HomeMy WebLinkAbout1988-02-03 Airport Committee MinutesA meeting of the Bangor City Council Airport Committee was
held on Wednesday, February 3, 1988 at 6:45 P.M. at the City
Council Conference Room.
Present were:
Mary Sullivan, Chairman
Jane Saxl
Arthur Tilley
Edward McKeon
Peter B'Errico
Item Y1 - option to lease Lot i4, Bangor International Industrial/
Commerical Airpark.
The Committee considered a request by Gary J. Hagan of Moulton, Maine
for an option to March 15th to lease Lot i4 at the Bangor International
IndgJtrial/Commiercial Airpark. The lot fronts on union Street, north-
westerly of Griffin Road, and is 1.08 acres in size. Mr. -McKeon
explained that Mr. Hagan is associated with a real estate investment
firm, Kinsley Pond Company of Houlton, and is preparing a site/
construction bid to house certain agricultural -related semi -governmental
office units seeking relocation from other Bangor buildings. The pro-
posed office building, if the bid is successful, would be approximately
5,000 square feet in size, and be a Colonial -style structure. An
option fee of $200 would be charged.
The Committee, after discussion relating to building design, lot value
and lease rental rate terms, approved the option to lease with conditions.
The lease would start at $410 per month for the first five years, based
on a lot value of $44,820, increase to $450 per month the second five
years. It authorized the development director to negotiate a means
after 10 years to renegotiate the rental. (This was done, subsequently,
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basing the rental for each of the final two five-year periods
on fair market appraisal at the start of each of those periods, with
a minimum of $500 per month and a maximum for the 11th through 15th
year of $750 per month, and a maximum for the 16th through 20th year
of $900 per month.
The Committee also requested the building be designed with brick
wall facing.
There being no other business, the meeting adjourned.