HomeMy WebLinkAbout2005-03-28 05-112 ORDERItem No ns_rto
Data; March 28 2005
Item/Subject: ORDER, Authorizing Acceptance of Assignment of Contract for Sale from BanAir
Corporation and Purchase of Buildings and Improvements — 690 Malne Avenue
Responsible Department: Community & Economic Development
Commentary:
The BanAlr Corporation has secured a Contract for Sale for the purchase of 690 Maine Avenue from the
Irving Oil Corporation. This contract is assignable to the City of Bangor. This Order would authorize the
City Manager to accept the assignment of the Contract for Sale from and, upon the execution of a lease
agreement with L.L. Bean for its use of the property as a call center, to purchase the buildings and
improvements from the Irving Oil Corporatlon under the terms of the Contract for Sale.
Department Head
Recommend approval. Ufa -r
Oty Manager
Associated Information:
Budget Approval:
Legal Approval:
Introduced for
X passage
_ First Reminding
Referral
finance Director
Page _ of
05-112
S? A ipedmcounoilor Castue11 Msrca 28. 2005
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CITY OF BANGOR
(TITLE.) Order, Audwmang Acceptance of Assignment of Contract for Sale from BanAJr
Corporation and Purchase of Buildings and Improvements -690 Maine
Avenue
WHEREAS, the Bangor Airport Civic Development Corporation (Bankr) has entered a Contract
for Sate for the purchase of 698 Maine Avenue from the Irving 011 Corporation,
dated March 18, 2005; and
WHERFJS, under the terms of the Contract for Sale, Irving Oil Corporation bes coasamed W
the assignment of the Contract for Sale by BanAir M Me City of Bangor, and
WHEREAS, the obligations of the Irving Oil Corporation and BanAlr under the Contract for Sale
are cenNngent upon the buyer searing a prospective tenant with not less Man a
five-year lease within forry-five (45) days of acceptance of Me Contract for Sale by
Me IMng Oil Corporation;
NOW, THEREFORE, BE IT ORDERED BY THE CITY COUNCIL OF THE QTY OF BANGOR THAT
the City Manager is hereby authorized to accept from the Bangor Airport Civic Development
Corporation (BaMir) the assignment of the Contract for Sale by and between the Bangor
Airport Civic: Development Corporation (BaNJr) and the Irving Oil Otrporation; and
BE IT FURTHER ORDERED THAT, upon the execution of a lease agreement by and between the
City of Bangor and L.L. Bean, Inc, for the lease of 69D Maine Avenue by the City to L.L. Bean,
Inc., as authorized by the City Council of tice City of Bangor under separate Council action, the
City Manager S hereby authorized and directed to purchase Me buildings and Improvements at
690 Maine Avenue from the Irving WI Corporation under the terms contained In the Contract for
Sale by and between the Bangor Airport Civic Development Corporation and Irving Oil
Corporation dated March 18, 2005
IP CITY COMIL
March 20, 2005
Motion Made and Seconded
for sage
Pea d
TY CLE
p 05-112
O BDEk
(TITLE.) authorising Acceptance of dssigoveat
of Contract for Sale Fran Baodir Corporation
and Purchase of Building and Improveamta -
90 Maine Street