HomeMy WebLinkAbout2015-07-27 15-254 ORDERCOUNCIL ACTION
Item No. 15-254
Date: July 27, 2015
Item/Subject: ORDER, Authorizing Amendment of Parking Lease with Banres, LLC — Bass
Park
Responsible Department: Legal
Commentary: This Order will authorize execution of amendment to the parking lease with
Banres, LLC. The City of Bangor and Banres, LLC are parties to a lease for 50 parking spaces
available on the adjacent Bass Park surface parking lot for employees, invitees and guests.
Banres is constructing the parking lot. The agreement provides that construction of the parking
lot shall be completed by July 1, 2015. Despite its due diligence Banres was unable to complete
the parking lot and is requesting an extension to October 30, 2015. This item was reviewed and
recommended for approval at the July 21, 2015 meeting of the Business and Economic
Development Committee.
Manager's Comments:
Associated Information:
Budget Approval:
Legal Approval:
Introduced for
Passage
First Reading
Referral
Department Head
FIRMS,
City ..-
Page _ of _
Finance Director
icitor
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JULY 27, 2015
Assigned to Councilor Faircloth
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CITY OF BANGOR
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(TITLE.) ORDER, Authorizing Amendment of Parking Lease with Banres, LLC — Bass Park
WHEREAS, the City of Bangor and Banres, LLC are parties to a Development Agreement for the
construction of a hotel, restaurant and ancillary facilities on Bass Park Boulevard; and
WHEREAS, pursuant to the terms of the Development Agreement the parries entered into a
lease for 50 parking spaces available on the adjacent Bass Park surface parking lot for
employees, invitees and guests, including a provision that Banres shall construct the parking lot
by July 1, 2015.
WHEREAS, despite due diligence Banres has been unable to complete the construction of the
parking lot by July 1, 2015 and needs additional time.
By the C'lty Counal of the City of Bangor.
ORDERED,
That Catherine M. Conlow, City Manager, is hereby authorized on behalf of the City of Bangor
to execute an Amendment of Indenture of Lease with Banres, LLC for a parking lot in Bass Park
to provide that the construction of the parking lot shall be completed by October 30, 2015.
Said amendment shall be in final form as approved by the City Solicitor.
IN CITY COUNCIL
JULY 27, 2015
PASSED
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CITY CLERK