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