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HomeMy WebLinkAbout2001-09-24 01-380 ORDERCOUNCIL ACTION Date: Sgod_ 01-380 Item No. Item/aubject: Extending Tentative Developer Status — Ocean Properties- Penobemt Rivetfront hotel Responsible Department: Community& Economic Development Commentary: Following the 0" issuance of a formal Request for Quali iwtions and Request for Proposals from developers, the Cty Coundl this past July designated Ocean Properties W. as the developer of the headquarters hotel. The hotel will be the centerpiece of private development in the Penobscot Riverfront Development Project The Council gave Ocean Properties exclusive status as developer until September 24, 2001 to allow City staff time to negotiate a development agreement for Council's consideration on our before September 24th. Due to the complexity of the project and recent Changes to the proposed location of the amphitheater, Additional time is needed to negotiate the development agreement. This Older would provide for a onemonth eutenslon until the second Council meeting in Ocmftr. tmenr H d atmager's Legal Approval: City Rolled toz Introduced For Passage R Nirst Reading ❑ Referral vagayofl Budget Approval: 9 N L' Finande Director Legal Approval: City Rolled toz Introduced For Passage R Nirst Reading ❑ Referral vagayofl 01-380 Assignd to Councilor Paler septe er 24, 2001 CITY OF BANGOR (TITLE.) Order, Extending Tentative Developer Status- Ocean Properties - Penobscot Riverhont Hotel By 01y cauntrrwr2,e aswBangs: OROEREI THAT WHEREAS, the qty Council by passage of Council Order 01-273 designated Ocean Properties Ltd. as the tentative developer of the proposed headquarters hotel in the Penobscot R'rrerfront Development Project; and WHEREAS, Council Order 01-223 provided that CRy staff and Ocean Properties have until September 24, 2001 to negotiate a development agreement for consideration by the City Council on or before September 24, 2001; and WHEREAS, additional time Is needed by the parties W complete negotiations; NOW, THEREFORE, BE TF ORDERED BY THE CITY COUNCIL OF THE CITY OF BANGOR THAT, the designation of Ocean Properties Ltd. as the tentative developer of a proposed headquarters hotel in the Penobscot Rlverfront Development Project is hereby extended to October 22, 2001, during which time Ocean Properties shall have an exclusive option to negotiate a development agreement with the City Manager and appropriate City staff hur consideration by the City Council on or October 22, 2001. IX CITY COUNCIL September 24, 2001 Retimm nine c Reemaden for Passage Passed dFBR p D1—iRD O RDRR Tentative AssignedtoCouncilor—