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.
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Legal Approval:
City Rolled toz
Introduced For Passage R Nirst Reading ❑ Referral
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Budget
Approval:
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Finande
Director
Legal Approval:
City Rolled toz
Introduced For Passage R Nirst Reading ❑ Referral
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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
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O RDRR
Tentative
AssignedtoCouncilor—