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HomeMy WebLinkAbout2013-06-24 13-216 ORDERCOUNCIL ACTION Item No. 13-216 Date: 3une 24, 2013 Item/Subject: Order, Authorizing the City Manager to Execute an Amendment to a Lease with Eastern Maine Healthcare Systems - 931 Union Street Responsible Department: Legal Commentary: This Order will authorize the execution of an Amendment to the Lease with Eastern Maine Healthcare Systems at 931 Union Street. The current lease provides an option to purchase the property during the term of the lease and that option will terminate on June 30, 2013. Eastern Maine Healthcare Systems has requested an extension of the term of the Lease, including the option to purchase, for an additional three (3) years. If approved the proposed amendment will grant a three year extension of the current lease in which all the terms remain the same with the exception that the lessee will pay for a new appraisal if the option to purchase is exercised during the second or third year of the extension. This item was reviewed and recommended for approval by the Business & Economic Development Committee at its June 4, 2013 meeting. Manager's Comments: Associated Information: Budget Approval: Legal Approval: Introduced for X Passage First Reading Referral Department Head Page _ of _ City Manager Hance Director Solicitor 13-216 JUNE 249 2013 Assigned to Councilor Nealley b '�`�ti; J `•�09 ;r � e CITY OF BANGOR JR4 fE iR ED. / (TITLE.) ORDER, Authorizing the City Manager to Execute an Amendment to a Lease with Eastern Maine Healthcare Systems - 931 Union Street WHEREAS, the City of Bangor leases property located at 931 Union Street to Eastern Maine Healthcare Systems; and WHEREAS, said Lease provided an option to purchase the property during the term of the Lease; and WHEREAS, said Lease terminates on June 30, 2013; and WHEREAS, Eastern Maine Healthcare Systems has requested an extension of the term of the Lease, including the option to purchase, for an additional three (3) years; and WHEREAS, it is in the best interest of the parties to extend the lease and option: BE IT ORDERED BY THE CITY COUNCIL OF THE CITY OF BANGOR THAT Catherine M. Conlow, City Manager, is authorized, on behalf of the City of Bangor, to execute an Amendment to the Lease by and between the City of Bangor and Eastern Maine Healthcare Systems. Said Amendment shall provide that the Lease shall terminate on June 30, 2016, the current lease payments shall remain the same, the most recent appraisal shall be used to set the purchase price if the option to purchase is exercised before June 30, 2014, if the option to purchase is exercised during the second or third year of the extension Lessee will obtain and pays for a new appraisal. Said Amendment shall be in a final form as approved by the City Solicitor or Assistant City Solicitor. IN CITY COUNCIL June 24, 2013 p4zon CITY dLERK