HomeMy WebLinkAbout2001-10-22 01-411 ORDERItem No. o1 -4L
Date: October22 2001
Item/Subject: ORDER, Extending Tentative Developer Status— Down lImperties—
Penobscot Rivertront Hatel
Responsible Department: Community D Economic Development
Commentary:
fallowing the City's issuance of a formal Request for Qualification and Request for Proposals from
developers, the City Council in My designated Ocean Propertles Ltd, as the developer of the headquarters
hotel In the Penobscot Rivernont Development Project. The Order gave City staff and Ocean Properties until
September 24, 2001 to allow sufficient time to negotiate a development agreement for Council's
consideration. Due to fire complexity of the project and changes in the proposed location of the
amphitheater, additional time was needed to negotiate the development agreement and the Council by
passage of Council Order 01-380 granted an edenion until the second Council meeting in October. This
Order would provide an additional extension until December 31, 2001.
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Manager's Comments:'��
City Manager
Associated Information:QAlyt
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Rnance Director
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Referral
Asslgneato Councilor Haldacd Occobm 22, 2001
CITY OF BANGOR
(TITLE.) order, Eidending Tentative Developer Status — Ocean Properties - Penobscot
River -front Hotel
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(H DORED, THAT
WHEREAS, the City Council by passage of Council Order 01-273 designated Ocean Properties
W. as the tentative developer of the proposed headquarters hotel In the Real River -front
Development Project; and
WHEREAS, Council Order 01-273 provided that City 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, which dated was extended to the second Council
meeting In October by passage of Council Order 01-380; and
WHEREAS, due to the complexity of cite project and recent changes to the proposed location of
the amphitheater, additional time is needed by the parties W complete negotiations;
NOW, THEREFORE, BE IT ORDERED BY THE CITY COUNCIL OF THE CRY OF BANGOR THAT,
the cleagnation of Ocean Properties Ltd. as the tentative developer of a proposed headquarters
hotel in the Penobscot Rivedront Development Project is hereby extended to December 31,
2001, during which time Ocean Properties shall have an exclusive option to negotiate a
development agreement with the City Manager and appropriate City staff for consideration by
the City Council on or before December 31, 2001.
I Ciel COONCIL
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