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HomeMy WebLinkAbout1994-10-24 94-467 ORDERCOUNCIL ACTION Date: 10/24/94 Item No.: �e_abi Item/Subject: Amendment to a lease Agreement with International Paper Company. Responsible Department: Ccmonity and economic Development Associated Information: Budget Approval: Department Read Finance Director Legal Approval: / (�sqPaity solicitor Introduced For Passage _First Reading Page 1 of 3 _Referral Azagned to Commaor copper CITY OF BANGOR Author zing the City Meager to Banners an Amenndmentdmentto a coned , ._......Lease Agreement with International Paper Company. By Ne City Causal eftM Ctty efDawur: ORDERED, TBAT the City Manager is hereby authorized antl directed, on behalf of the City of Bangor, to execute an amendment to a lease agreement with International Paper Company for office space in Building 5272 at 39 Florida Avenue. euc\nC.mn (10/17/94) 0 CITY COUNCIL q 94-467 October 24, 1994-A O R D E R Pee d �lC Title, Authorizing the City Manager to Execute an CITY CLERK Amendment t0 a Lease Agreement with International ,Paper Company. ...................................... .. Assipsed to . ..... .......... ... Councilman ' ZL;1WCORPORATION • BANGOR AIRPORT CIVIC DEVELOPMENT CORPORATION c/o SmAoinve Dereloannent omanm.m Banger Ciry HYI Began, Maine 04901 Memorandurs To: Members of the Bangor City Council Fromz Stephen A. Bolduc, Executive Manager Bates October 24, 1994 9D B Subject: Amendment to a Lease Agreement with International Paper Company Issue The lease agreement between the City of Bangor and International Paper Company covering portions (648 sq. ft.) of Building #272 and related structures (garage and greenhouse) at 39 Florida Avenue in the Bangor International Airport complex will expire on October 31, 1994. International Paper wishes to continue to lease the space and Me accepted the following lease rate and conditions: Promises: a. 648 sq. ft. of Office apace in Building %272, 39 Florida Avenue. Is. The land and related driveways and entrances on which International Paper's garage and greenhouse e located. C. Shared use of the building's restroom, conference to=, and kitchen with other tenants. d. Right to use the driveway separating Building %272 and Building $270 jointly with the occupant of Building %270 and any other Occupants of Building 4272. Use of up to 33% of the parking area in front of Building %272. Terms One year from Movember 1, 1994 - October 31, 1995. Rate: $825.00 per month. Page 2 of 3 OPERATOR OF BANGOR FOREIGN TRADE ZONE NO. 58 Takishoas: 1207) 847<842. TELEX: BANAIR SB0007 Utilities: The City will assume the coat of utilities furnished to or consumed on the premises as listed: electricity, fuel oil, and water and sewer user fees. Maintenance: The City will assume the coat of all maintenance for all interior and exterior portions of the building including: building fixtures, equipment, operating systema, foundation, roof, building structure, door%, windows, passageways, interior and exterior surfaces, floors and floor coverings, ceilings, and parking areas. The City will also provide snowplowing and grounds landscaping. Taxes: any taxes imposed upon the real estate, building and Personal property are the responsibility of the Cityof Bangor. Any taxes Imposed upon personal property are the responsibility of International Paper. Insurances International Paper will provide comprehensive Publicand property damage liability insurance to limits of $300,000 per each occurrence. p?T.I�rI International Paper has leased some or all of the building and surrounding land since 1983. The leased area of 648 sq. ft. Is about 25% of the building's usable area. There is another tenant, Industrial Hygiene\NB in the building. The proposed rent is the sure as the previous year, $12.04 per sq. ft., which is comparable to other gross rents in Danger. The Board of Directors of BanAfr Corporation and staff recommend approval of this lease amendment under the rate and terms outlined above. Page 3 of 3 mm1e'.Wv umnno