Loading...
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, 2 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.