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HomeMy WebLinkAbout2016-11-28 17-015 ORDERCOUNCIL ACTION Item No. 17-015 Date: November 28, 2016 Item/Subject: ORDER, Authorizing an Amendment to the Indenture of Lease with Stillwater Enterprises, Inc. — 108 Florida Avenue Responsible Department: Community & Economic Development Commentary: Stillwater Enterprises, Inc. has exercised its option to extend its lease of a building at 108 Florida Ave. for three (3) years. Stillwater Enterprises, Inc. has agreed to a rate of $1,580 per month during the first two years, and $1,600 per month during the third year of the term. Stillwater Enterprises, Inc. is a custom metal fabrication business that has been a tenant since 2007. They manufacture special orders for general contractors and architects from sheet, solid or tubular stock metal. They also create custom products such as tidal energy structures, stair railings, elevator ladders, security doors, wheel chair ramps and fire escapes. This item was reviewed and recommended for approval by the Business & Economic Development Committee at its November 22, 2016 meeting. /s/ Tanya Emery Department Head Manager's Comments: City Manager Associated Information: Budget Approval: Finance Director Legal Approval: City Solicitor Introduced for Passage First Reading Page _ of _ Referral 17-015 NOVEMBER 28, 2016 Assigned to Councilor Tremble CITY OF BANGOR (TITLE.) ORDER, Authorizing an Amendment to the Indenture of Lease with Stillwater Enterprises, Inc. —108 Florida Avenue WHEREAS, the City of Bangor is the owner of Building #269, 108 Florida Avenue in the Bangor International Airport Complex; and WHEREAS, Stillwater Enterprises, Inc. has been a tenant at Building #269, 108 Florida Avenue since 2007; and WHEREAS, Stillwater Enterprises, Inc. has exercised its option to extend its lease for three (3) years: BE IT ORDERED BY THE CM COUNCIL OF THE CITY OF BANGOR THAT The City Manager is hereby authorized to execute, on behalf of the City of Bangor, an Amendment to the Indenture of Lease between the City of Bangor and Stillwater Enterprises, Inc. with a term of three (3) years including an option to extend the agreement for three (3) years and a lease rate of $1,580 per month during the first two years and $1,600 during the third year in a form approved by the City Solicitor or the Assistant City Solicitor. IN CITY COUNCIL NOVEMBER 28, 2016 CO 17-015 PASSED CITY CLERK