HomeMy WebLinkAbout2014-03-24 14-116 ORDERCOUNCIL ACTION
Item No. 14-116
Date: March 24, 2014
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 manufacturing 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 is for 22,050 sq. ft.
of space and the building is shared with another tenant.
The lease amendment would extend the term until June 30, 2014 at a rate of $4,595 monthly. Basic
utilities and maintenance will continue to be provided by the City.
This item was reviewed and recommended for approval by the Business & Economic Development
Committee at its March 18, 2014 meeting.
Manager's Comments:
Associated Information:
Budget Approval:
Legal Approval:
Introduced for
X Passage
First Reading
Referral
Department Head
Finance Director
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Page _of_
Assigned to Councilor Durgin
CITY OF BANGOR
14-116
MARCH 24, 2014
(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 22,050 sq. ft. in the building at 110 Hildreth Street and extend
the term from January 1, 2014 until June 30, 2014 at a rate of $4,595 monthly. 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
March 24, 2014
Passed
CI CLERK