Loading...
HomeMy WebLinkAbout2015-09-28 15-321 ORDERCOUNCIL ACTION Item No. 15-321 Date: September 28, 2015 Item/Subject: ORDER, Authorizing the City Manager to execute a lease agreement between the City of Bangor and T&T Capital for the rental of Bay #3 within Hangar #123 at Bangor International Airport (BGR). Responsible Department: Airport Commentary: This Order authorizes a lease agreement between the City of Bangor and T&T Capital for the the rental of Bay # 3 within Hangar #123, located at Bangor International Airport. Telford Allen, President and Owner of T&T Capital desires to lease this hangar space and keep his aircraft based in Bangor. If approved, the base rent for the lease will be $2,015 per month including utilities. The term of the lease is for one (1) year term, with two (2) one-year options for extensions adjusted annually for inflation which shall not exceed 2.5% each year. This lease agreement has been reviewed and approved by City Legal. This item was reviewed and approved by the Airport Committee at its meeting on September 15, 2015. Tony Caruso Department Head Manager's Comments: City Manager Associated Information: Budget Approval: Legal Approval: Introduced for _X_ Passage First Reading Referral 4uwll"' Finance Director citor Page 1 of —1— 15-321 SEPTEMBER 28, 2015 Assigned to Councilor Graham CI`T'Y OF BANGOR (TITLE.) ORDER, Authorizing the City Manager to execute a lease agreement between the City of Bangor and T&T Capital for the rental of Bay #3 within Hangar # 123 at Bangor International Airport (BGR). WHEREAS, the City of Bangor, Maine is the owner of an airport located in Bangor, County of Penobscot, State of Maine, commonly known as Bangor International Airport; and WHEREAS, T&T Capital has an aircraft currently based at BGR, and they desire to lease hangar space in order to keep their base of operation in Bangor, and WHEREAS, the City and T&T Capital wish to enter into a lease agreement outlining the terms and conditions for the rental of Bay # 3, within Hangar #123, located at BGR; and WHEREAS, this leased space will be used exclusively for the aeronautical purposes of T&T Capital. NOW, THEREFORE, BE IT ORDERED BY THE CITY COUNCIL OF THE CITY OF BANGOR, That Catherine M. Conlow, City Manager, is hereby authorized on behalf of the City of Bangor to execute the lease agreement with T&T Capital for the rental of Bay # 3, within Hangar #123 at Bangor International Airport. Said lease agreement will run for one year, with two one-year extensions if neither party objects. The base rent for the lease will be $2,015 per month including utility costs, adjusted annually for inflation. The lease agreement shall be in final form as approved by the City Solicitor or Assistant City Solicitor. IN CITY COUNCIL SEPTEMBER 28, 2015 PASSED f-