HomeMy WebLinkAbout2004-02-09 04-76 RESOLVEItem No. 06_76
Date: 02-09-04
Item/Subject: RESOLVE, RadfyiN aeration of a Partial Release of Subdivision Improvement Guarantees
for Stillwater Avenue Land Associates.
Responsible Deparbtrent: Legal
Stillwater Avenue Land Associates developed a subdivision in the Longview Drive area during the mid-
1990s. StOlwater Avenue Land Associates gave the City a number ofmongages on lots in the subdivision
as its reyuired subdivision improvement guaramee. Since then, the subdivision improvements have been
completed and accepted by the City, but one lot remains subject m a mortgage. This mortgage was
dismveord when Stillwater Avenue Land Associates conducted a Side search in the process of selling the
dust lot in the subdivision. The City executed a Probed Release of Subdivision Improvement Guarantees
un order to fscilUate the parties' closing schedule.
The Fitmvce Committee recommended approval of this item at its February 4, 2004 meeting.
Manager's Comments:
Recommend approval.
��.
Clry Manager
Associated IMormatien:
Legal Appra'tal:
Finance Director
Immduced for Consent
—XPassage
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Rehired
M-76
a' ^ Aasignwwcowcilw Palmer February 9. 2W
CITY OF BANGOR
(TME.) RESOLVE, Ratifying hxe on of a Partial Release of Subdivision Improvement
Guarantees far Stillwater Avenue land Assoclates.
J Sot
ORDERED, THAT
The execution of Me Partial Release of Subdivision ImpmvemeM GwraMees by the Clty
Manager Par Riliwatw Avenue Lent Assn sates, a ropy of which is aMatlle l hereto, is hereby
mbAeciaMaMrmed.
IN CI'R CO®CIL
Fe6ruacy 9. 2006
Yasaed
CI CL@H
NNS0LO6
(TITLE)NatifyiaN � cutiw of a Partial
Nelease of buoaxviemtmm Iwrov u Goarmtees
.for Stillwater Aveaoe L Aesadetea
Aeslgned to councilor \�