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HomeMy WebLinkAbout2003-01-27 03-57 ORDERCOUNCIL ACTION Item No. 03-57 Date: January 27, 2003 Item/Subject Order, Designating Capital Seven, LLC as Tentative Developer for Various Projects at Bass Parc Responsible Department City Council Commentary: Several months ago, the City Council heard a presentation from Capital Seven, LLC for Various improvements at Bass Parc. Phase one of this project includes expansion of Me hamess racing track m 5/Sths of a mile. Phase two, which is dependent upon approval of statewide and local referendums aut orivng Me installation of video lottery terminate, would include a more, conference center, and hotel. Since Me label presentation, additional information has been gathereQ several ether meetings have been held, and we anticipate that Me Council will have Me opportunity to meet with the project's principal, Shawn Scott, on Monday, prior to the meeting. The attached order would designate Capital Seven as Me tentative developer for this project for a period ending on May 1, 2003. Designation of a tentative developer indicates that the City intends to enter into negotiations with the developer for a complete development agreement on Me proposal and will not entertain proposals for the property mom any other parry during the tentative developer period. While designation of a tentative developer does not require that a development agreement eventually be approved by Me Ory, it does imply that Me City will negotiate in good With toward such an agreement. This Order appears on Me agenda should the Council wish to take action on Monday. At the same time, since the Council will be meeting with Mr. Scott that same evening, it should be recognized Mat additional questions or issues might arise Mat would result in this item being tabled to a subsequent meeting. By placing Me item on the agenda, even If H is tabled, we will Insure that interested members of the public are aware that action on this issue may be taken. Department Head Manager's Comments: r City Manager Asociated Information: Finance Director Legal Approval: sj, Solicitor Introducedsafer % Passage _ Firs[ Reading page_of Referral AssignMmCouncilor fleauey January 22, 2003 CITY OF BANGOR (TITLE.) Order, Designating Capital Seven, LLC as Tertative Developer for Various Projects at Bass Park WHEREAS, Captal Seven, LLC has approached Me City with various proposals regarding development and retlevebpment at Eass Park; and WHEREAS, the first phase of their proposal will result in an expanded hamess rating track and grandstand as well as associated improvements In other harness coding fadlides; and WHEREAS, as proposed, phase two of the development, which is dependent upon loal and statewide approval of reference authorizing the operation of video lottery terminals at harness racing tract¢, will imiude construction of a racirro, conference center, and hotel; and WHEREAS, such improvements will result in an attraction in Bangor that will result in an increase in vlsitors and economic ac ity; and WHEREAS, sunt improvements will also res It in an increase in the tax base of the community and may generate other revenues that could assist the City in financing other desired improvements or operations; and WHEREAS, it is prudent that the City fully explore this proposal and evaluate It potential for maintaining and Improving hamar racing, attracting additional vidtars and economic actift to the community, and providing finandal mmurces W the City. HOW, THEREFORE, BE IT ORDERED BY THE CRY COUNCIL OF THE CM OF BANGOR, THAT: Captal Seven, LLC Is hereby designated as tentative developer for various projects at Bass Park for the period ending on May 1, MO. IN CPl[ COUNCIL 3aedar9 37. 2003 gotten Naas d pervaded for Passage Clarkes Rickel. Ranges: Resident, urged passage of thla Order. Fd Rudnicki, ganger Resident. Repressed Concern about the changes proposed to sees Park and he felt it might not longer be a Public space. Mt. Ruanickf also consented that he does not support slot marbiues Passed _ l,3 pr cbRCRR y O RURR (TITLEJDesigmtfng capital seven. btc as Tentative Developer for Various Projects at Ross Park AuignM m Cauncimt