HomeMy WebLinkAbout2016-12-28 17-047 ORDERCOUNCIL ACTION
Item No. 17-047
Date: December 28, 2016
Item/Subject: ORDER, Authorizing an Amendment to the Indenture of Lease
with the Eldur Corporation at 448 Griffin Road (Map 102-001)
Responsible Department: Community & Economic Development
Commentary: Eldur Corporation would like to extend its lease of the land and building
at 448 Griffin Rd., Lot 21 in the BIA Commercial / Industrial Park for five (5) years,
January 1, 2017 to December 31, 2021. The City of Bangor and the Eldur Corporation
have agreed on an annual lease amount of $65,736 during the term. The Eldur
Corporation will be responsible for property taxes, building maintenance, insurance, and
occupancy costs and utilities. There are options for two, five (5) year extension periods.
This item was reviewed and recommended for approval by the Business & Economic
Development Committee at its December 20, 2016 meeting.
Manager's Comments:
Associated Information:
Budget Approval:
Legal Approval:
Introduced for
X Passage
First Reading
Referral
Tanya Emery
Department Head
coekn,
City Manager
Page _of_
Finance Director
City Solicitor
17-047
DECEMBER 28, 2016
Assigned to Councilor Graham
CITY OF BANGOR
(TITLE.) ORDER, Authorizing an Amendment to the Indenture of Lease with the Eldur
Corporation at 448 Griffin Road (Map 102-001)
WHEREAS, the City of Bangor is the owner of Lot No. 21 in the BIA Commercial / Industrial
Park; and
WHEREAS, by Indenture of Lease dated May 28, 1997 the City of Bangor leased a building
located on Lot No. 21 to the Eldur Corporation; and
WHEREAS, the parties would like to extend the agreement:
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 Eldur Corporation to extend its lease of land and
building at 448 Griffin Rd., for five (5) years, January 1, 2017 to December 31, 2021 at an
annual lease amount of $65,736, in a form approved by the City Solicitor or Assistant City
Solicitor. The Eldur Corporation will be responsible for property taxes, building maintenance,
insurance, and occupancy costs and utilities. There are options for two, five (5) year extension
periods. All other terms and conditions will remain the same.
IN CITY COUNCIL
DECEMBER 28, 2016
CO 17-047
PASSED
CITY CLERK