Loading...
HomeMy WebLinkAbout2000-06-26 00-269 ORDERItem No. 00-269 Date: 6 - 26 - 00 Item/Subject ORDER Authorizing the City Manager to Execute a Maine State Housing Authority Leasehold Mortgage It Security Agreement, and amend the Second Amendment to Indelrture of Lease termination date. Responsible Department: Community& Eaorwmic Development Acadm Hospital Vas asked the City W aiecute one moss document, Maine Sure Housing Authority laasdmld Mortgage & Security Agreemen5 and amend the Second Amendment W Indmmre of Lease nomination date to complete its 6vancing for its most recent addition. The CitysignW a Maine Sun Housing Authority lsaaehold Mongage& Secmity Agreement as lessor when PenWie Can fiat seemed mW a lease with the City for the Hope Home in September 1998, The Move State Housing Authority is requiou8 a vow Agreement to minevle with [he new mortgage. the purpose of having the City sign the Agseemen[is W have the City submdinale its movies to dim mime Maine State Housing Authority, as the City did in 1998. One areas pmnosa of ecemtug the Smond Amendment was to align the le se (amination our with the mortgage tammetton don Store &a closing ofthe mongeges has been delayed, the termination dote of the Jesse needs W be chmgedm mmch. The eRx[ive dale shoWdbe JWY 1, 2000. The Community & Hconomtc Development Committee approved Acadia a request at its June 21, 2000 meettn8 �Nl�Ef IA1ITEI�Y �65TPOf�� Department Head �fAil` Associated Information: 0 Budget Approval: Hnance Director Zl*!Zklldb0r In!need! for Passage Find: Reading Page_ of _ Referral Aaeipedro Coaocaar Pal r Jme 26, 2000 CITY OF BANGOR ORDERED, THAT The City Manager is hereby authorized, on behalf of the City of Bangor, to execute a Maine State Housing Authodty Leasehold Mortgage & Security Agreement for the lease of the (former) Hope House property with Acadia, a copy of which is attached hereto, and execute an amended Second Amendment to Indenture of Lease with a termination date not to exceed December 31, 2030. These documents to be in a form approved by the City Solicitor or Assistant City Solicitor. IN CITY COUNCIL June 26. 2000 Motion for Passage Made and Seconded Motion to Table Made and Seconded Conecilor Crowley, abstained from discussion and vote Tabled IN CITY COUNCIL December 27, 2000 Nation to Indcfinitely Postpone Hads amA Seconded 00-269 ORDER Md% "thorfaing the City Manager to Execute a Maine State Housing Authority Leasehold Mortgage 6 Security Agreement and Aceod the Second Amendment to Inden- tern of lanes Tawwwn Tate lICA1n/.�o.J,PuLI/^ Ddundlhr )`WNNUU.