HomeMy WebLinkAbout2018-04-09 18-155 Order
04/09/201818-155
04/09/2018
18-155
Community & Economic Development
Order
100-006
Title, Order
Consent to Assign a Lease between USABFIT, LLC and the City of Bangor to R & B Properties, LLC - 366
Griffin Road
This order will authorize the City of Bangor to assign a lease held by USABFIT, LLC d/b/a Union
Street Athletics to R&B Properties LLC. The owners of USABFIT LLC. are selling their building
located at 366 Griffin Rd. The building is on land owned by the City of Bangor (Lot No. 10, BIA
Commercial / Industrial Park). USABFIT would like to assign the land lease with the City of Bangor
to the purchaser of the property, R & B Properties, LLC. The assignment must be approved by the
City of Bangor.
The owners of USABFIT, LLC have leased the lot at 366 Griffin Rd. from the City since 2001. The
lease term runs through 2021 with three (3) additional options of five (5) years each which could
extend the lease through 2036. R & B Properties, LLC will continue to sublease the facility to
Harvest Moon Holdings, LLC to operate a delicatessen.
The assignment will relieve USABFIT, LLC from any of the responsibilities or obligations of the lease.
Recommend for passage
Consent
04/09/201818-155
CITY OF BANGOR ORDER
04/09/2018
18-155
Nealley
Consent to Assign a Lease between USABFIT, LLC and the City of Bangor to R & B Properties, LLC - 366
Griffin Road
WHEREAS, the City of Bangor is the owner of Lot No. 10 in the BIA Commercial / Industrial Park; and
WHEREAS, by Indenture of Lease dated October 8, 2015 and amended October 14, 2016, the City of Bangor
leased Lot No. 10 at 366 Griffin Road to USABFIT, LLC; and
WHEREAS, USABFIT, LLC has agreed to sell the building at 366 Griffin Rd. to R & B Properties, LLC; and
WHEREAS, USABFIT, LLC has requested the approval of the City of Bangor to assign the Indenture of Lease
between the City of Bangor and USABFIT, LLC to R & B Properties, LLC:
Be it Ordered by the City Council of the City of Bangor that,
The City Manager is hereby authorized to assign the Lease between the City of Bangor and USABFIT, LLC to R
& B Properties, LLC, in a form approved by the City Solicitor or Assistant City Solicitor.
IN CITY COUNCIL
APRIL 9, 2018
CO 18-155
PASSED
4.-,„„ AVra440.4.4.4)
CITY CLERK
II