HomeMy WebLinkAbout2015-10-14 15-341 ORDERCOUNCIL ACTION
Item No. 15-341
Date: October 14, 2015
Item/Subject: ORDER Authorizing the City Manager to Execute a Lease with General Electric
Company (Map 001, Lot 273, Map 001, Lot 488, Map 001, Lot 466, Map 001, Lot 487)
Responsible Department: Legal
Commentary: This Order will authorize the execution of documents necessary for a Lease
with General Electric Company. General Electric Company has leased land from the City of
Bangor since 1987. On May 11, 2015, by Council Order 15-174, the City Council authorized the
execution of a new lease with General Electric Company for a term of fifteen years. In
September 2014 General Electric Company and the City of Bangor had agreed that General
Electric Company could use a parking lot adjacent to Building 487 for the remainder of the lease.
During negotiations of the final terms and conditions of the new lease, General Electric
Company requested that the lease include an option to renew for a five year term and that it
include the parking lot adjacent to Building 487, items not previously considered by the Council.
Last month, Building 487 was demolished creating a vacant lot potentially suitable for any
expansion and it is in the best interest of the parties to include this parcel in the lease. This item
was reviewed and recommended for approval by the Business and Economic Development
Committee on October 6, 2015.
Departnfent Head
Manager's Comments:
City Manager
Associated Information:
Budget Approval:
Finance Director
Legal Approval:
i Solicitor
Introduced for
Passage
First Reading
Page _ of
Referral
15-341
OCTOBER 14, 2015
,�. Assigned to Councilor Baldacci
fes. �i
CITY OF BANGOR
ED, /
(TITLE.) ORDER, Authorizing the City Manager to Execute a Lease with General Electric
Company (Map 001, Lot 273, Map 001, Lot 488, Map 001, Lot 466, Map 001, Lot 487)
WHEREAS, General Electric Company has leased land from the City of Bangor since 1987; and
WHEREAS, by Council Order 15-174 dated May 11, 2015 the City Council authorized the
execution of a new lease with General Electric Company for a term of fifteen years; and
WHEREAS, in September 2014 General Electric Company and the City of Bangor agreed that
General Electric Company could use a parking lot adjacent to Building 487 for the remainder of
the lease; and
WHEREAS, during negotiations of the final terms and conditions of the new lease General
Electric Company requested that it include an option to renew for a five year term and that it
include the parking lot adjacent to Building 467; and
WHEREAS, Building 487 was demolished this year creating a vacant lot potentially suitable for
any expansion and it is in the best interest of the parties to include this parcel in the lease.
By Etre Oty C'ounal of ffie laity of Bangor.
ORDERED,
THAT, Catherine M. Conlow, City Manager, is hereby authorized on behalf of the City of Bangor
to execute all documents necessary for a Lease with General Electric Company consistent with
Council Order 15-176 and to include an option to renew for a period of five years with a 5%
increase in the lease rate; to include the property designated in Map 001, Lot 487 of the City's
assessing records at no additional cost to General Electric unless General Electric builds a
structure on the said parcel, in which event the parties shall in good faith negotiate an increase
in the lease rate based upon the value of the parcel; that General Electric Company may use
the parcel described as Map 001, Lot 487 for parking and storage of materials.
IN CITY COUNCIL
OCTOBER 14, 2015
MOTION MADE AND SECONDED FOR PASSAGE
PASSED
CITY CLE A