HomeMy WebLinkAbout2014-06-23 14-216 ORDERCOUNCIL ACTION
Item No. 14-216
Date: June 23, 2014
Item/Subject: ORDER, Authorizing an Amendment to the Lease Agreement with Ntension
Corporation at 110 Hildreth St. (Tax Map R09 -007-D)
Responsible Department: Community & Economic Development
Commentary: This order will authorize a lease extension with Ntension Corporation for 22,050 sq.
ft. of space manufacturing space in the City's building at 110 Hildreth Street, Bangor (Tax Map R09-
007 -D). The building is shared with another tenant Ntension Corporation is a manufacturer of tension
fabric structures used primarily in exhibitions and trade shows. The proposed lease amendment
would extend the term of the lease until September 30, 2014 at a rate of $4,595 monthly. Basic
utilities and maintenance will continue to be provided by the City. Ntension Corporation does not
have any taxes due. This item was reviewed and recommended for approval by the Business &
Economic Development Committee at its June 17, 2014 meeting.
Manager's Comments:
Associated Information:
Budget Approval:
Legal Approval:
Introduced for
X Passage
First Reading
Referral
Tanya Emery
Department Head
Finance Director
Page _of_
Assigned to Councilor Baldacci
CITY OF BANGOR
14-216
JUNE 23, 2014
(TITLE.) ORDER, Authorizing an Amendment to the Lease Agreement with Ntension
Corporation at 110 Hildreth St. (Tax Map R09 -007-D)
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 (Tax Map
R09 -007-D) and extend the term to September 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.
I-
IN CITY COUNCIL
JUNE 23, 2014
PASSED
CITY AERK