HomeMy WebLinkAbout1999-07-26 99-270 ORDERCOUNCIL ACTION
Date: Suly 26 1999
Item No. 22270
Item/subject: Authorizing Development Agreement - Former
Paramount Building, 24 Harlow street
Responsible Department: Community A economic Development
Commentary: The City requested proposals for redevelopment of the former
Paramount building at 24 Harlow Street and selected Medical Care Development
and The Szanton Company as tentative developers from the two proposals
submitted (by passage of Council order 99-142 on April 12, 1999).
This Order would authorize a Development Agreement with Medical Care
Development and The Szanton company. The Development Agreement provides for
the renovation of the building into a training and social center to provide
specs to train Medical Care Development's and other organization's staff,
and to provide a meeting place for mental health and mental retardation
consumers to socialize. eleven apartments would be created on the street and
upper levels for low-income persons with mental health orental retardation
n
disabilities. Staff would be o site twenty-four hours aAny to help
residents live successfully on their own. ,.
This project would be srmilar to the Medical Care Development project in the
building adjacent to 24Harlow Street. The project's estimated cost i
$700,000. Commitments have been received from the Home Loan Back of Boston
e
for a $190,000 loan and a $165,000 grant, and from the Maine State Housing
Authority and the Maine Department of Mental Health for a $225,000 grant,
with $140,000 proposed to be loaned by the City through its Community
Development Program. The Department of Mental Health Mental Retardation and
Substance Abuse Services (DMHRSAS) will provide operating subsidies.
A i
Demount Hg d
City Manager
Finance Director
City Solicitor
xntroduced
For
0 Passage O
First
Reading
❑
Referral
Page
1
of
1
99-2]a
4unnsnedm Couadlo, ynrdamis July 26, 1999
CITY OF BANGOR
(TITLE.) (Drbgrt _... AuthsrizftDcvP]WM tt.Agreement Former
_ _ _____.__ Pararvom[Bu lth g, 24 Hmlow srceet
By rao air Couwa afar My ofBanpor.
ORDERED,
TEAT WHEREAS, the City requested proposals for the purchase and
redevelopment of the former Paramount Building at 24 Harlow Street; and
WHEREAS, Medical Care Development and The Stanton Compaay were
designeled emotive developer of the property by passage of Comcit Order 99142 on
April 12,1999;
NOW, THEREFORE, BE IT ORDERED BY THE CITY COUNCIL
OF THE CITY OF BANGOR THAT the City Manager is hereby authorized to execute a
Development Agreement with Medical Care Development and The Stamm Company for
redevelopment of the former Paramount Building az 24 Harlow Street, substantially as
attached herein, and in a final form as approved by the City Solicitor or Assistant City
Solicijor; and
BE IT FURTHER ORDERED THAT the Community end Economic
Development Committee of the City Council is hereby authorized to approve a
Community Development Property Rehabilitation Loan in support of the project in an
amount not to exceed One Hundred Perry Thousand Dollars ($140,000).
ID CITY COOACIL
July 26, 1999
motionfor Passage made
aed Secaoded
99-2)0
ORDER
Title, AutLorlving Development Agreemeat -
Former Paramount gulldiog, 26 Harlow Street
...................................... :.
Arigned.n
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