Loading...
HomeMy WebLinkAbout2000-11-27 01-39 ORDERCOUNCIL ACTION Date: November 27. 2000 Item NO. Di -39 Item/Subject: Authorizing City Manager to Exercise City's Option to Purchase Space in the Preeses Building for Maine Discovery Museum Responsible Department: Community & Economic Development Commentary: The City has reserved space in the former Brasses Building for use as a children's ma This bas been accomplished through lease and option to purchase agreements with the property owner, .IMC Partners, LLC (Joe Cloutier), Partnerships for Healthy Communities has substantially met its children's museum fundraising and space renovation performance requirements under its agreement with the City. The City's agreement with JET Partners requires that the City exercise its option to purchase the space needed by the children's museum before December 31, 2000. This Order would authorize the City Merger to exercise the City's option to purchase. Department Head Budget Approval: 4 Finance D� Legal Approval Ci of citor For j[ Passage P Piret Reading f Referral !.� Page 1 of 1 01-39 ASSI�ICJb COarMilar pardais Ravm r 27, 2000 CITY OF BANGOR (TITLE.) Order, Authorizing City Manager W Drerdw City's Option to Purchase Space in the Freeses Building for Maine Discovery Museum By stay City Olxn of Nie Oiyofganga: ORDERED, THAT WHEREAS, IMC Partners is the owner of the Main Street portion of Me Ranter Freeses Building located at 79 - %Main Street, Bangor; and WHEREAS, the City and Partnerships for Healthy Communities entered into an agreement, dated December 16, 1999, in which the any agreed W enter Into an agreement with IMC Partners, LLC, providing for the lease, until December 31, 2000, with an assignable option to purchase until December 31, 2000, of apprordmately 22,000 square Net of space in the Main Street portion of the former Freeses Building for use as a children's museum; and WHEREAS, on March 5, 1999 the City entered Into a lease, with an assignable option to purchase, with JMC Partners, LLC of app oximately 22,000 square feet of space in the Main Street portion of the former Pleases Building for use as a childrens museum; and WHEREAS, Partnerships for Healtiry Communities has substantially met the performance requitemerds of Its December 16, 1998 agreement with Me City to raise funds and renovate space to create a childram's museum; and WHEREAS, the City needs to exercise its option to purchase the space for the children's museum before December 31, 2000; NOW, THEREFORE, BE IT ORDERED BY THE CT COIINUL OF THE CITY OF BANGOR THAT, the City Manager is hereby authorizetl to exercise the City's option under the terms of the City's Purchase Option Agreement with JMC Partners, LLC dated March 5, 1999 in a form approved by the City Solicitor or Assistant City Solicitor. M CITY COMIL November 27. 2000 Passed p 01-39 O NDNN (TrrLE,�eatmrizing city Hanager to Nrereise city's Option to p Chose spare In tm Preeses H Min far Defne Discovery Hasew OEM