HomeMy WebLinkAbout2002-07-08 02-277 ORDERItem No. o2 -27I
Date: lull 2M
Itan/Subje : ORDER, Designafing Olympia Equity lmestors Temafive Developer of
Office Space, -Pmobseot Mverfiurrt Development Project
Responsible Deparbnent Community&Ecanomic Development
Commemary:
Olympia Equity Investors lies requested the City gain than tentative developer status of office space in
the Penobscot Riverfrom Development Project. This Order would grant Olympia Equity Investors
exclusive same as developer of office space in the Penobscot Riverfrom Development Pmjeet until
October 14, 2002. During this period, the City would deal exclusively with Olympia Equity Investors for
development of office space in the Riverfinum Project, and Olympia Equity Investors would have an
oppommlty to submit a formal development proposal to the City for the City Council's consideration on
or before September 30, 2002.
Department Head
This has been reviewed by the Business and Economic Development Commitee which recommends your
apPmval.
p
City Manager
Associated Information: Order
Fuente Director
X passage
_ First Reading page
Referral
02-2)T
Assign] to Councilor Rutucan July 8, 2002
CITY OF BANGOR
(TITLE.) Order, Designating Olympia Equity Investors Tentative Developer of Office
Space— Penobscot Riverhont Development Project
By foe OIy C0ux1 ofthe ay ofawgor.
ORDERED, THAT
WHEREAS, Olympia Equity Investors is Interested in developing professional
office space in the City owned Penobscot Riverfront Development Project; and
WHEREAS, Olympia Equity Investors requires time to prepare a foetal
development proposal for consideration by the City Council; and
WHERAS, the City has granted "tentative developer" status to potential
developers on various City owned development sites in the past, thereby providing the
developer time to prepare a specific development proposal for the City Council's
consideration and during which time the City agrees to deal exclusively with the
designated tentative developer for the purpose for which tentative developer status was
granted;
NOW, THEREFORE, BE IT ORDERED BY THE CITY COUNCIL OF THE CITY OF
BANGOR THAT, Olympia Equity Investors is hereby designated the tentative developer
of office space in the City owned Penobscot Riverfront Development Project that such
designation Is in effect until October 14, 2002, that Olympia Equity Investors shall have
until September 30, 2002 to prepare and submit in writing to the City a specific
proposal far development of professional office space in the Penobscot Riverfront
Development Project, and that during the period of designation the City agrees to deal
exclusively with Olympia Equity Investors for the purpose for which tentative developer
status is granted.
IP CITY COUNCIL
July 8. 2002
Motion Nelle aed Seconded
for Passage
Passed
C[ CLEHH
02-2])
ORDER
Title, Designating Olysqia Equity
Investors Tentative Developer of
Office Space - Penobscot Eiverfrout
Developuent Project
Assigned to
B"14v Councilor
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