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HomeMy WebLinkAbout2018-09-24 18-359 Order 09/24/201818-359 09/24/2018 18-359 Community & Economic Development Order N/A Title, Order Authorizing an Amendment to the Indenture of Lease with FGS/CMT, Inc. at 136 Florida Avenue – Map 001 Lot 097 FGS/CMT, Inc. wishes to extend the term of its lease agreement for use of Building #97 at 136 Maine Ave., Bangor. (Map 001 – Lot 097) FGS/CMT, Inc. has been leasing Building #97 at 136 Maine Ave. since 1996 for use as professional office. The current lease rate is $1,070 per month. FGS/CMT, Inc. has accepted the terms of this proposed agreement. The proposed amendment would make the following substantive changes to the lease agreement: 1. Extend the term for three (3) years 2. Increase the lease rate to $1,136 per month during the first year, $1,199 per month during the second year and $1,266 per month during the third year. Business & Economic Development Committee 09/18/2018 Recommend for passage Consent 09/24/201818-359 CITY OF BANGOR ORDER 09/24/2018 18-359 Tremble Authorizing an Amendment to the Indenture of Lease with FGS/CMT, Inc. at 136 Florida Avenue – Map 001 Lot 097 WHEREAS, the FGS/CMT, Inc. has leased office space in the building at 136 Maine Ave. from the City of Bangor since 1996; and WHEREAS, the FGS/CMT, Inc. has requested to extend the term of the lease agreement: Be it Ordered by the City Council of the City of Bangor that, the City Manager is hereby authorized, on behalf of the City of Bangor, to execute an Amendment to the Indenture of Lease between the City of Bangor and FGS/CMT, Inc. for offices at 136 Maine Ave. in a form approved by the City Solicitor or Assistant City Solicitor. The the term is extended for three (3) years at a lease rate of $1,136 per month during the first year, $1,199 per month during the second year and $1,266 per month during the third year. IN CITY COUNCIL SEPTEMBERc24, 2018 CO 18-359 PASSED CITY CLERK