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HomeMy WebLinkAbout2003-10-27 03-334 ORDERItem NO. 0a-334 - Date: October 27, 2003 Item/Subject: Authorizing an Amendment to the Development Agreement between the City and Shaw House Development Inc. Responsible Department: Community and Economic Development City Council Order 03-79 authorized the execution of a Development Agreement with Shaw House - Development Inc. for the redevelopment of the Bangor Waterworks. That Agreement was executed on April 23, 2003. A delay has been imposed on the project: by the Maine Central Railroad's appeal of the Maine DOT decision to allow a public crossing at the site. Three target dates in the Agreement should be extended so that the Development Agreement remains valid. This Order would authorize amending the original Agreement by extending each target date by one year. Department Head Manager's Comments: Recommend approval, as does the Business and Economic Development Committee. City Manager Associated Information: Approval: Finance Director ❑ Solicitor X Passage _ First Reading Page_ of Referral aYiU Assigncdto Councilor Nealley October 27, 2003 `F n: CITY OF BANGOR (TITLE.) Order, Authorizing an Amendment to the Development Agreement between the City and Shaw House Development Inc. WHEREAS, City Council Order 03-79 authorized the execution of a Development Agnrement between the ON of Bangor and Shaw House Development Inc, for the redevelopment of the Bangor Waterworks into 35 units of affordable housing for low income people; and WHEREAS, the said Agreement was executed! on April 23, 2003; and WHEREAS, due to a lengthy delay imposed on the project as a result of the Maine Central Railroad's appeal of the Maine DOTS decision to allow a public railroad crossing at the site, three target dates in the Agreement cannot be met; NOW, THEREFORE, BE IT ORDERED By THE Q COUNCIL OF THE QTY OF BANGOR THAT, the City Manager is hereby authorized to enter into an Amendment to the Development Agreement executed April 23, 2003 wRh Shaw Horse Development Inc. Mat will extend each target date in the Agreement by one year. m CPR COUNCIL October 27, 3003 esseea I, �G x 03-336 ➢A.R glTLE,) Authcc z& ss Poen�ent to the lopmer em .pod Sbev House Development, Ine. Assigned to Councilor li