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
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�Nl�Ef IA1ITEI�Y �65TPOf�� Department Head
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Associated Information: 0
Budget Approval:
Hnance Director
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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
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