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HomeMy WebLinkAbout2018-10-10 18-367 Order 10/10/201818-367 10/10/2018 18-367 Community & Economic Development Order 101-008 Title, Order Authorizing an Amendment to Indenture of Lease and Establishing the lease rate with Stephen and Jane Arey, for land at 395 Griffin Rd. - Spectacular Events Center, (Map 101 Lot 008). This order will authorize an amendment to a lease with Stephen and Jane Arey for property located at 395 Griffin Road, currently known as Spectacular Events Center. The proposed term of the lease is for the period of December 1, 2017 to November 30, 2022. If approved, the amendment establishes lease rate increases over the next five (5) years, eventually reaching $26,500 as prescribed by a recent appraisal. This increase is consistent with direction provided by members of the Business and Economic Development Committee. Business & Economic Development Committee 10/02/2018 Recommend for passage 50 Consent 10/10/201818-367 CITY OF BANGOR ORDER 10/10/2018 18-367 Davitt Authorizing an Amendment to Indenture of Lease and Establishing the lease rate with Stephen and Jane Arey, for land at 395 Griffin Rd. - Spectacular Events Center, (Map 101 Lot 008). WHEREAS, the City of Bangor is the owner of certain real property situated at 395 Griffin Road, Bangor, Penobscot County, Maine (the “Premises”); and WHEREAS, the City of Bangor leased the Premises to Kathy Harvey d/b/a Kathy’s Catering pursuant to the terms of a lease dated December 15, 1997; and WHEREAS, the lease was assigned to Stephen P. Arey, Sr. and Jane E. Arey dated November 24, 1999 and recorded in Book 7243, Page 105 of the Penobscot County Registry of Deeds: Be it Ordered by the City Council of the City of Bangor that, the City Manager is authorized to execute an amendment to the Indenture of Lease between the City of Bangor and Stephen P. Arey, Sr. and Jane E. Arey that establishes the lease rate for the period of December 1, 2017 to November 30, 2022 in a form approved by the City Solicitor or Assistant City Solicitor. IN CITY COUNCIL OCTOBER 10, 2018 CO 18-367 PASSED X!rjerr7A./4"...f:vi CITY CLERK •