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HomeMy WebLinkAbout2013-07-08 13-232 ORDERCOUNCIL ACTION Item No. 13-232 Date: July 8, 2013 Item/Subject: ORDER, Authorizing an Amendment to the Lease Agreement with Ntension Corporation at 110 Hildreth St. Responsible Department: Community & Economic Development Commentary: Ntension Corporation wishes to continue its lease of 9,000 sq. ft. of space in the City of Bangor's building at 110 Hildreth Street, Bangor. Ntension Corporation is a manufacturer of tension fabric structures used primarily in exhibitions and trade shows. The lease amendment would extend the term until December 31, 2013 at a rate of $2,250 monthly. Both parties are able to terminate the agreement with thirty (30) days written notice. Basic utilities and maintenance will be provided by the City. This item was reviewed and recommended for approval by the Business & Economic Development Committee at its July 1, 2013 meeting. Manager's Comments: Associated Information: Budget Approval: Legal Approval: Introduced for X Passage First Reading Referral Department Head City Manager Fi nce Director Page _ of _ V City Solicitor 'rt 13-232 a !; JULY 8, 2013 Assigned to Councilor Sprague CITY OF BANGOR (TITLE.) ORDER, Authorizing an Amendment to the Lease Agreement with Ntension Corporation at 110.Hildreth St. WHEREAS, the parties agreed to a lease agreement dated February 11, 2013; and WHEREAS, the parties wish to amend the lease agreement to extend the term. BE IT ORDERED BY THE CITY COUNCIL OF THE CITY OF BANGOR THAT, the City Manager is hereby authorized to execute an Amendment to the Indenture of Lease with Ntension Corporation to lease 9,000 sq. ft. of 110 Hildreth Street from July 1; 2013 until December 31, 2013 at a rate of $2,250 monthly. Both parties have the right to terminate the agreement with thirty (30) days written notice. Basic utilities and maintenance will be provided by the City. The lease agreement will be substantially with these terms and conditions, and in a final form approved by the City Solicitor or Assistant City Solicitor. IN CITY COUNCIL July 8, 2013 a d / CITY C ERK