverside Block, I.e., the area bounded by Main, Lincoln, and Dutton Streets, promded, however, only if said acqulsldon is completed on or before June 22, 20%. The purchase and Sale Agreement shall be in a final form as approved by the City Solicitor or Assistant City Solidtar. IN CITY C009CIL Nay 22, 2006 No too Made and Seconded for Passage Notion Made and Satonded to Attend by Substitution Passed Notion blade and Seconded for Pasaege As Anended PassA CITY CLegH p 06-198 toI 0[ecuto anrbzlno eM1e NAae� to d Pu[chese and Sale Agreement Buniveon enterprfaecPark '� n Anignetl to CCoo�ulnciciilor�n67-ULI/ k VY '