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HomeMy WebLinkAbout2018-10-10 18-368 Order 10/10/201818-368 10/10/2018 18-368 Airport Order 001-001 Title, Order Authorizing the City Manager to Execute a Lease Agreement Between the City of Bangor and T&T Capital Inc. for the Rental of Bay #3 Within Hangar #123 at Bangor International Airport (BGR). This Order authorizes a lease agreement between the City of Bangor and T&T Capital Inc. for the rental of Bay # 3 within Hangar #123, located at Bangor International Airport. Telford Allen, President and Owner of T&T Capital desires to continuing leasing this hangar space and keep his aircraft based in Bangor. If approved, the base rent for the lease will be $2,065 per month including utilities. The term of the lease is for one (1) year, with two (2) one-year options for extensions adjusted annually based on the CPI, which shall not exceed 2.5% each year. This lease agreement has been reviewed and approved by City Legal. Airport Committee 10/01/2018 Recommend for passage 50 Staff recommends approval. Consent 10/10/201818-368 CITY OF BANGOR ORDER 10/10/2018 18-368 Nealley Authorizing the City Manager to Execute a Lease Agreement Between the City of Bangor and T&T Capital Inc. for the Rental of Bay #3 Within Hangar #123 at Bangor International Airport (BGR). WHEREAS, the City of Bangor, Maine is the owner of an airport located in Bangor, County of Penobscot, State of Maine, commonly known as Bangor International Airport; and WHEREAS, T&T Capital has an aircraft currently based at BGR, and they desire to lease hangar space in order to keep their base of operation in Bangor; and WHEREAS, the City and T&T Capital wish to enter into a lease agreement outlining the terms and conditions for the rental of Bay # 3, within Hangar #123, located at BGR; and WHEREAS, this leased space will be used exclusively for the aeronautical purposes of T&T Capital. NOW, THEREFORE, BE IT ORDERED BY THE CITY COUNCIL OF THE CITY OF BANGOR, That Catherine M. Conlow, City Manager, is hereby authorized on behalf of the City of Bangor to execute the lease agreement with T&T Capital for the rental of Bay # 3, within Hangar #123 at Bangor International Airport. Said lease agreement will run for one year, with two one-year extensions if neither party objects. The base rent for the lease will be $2,065 per month including utility costs, adjusted annually based on the CPI. The lease agreement shall be in final form as approved by the City Legal. IN CITYCCOUNiCIL OCTOBER 10, 2018 CO 18-368 PASSED CITY CLERK