HomeMy WebLinkAbout2000-10-28 05-352 ORDER05-352
Aaeigoed to Cowcilox Cashuell October 29r, 2005
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CITY OF BANGOR '
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(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