HomeMy WebLinkAbout2001-03-26 01-161 ORDERItem No. 01-161
Date: March 26 2001
Item/Subject ORDER, Authorizing Execution of Release Deed - True Revival
Ministries
Responsible Department: Legal
True Revival Ministries owns adjoining parcels of land on the Finson Road. They intend to
build a parsonage on the vacant parcel, and during a review of the title discovered that the
City had a reversionary interest in the vacant lot if the property was not used for church
purposes.
Lenders are reluctant to loan money on property that have reversionary provisions In the
deeds and the church is asking that the City release its reversionary interest.
The Finance Committee recommended approval at its March 21st meeting.
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Manager's Comments:
City Manager
Associated Information:
City Solicitor
Introtlucetl for CONSENT AGENDA,
x passage
_ First Reading Pale 1 of 2
Referral
5lI Anigneino Coumilar Vaxda & Haxcu 26, 2001
CITY OF BANGOR
(=E.) ORDER, Authorizing Execution of Release Deed—True Revival Ministries
THAT Edward A. Barrett, City Manager, is authorized to execute a deed to True
Revival Ministries for the purpose of reteasinlg any reversionary interest the City of
Bangor may have in a parcel of land on the Rnson Road, Bangor (Map R23, tot 3A).
Said deed shall be in a form approved by the Office of the City Solicitor/
In Gin cao Fc
March 26, 2001
Passed
Lim C�
(TITLE,) Authorizing daecuti of Release Deed -
T e Revival Ministries