HomeMy WebLinkAbout2016-12-28 17-048 ORDERCOUNCIL ACTION
Item No. 17-q48
Date: December 28, 2016
Item/Subject: ORDER, Approving An Amendment to a Lease Agreement with JSI
Store Fixtures, Inc. (Tax Map R09 -007-D)
Responsible Department: Community & Economic Development
Commentary: This Order will authorize the execution of an amendment to a Lease with JSI
Store Fixtures, Inc. at 110 Hildreth St. The lease term will extend for five (5) years to December
31, 2021. JSI will lease all of the office and production space; will be responsible for all occupancy
costs and property taxes; will be responsible for ordinary and routine maintenance; and the lease
rate will be reduced. All other terms and conditions will remain the same.
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: Order
Budget Approval:
Legal Approval:
Introduced for
X Passage
First Reading
Referral
Tanya Emery
Department Head
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City Manager
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Finance Director
Page _ of _
City Solicitor
17-048
DECEMBER 28, 2016
Assigned to Councilor Perry
CITY OF BANGOR
(TITLE,) ORDER,, Approving An Amendment tQ a Lease Agreement with JSI Stare Fixtures,
Inc. (Tax Map 8.09-007-D)
WHEREAS, the City of Bangor is the owner of land and building located at 110 Hildreth
Street, Bangor; and
WHEREAS, JSI Store Fixtures, Inc. has leased space at 110 Hildreth St., Bangor since
December, 2013; and
WHEREAS, the parties would like to extend the agreement; and
WHEREAS, approval of the lease amendment will result in new employment opportunites:
BE IT ORDERED BY THE CITY COUNCIL OF THE CITY OF BANGOR THAT
the City Manager is authorized to execute an amendment to a lease agreement with JSI Store
Fixtures, Inc. to extend its lease of land and building at 110 Hildreth Street for five (5) years,
January 1, 2017 to December 31, 2021 at an annual lease amount of $81,642, in a form
approved by the City Solicitor or Assistant City Solicitor. JSI Store Fixtures, Inc. will be
responsible for property taxes, building maintenance, insurance, and occupancy costs and
utilities. All other terms and conditions will remain the same.
IN CITY COUNCIL
DECEMBER 28, 2016
CO 17-048
STkD
CITY CLERK