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HomeMy WebLinkAbout2000-10-28 05-352 ORDER05-352 Aaeigoed to Cowcilox Cashuell October 29r, 2005 9 - CITY OF BANGOR ' p (T11LE.) ORDER, Authorizing a Letter Agreement whh Bangor Historic Tack, Inc. Whereas, the Cry has, as of October, 2003, entered IWo various agreements with Bangor Historic Track Mat call for the location of a permanent gaming facility in Bass Park; and Whereas, the City has Identified a number of concerns regarding the location of the permanent gaming facility in Bass Park including the poteiNal necessity of relocating the Bangor State Fair; a negaboe Impact onske furlong for visitors W events and activates at the Bangor Auditorium and Chic Center; the potential elimination Of Bass Park as a possible location for a new Arena; and possible traffic Impacts on adjacent residential neighborhoods; and Whereas, as a result of Mese considerations, the Cry has encouraged Banger Historic Track to investigate other possible locations near Bass Park for the construction of the permanent gaming fadifty; and Whereas, subsequent to this request, Bangor Historic Track has pursued a proposal to construct the pem anent gaming facility on property located! Part of Main Sheet between Lincoln and Dutton Streets, referenced hereafter as the "Riverside Block"; and Whereas, the parva acknowledge that this location would, If acquired by Bangor Historic Track and leased from the City on toms and condhions agreeable W the Cry, avoid the potential negative impacts associated with constructing the permanent gaming facility in Bass Park while provIdIN for a facility located in close prwdmiry, to the existing harness racing oval; and Whereas, lasting the permanent gaming fidllity on Main Street will require various amendments and modifications to the adstmg agreements between the City and Bangor HisIoric Track, the negobation'of which Is ongoing; and Whereas, the Cry and Bangor Histadc Track have been working diligently W complete Me necessary negotiations and substantial progress has been made, although res final agreement has been reached; and Whereas, while goad faith negotiations are cor�tinukg on all necessary documents, a full and final agreement on all issues has not yet been reached and the pardes have not had sufficient time he closely review the proposed language of Me amended documents; and 05-352 Whereas, the City has been advised by Bangor Historic Track Mat in accordance with agreements negotiated by Bangor Historic Track with the entity that has ownership or control over the properties included In the Riverside Block, Bangor. Historic Track most take cetam actions on or befane October 31, 2005 in order to secure for Bangor Historic Track the conitmued ability to purchase the Riverside Block as the proposed she 4the permanent gaming focality; and Whereas, the required actions by Bangor Historic Track to acquire the Riverside Block include the payment of a $300,000 non-refundable deposit by Bangor Historic Track to Me seller and the purchase of two parcels for an additional purchase price of $180,000; and Whereas, gNen the desire of the City and Bangor Historic Track W have the necessary time to complete Meir negotiations on the amendments to the existing documents providing for the development of a permanent gaming facility in a prudent yet timely manner, Bangor Historic Track has requested that the City agree W certain actions Mat will alkvw Bangor Historic Track to take Me required actions; and Whereas, the City, and Bangor Historic Track have agreed that Bangor Historic Track will take the required actions to preserve Its ability to acquire the Riverside Block in return far an agreement by the City W abate the base rent required from Bangor Historic Track (sir property leased from the City at Bass Park for the years 2006 and 2007 by the total amount of $180,000 should the City and Bangor Historic Trade not reach an agreement on amendments and revisions to their existing agreements by November 30, 2005, sunt amendments to allow for the construction of the permanent gaming facility on the Riverside Block; NOW, THEREFORE, BE IT ORDERED BY THE CM COUNCIL OF THE CITY OF BANGOR, THAT: The City Manager is hereby authorized! W execute a letter agreement with Bangor Historic Tredy in a forth substantially consistent with Me attached and subject to the approval of the City Solicitor, Mat will allow Bangor Historic Track to take the required actions W preserve Its abil to acquire Me Riverside Block as the location of the permanent gaming fatality. IA cTTY fD➢MCIL October 38, 3005 Notion Made and Seconded It 05-353 for Passage Passed O & D 8 & TY CLEBHI(f'TLE,11 Authorizing as Pgreeoeat with LsnBnr"Historic Week