HomeMy WebLinkAbout2016-10-24 16-385 ORDERCOUNCIL ACTION
Item No. 16-385
Date: October 24, 2016
Item/Subject: ORDER, Authorizing an Amendment to the Indenture of Lease with
USABFIT, LLC at 366 Griffin Road (Map 100-006)
Responsible Department: Community & Economic Development
Commentary: USABFIT, LLC d/b/a Union Street Athletics has exercised its option to extend the
Indenture of Lease between the City of Bangor and USABFIT, LLC for Lot 10 in the BIA
Commercial / Industrial Park located at 366 Griffin Rd. for five (5) years, November 1, 2016 to
October 31, 2021. The City of Bangor has proposed and USABFIT, LLC has accepted an annual
lease amount during the term of $16,440 annually paid monthly in the amount of $1,370.
This item was reviewed and recommended for approval by the Business & Economic Development
Committee at its October 18, 2016 meeting.
Manager's Comments:
Associated Information:
Budget Approval:
Legal Approval:
Introduced for
X Passage
First Reading
Referral
Tanya Emery
Department Head
Page _ of _
City Manager
Finance Director
City Sol itor
Assigned to Councilor Nealley
CITY OF BANGOR
16-385
OCTOBER 24, 2016
(TITLE.) Order, Authorizing an Amendment to the Indenture of Lease with USABFIT, LLC at
366 Griffin Road (Map 100-006)
WHEREAS, the City of Bangor is the owner of Lot No. 10 in the BIA Commercial / Industrial
Park; and
WHEREAS, by Indenture of Lease dated October 8, 2015 the City of Bangor leased Lot No.
10 to USABFIT, LLC; and
WHEREAS, USABFIT, LLC has exercised its option to extend the term of the lease
agreement; and
WHEREAS, the option requires the parties to establish the lease rate during the period:
BE IT ORDERED BY THE CITY COUNCIL OF THE CITY OF BANGOR THAT
The City Manager is hereby authorized, on behalf of the City of Bangor, to execute an
amendment to the Indenture of Lease with USABFIT, LLC, for a lot of land at 366 Griffin Road
(Lot No. 10, BIA Commercial / Industrial Park) which extends the term of the agreement to
October 31, 2021 and sets the lease rate at $16,440 annually paid monthly in the amount of
$1,370 during that term, in a form approved by the City Solicitor or Assistant City Solicitor.
IN(;CITY a.:COUNCIL
OCTOBER 24, 2016
CO 16-385
PA ED
CITY CLERK