HomeMy WebLinkAbout2020-11-23 21-022 Order
11/23/202021-022
11/23/2020
21-022
Community & Economic Development
Order
101-010
Title, Order
Authorizing the Assignment of a Land Lease for Property Located at 967 Illinois Ave., Lots No. 7 & 8, BIA
Commercial / Industrial Park, from Gary Hagan to Houlton Holdings, LLC
This order would authorize the assignment of a land lease for property located at 967 Illinois Ave
from Gary Hagan to Houlton Holdings, LLC. Mr. Hagan has owned the building since 1999 and
wishes to sell the building, on leased lots 7 & 8 in the BIA Commercial/Industrial Park, to Houlton
Holdings. Currently the building is leased to the US Department of Agriculture and Mr. Hagan pays
the City a monthly lease rate of $1,847.28. The term of the lease extends to 2039. To complete the
transaction, a reassignment of the lease is necessary.
I
Business & Economic Development Committee
11/17/2020
Recommend for passage
50
Consent
11/23/202021-022
CITY OF BANGOR ORDER
11/23/2020
21-022
Fournier
Authorizing the Assignment of a Land Lease for Property Located at 967 Illinois Ave., Lots No. 7 & 8, BIA
Commercial / Industrial Park, from Gary Hagan to Houlton Holdings, LLC
WHEREAS, the City of Bangor and Gary J. Hagan entered into a lease effective as of February 9, 1999 and
amended March 28, 2019 for the premises located at 967 Illinois Ave., Bangor, Maine; and
WHEREAS, Article XX of the lease states that assignment of the lease must be approved by the City and that
the City shall not unreasonably withhold its consent for Gary Hagan to assign the lease; and
WHEREAS, Gary Hagan has requested authorization to assign the Indenture of Lease to Houlton Holdings LLC
Be it Ordered by the City Council of the City of Bangor that,
the City Manager is authorized to execute a Consent to Assignment of Lease for the premises located at 967
Illinois Avenue in a form approved by the City Solicitor or Assistant City Solicitor
IN CITY COUNCIL
NOVEMBER 23,2020
CO 21-022
Motion made and seconded for Passage of Consent Agenda
Vote: 9—0
Councilors Voting Yes: Davitt,Dubay, Fournier,Hawes,Nichols, Okafor, Schaefer, Sprague,Tremble
Councilors Voting No: None
Passed
CITY CLERK