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HomeMy WebLinkAbout2020-12-28 21-053 Order 12/28/202021-053 12/28/2020 21-053 Community & Economic Development Order 001-269 Title, Order Extending the Lease Agreement with Stillwater Enterprises, Inc. This order will authorize a lease extension with Stillwater Enterprises, Inc. for Building #269, located at 108 Florida Avenue in the Bangor International Airport Complex. Stillwater Enterprises is a custom metal fabrication business that has been a tenant of since 2007. If approved, the Tenant agrees to pay a rent of $1,637 per month for three years, from September 1, 2020 to August 31, 2023 with two (2) options to extend the agreement for additional three-year terms. Additionally, Stillwater Enterprises, Inc. will receive a credit of $20,895.94 to be applied against lease payments for reimbursement of improvements to the building such as window infill and insulation. Business & Economic Development Committee 11/17/2020 Recommend for passage 50 Consent 12/28/202021-053 CITY OF BANGOR ORDER 12/28/2020 21-053 Davitt Extending the Lease Agreement with Stillwater Enterprises, Inc. WHEREAS, Lessor is the owner of Building #269, 108 Florida Avenue in the Bangor International Airport Complex; and WHEREAS, by Indenture of Lease dated July 30, 2007, amended July 27, 2011, August 1, 2012, April 4, 2014, November 15, 2016 and July 31, 2019 the parties agreed to the lease by the Lessor of the building and land at 108 Florida Ave. to operate and maintain a custom metal fabrication business; and WHEREAS, the parties wish to extend the term of said Indenture of Lease for three (3) years; Be it Ordered by the City Council of the City of Bangor that, The City Manager is hereby authorized to execute, on behalf of the City of Bangor, an Indenture of Lease between the City of Bangor and Stillwater Enterprises, Inc. with a term of three (3) years at a lease rate of $1,637 per month in a form approved by the City Solicitor or the Assistant City Solicitor. DECEMBER 28,2020 CO 21-053 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'CI:EIW