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HomeMy WebLinkAbout2016-09-12 16-348 OrderCOUNCIL ACTION Item No. 16-348 Date: September 12, 2016 Item/Subject: Order, Authorizing Execution of Agreement with C&L Aerospace Holdings LLC - Bangor International Airport Responsible Department: Legal Commentary: C&L Aerospace Holdings, LLC wishes to have renovations to the premises it leases from the City of Bangor to include a commercial aircraft refurbishment and painting facility. The cost of this is estimated to be $2,486,008, and C&L Aerospace Holdings, LLC requested assistance from the City to obtain an Economic Development Administration grant for one-half the project cost. The City applied for and received an Economic Development Administration grant in the amount of $1,243,004 for the aforementioned Project. The grant requires that the City match the grant amount of $1,243,004. The City has agreed to fund $310,000 of the required matching funds for specific parts of the Project and C&L has agreed to fund the balance of the matching funds for the Project. This Order, if approved will authorize the execution of an agreement between the City and C&L for the payment of these renovations and improvements. Department Head Manager's Comments: City Manager Associated Information: Budget Approval: Finance Director Legal Approval: ity §blicitor Introduced for x Passage First Reading Page 1 of 1 Referral TBA�. jy n \yeoR� i01ry�� 4iED,F 16-348 SEPTEMBER 12, 2016 Assigned to Councilor Perry CITY OF BANGOR (TITLE.) ORDER, Authorizing Execution of Agreement with C&L Aerospace Holdings LLC - Bangor International Airport WHEREAS, C&L Aerospace Holdings, LLC wishes to have renovations to the premises it leases from the City of Bangor to include a commercial aircraft refurbishment and painting facility; and WHEREAS, the cost of this is estimated to be $2,486,008, and C&L Aerospace Holdings, LLC requested assistance from the City to obtain an Economic Development Administration grant for one-half the project cost; and WHEREAS, the City applied for and received an Economic Development Administration grant in the amount of $1,243,004 for the aforementioned Project; and WHEREAS, the EDA grant required that the City match the grant amount of $1,243,004; and WHEREAS, the City has agreed to fund $310,000 of the required matching funds for specific parts of the Project and C&L has agreed to fund the balance of the matching funds for the Project. By the City Council of ffie City ofBan w. ORDERED, That Catherine M. Conlow, City Manager, is hereby authorized to execute an Agreement with C&L Aerospace Holdings, LL for payment from C&L of matching funds for an Economic Development Administration grant received by the City. Said agreement provides for payment in advance by C&L for each phase of construction and such other terms as appropriate. Said agreement shall be in a final form approved by the City Solicitor, IN CITY COUNCIL SEPTEMBER 12, 2016 CO 16-348 MOTION MADE AND SECONDED FOR PASSAGE ZPAD) CITY CLERK