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HomeMy WebLinkAbout2008-11-24 09-012 ORDERCOUNCIL ACTION Item No. 09 n 1 Date: November 24, 2008 02- Item/Subject: ORDER, Authorizing the Airport to Enter into a Lease Agreement with T-3 Leasing for Corporate Aviation Hangar Bay # 3 at Bangor International Airport. Responsible Department: Airport Commentary: The Telford Group continues to grow and expand, and it desires to lease additional space at the Airport for one of its subsidiaries, T-3 Leasing. T-3 Leasing desires to lease the third bay in the corporate hangar. The hangar bay, which is not currently leased, is approximately 3600 square feet. The lease term would be for one year with two one year options to renew. The rental rate will be $19,392 for the first year, 20,364 for the second year, and $21,338 in the third year. Rebecca Hupp Department Head Manager's Comments: This has been reviewed and is recommended by the Transportation and Infragructure Committee. , t"w.yW06 c.1 tiMw!fw —�— City Manager Associated Information: Budget Approval: Finance Director Legal Approval: Introduced for X Passage First Reading Referral Solicitor Page 1 of 1 09 012 Assigned to Councilor D' Errico November 24, 2008 CITY OF BANGOR (TITLE.) ORDER, Authorizing the Airport to Enter into a Lease Agreement with T-3 Leasing for Corporate Aviation Hangar Bay # 3 at Bangor International Airport. WHEREAS, T-3 Leasing desires to lease Bay #3 of Building #123 (also known as the Corporate Aviation Hangar) at Bangor International Airport; and WHEREAS, the Airport and T-3 Leasing have reached agreement on the terms and conditions for a new lease; and WHEREAS, the agreed to terms and conditions allow the Airport to recover its costs and provides for annual CPI adjustment; and WHEREAS, the leas agreement will provide additional revenue to the Airport; NOW, THEREFORE,, BE IT ORDERED BY THE CITY COUNCIL OF THE CITY OF BANGOR, that the Airport is authorized to enter into a lease amenment with T-3 Leasing in a form acceptable to the City Solicitor or the Assistant City Solicitor. IN CITY COUNCIL November 24, 2008 Passed 1w CIA, DEPUTY CITY CLERk # 09-012 (TITLE, Atit-hnri 7i rg rha Ai room _ to R*+ter into a Lease Agreement with T-3 Leasing fnr Cnrnnrate Aviation haagar Bay 03 at Bangor International Airport r Assigned to Councilor