HomeMy WebLinkAbout2002-10-15 02-376 RESOLVEItem N1.02-316
Date: October 15, 2002
Item/Subject RESOLVE -Appropriating $201,136 within the Economic Development Fund
for the Purchase and Sale of the Stager Building
Responsible Department: Finance
Commentary:
In 1999, under the Federal Property and Administrative Services Act of 1949, the Stager building was
deeded to the Cityfor educational purposes M no trot Due to budgetaryconstraints and Me cost
estimates to rehabilitate and Improve the facility for an educational use, the School Department will not
be able to utilize this facility. Under the Ad cited above, the City on purchase the property for a
tlete:mined value, In this case $201,136. Therefore, the attached resolve will appropriate the funds
necessary to complete the purchase of the Slager building and create an offsetting revenue amount to be
derived either from the sale of the property or it's future use.
The Economic Development Fund will be used for this transaction. We also anticipate Mat the City will
move expeditiously to offer this property for sale.
Department
Manager's Comments:
This has been discussed on several occasions and we are now ready M proceed. I recommend
end ur
approval. ((JJ� n)) ,,,,t// y/� J� f6
F( �CIf( Or /MC- ��Ci/C CiN Manager
Associated Inbrmation:
,/
&K
Passage
-X First Reading Page_ of
X Referral to Finance Committee of October 23, 2002 at 5:00 pm
02-3]6
Anignedto Councilor Fa ingtov October 15. 2002
CITY OF BANGOR
(TITLE.) Resolve, Appropriating $201,136 within Me Economic Development Fund
for the Purchase and Sale of the Stager Building
By Bre CRY CowmY a me ofy eaungon
RES[l 11fAT Me amount of $291,136 B hereby appropriatetl within the Ecmank
9 Iopment FLM for the purchase and sale of the Sieger Building.
Ile -
IN
October ;5.3002
First Heading M 02-376
Referred to Pounce gommif[[ee
Ci 'YL�
IN CITY COUNCIL
October 28 , 2002
Motion for Passage Made
and Seconded
Passed
C
qITLsEmrr) epproprlattag $201,136 vlcbln the
Development Food for the purchase
And Sale of the Slager Building
Assigned to Councllor "1 CNAA�
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