HomeMy WebLinkAbout2003-03-24 03-120 ORDERItem No. 03_120
Date: March 24 2003
Item/Subject: ORDER, Amending the Master Transaction Agreement betaveen the City of
Bangor and Bangor Nursing and Rehabilitation Center
Responsible Department. Legal
Commentary:
On December 28, 2000 the City and Bangor Nursing and Rehabilitation Center (BNRC) entered into an
Agreement wherem the Bangor Nursing Facility was privatized and operated by BNRC. As part of the
Agreement, BNRC had an option to acquire City property on Fssex Street the so-called Naval Reserve
Center, if they were to decide to relocate the facility. The option was to expire on March 31, 2002. On
March 29, 2002 the City extended the option pend to March 31, 2003.
BNRC is new requesting a ninety (90) day extension of the option pence. An architect is wonng with
BNRC regarding the possible relocation of the facility to Essex Street and an additional pend of time is
needed for BNRC to determine whether or not to exercise the option.
This Order will amend the Agreement to extend the option period to June 30, 2003.
Department Head!
f
City Manager
Associated Information: Second Amendment to Master Transaction Agreement
Finance Director
Legal Approval:
City Soliator
Iuced for
Inti
_First Reading page -L of 5
Referral
03-120
t Assignedw Councilor Greene March 24. 2003
CITY OF BANGOR
(TITLE.) ORDER,Amending the Master Transaction Agreement between the City of
Bangor and Bangor Nursing and Rehabilitation Center
Byrne Ory Courcy of vie ofy ofawBon
ORDERED,
THAT the City Manager on behalf of the City of Bangor is hereby authorized to
execute a Second Amendment to the Master Transaction Agreement between the City
of Bangor and Bangor Nursing and Rehabilitation Center, as attached hereto.
# 03-120
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Aereemem made this l3n�dav o:Aa2003 by and betweenthe Chv of
Bangor, a body politic and corporate organized and existing under out by Anne ofthe
lacers of the State of Maine, in Bangor, Penobscot County, Maine (ha<ewafter "the CIWD
and the Bangor Nursing and Rehabilitation Center, anon-pmft corporation duty
organized and existing under the laws of State of Mame wilh a place of business in
Bangor, Penobscot County, Maine (hereinafter BNRCy
WHEREAS, the parties executed a Master Transaction Agreement dated
December 28, 2000; and
WHEREAS, on March 29, 2002 the panes amended the Master Transaction
Agrwventm extend the optionor acquire the Essex Street property to March 31, 2003.
WHEREAS, the BMC has net been able m make a commitment to relocate the
facility to anew location as quickly as originally anticipated; and
WfusMAS, the parties agree that the BNRC reeds additional time to make such
a decision; and
NOW THEREFORE, the parties agree to armed the Mager Transaction
Agreement, as amended, as follows:
By deleting the following:
4. REAL ESTATE
b. The City shelf Want BNRC an option to acquire the Naval Reserve Center on
Essex Street, Bangor at m costar BNRC in the event BNRC defines m relocate its
musing and rehabilitation ficilityto that location. Saidoptionslullexpneon
March 31, 2003. In the event BNRC exercises said option, it shag construct a
new facility at The Essex threat she within eighteen (18) months after it exercises
the option and within ninety (90) days after occupying the newly constructed
facilhy, BNRC shall convey the said facility at Texas Avenue to the City at no
con 10 the City.
c. In the event BNRC acquires the Naval Reserve Center real estate pursuant to the
return of this agreement and ceases operation of musing and rehabilitation
facility before December 31, 2006 title to the land comprising the Naval Reserve
Center real estate shall revert to the City. The City has the option, at that time, to
purchase the buildings co0ahnetedlhereAn by BNRC forthe initial capitalittd
costs of the buildings, depreciated on a straight line basis for a thirty (30) year
And by replacing it with the fouos a b
4. REAL ESTATE
b. The City shall gram BNRC as option to acquire the Naval Reserve Center on
Essex Street, Bangor m an cost to BNRC in the event BNRC desires to relocate its
musing and rehabilitation facility to that location. Said option shall expire on
Jane 30, 2003. In the event BNRC exercises said option, d shall construct a new
facility at the Essen Street site within eighteen (18) months alter it exercises the
option and within ninety (90) days after occupying the newly wvaructed facility
BNRC shall convey the saki facility m Texas Avenue w the City at no cost to the
City.
c. In the event BNRC acquires the Naval Reserve Center real estate pursuant to the
terms oflhis agreement and ceases operation of messing sail rehabilitation
facility before March 31, 2006 title to the land comprising the Naval Reserve
Center real estate shall revert to the City. The City hes the option, at that time, to
purchase the buildings conSITrC[ed thereon by BNRC for the initial capitalized
costs ofthe buildings, depreciated on a snnigbt line basis for a thirty (30) yen
IN WITNESS WIMREOF, the parties hereto -have caused this Master Transaction
Agreement to be executed on tbis,�[Ld day of�R2003.
witness —
Witness
BANGORNGRSINGAND
.r it
.tom,
03-120
03-120
STATE OF MAINE
PENOBSCOT, ss 1 2003
Then personally appeared the abovcnamed Edward A Semen, City Manager for
the City of Bangor, and acknowledged the foregoing instrument to be his free act and
deed in his said capscay and the flee act and deed of the said City of Bangor.
Before me,
Notary PubliWAttomey-a[+�aw
Name: TeRu'<. Go&ay
Commission expires: /i%2 z�03
STATEOOT,ss ✓✓IP�C�.3� ,2003
STAM F M ss
Then personally appeared the abownamed G. Clifton Eames, President of
Bangor Nursing and Rehabilitation Center, and acknowledged the foregoing iastri next
to be his free act and deed in his said capacity ant tlx free act and deed of the said
Bangs Nursing and Rehabilastion Center.
Befom me,
5
o Pu or0ey-az--[aw
Name: .1�o re Thy S ANotreu/s
Commission expires:
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