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HomeMy WebLinkAbout2021-07-26 21-273 OrderCITY COUNCIL ACTION Council Meeting Date: Item No: Responsible Dept: Requested Action: Summary Committee Action Meeting Date: For: Against: City Manager City Solicitor Finance Director Map/Lot: Introduced for: Order Committee: Action: Staff Comments & Approvals Date: Item No: Assigned to Councilor: 21-273 JULY 26, 2021 Memorandum To: Members of the Business & Economic Development Committee From: Stephen A. Bolduc, Executive Manager Date: July 20, 2021 Subject: Consent to sublease a portion of the building at 366 Griffin Road (Map 100, Lot 006) owned by R & B Properties, LLC to II Pillars, Inc. d/b/a The Heating Lodge Issue R & B Properties, LLC wishes to sublease a portion of its building at 366 Griffin Rd., Bangor (Lot No. 10, BIA Commercial / Industrial Park) to II Pillars, Inc. d/b/a The Heating Lodge. The sublease must be approved by the City of Bangor. Background R & B Properties, LLC has leased the lot at 366 Griffin Rd. from the City since 2018. Its lease term runs through 2026 with two (2) additional options of five (5) years each which could extend the lease through 2036. II Pillars, Inc. d/b/a The Heating Lodge will lease approximately 12,500 sq. ft. of the building for five (5) years to operate a retail store selling stoves and fireplaces. R & B Properties, LLC will continue to sublease the facility to Harvest Moon Holdings, LLC to operate a delicatessen. The sublease will not relieve R & B Properties, LLC from any of the responsibilities or obligations of the lease. Recommendation Staff recommends approval of the sublease between R & B Properties, LLC and II Pillars, Inc. d/b/a The Heating Lodge. IN CITY COUNCIL JULY 26,2021 CO 21-273 Passed I Y L