Loading...
HomeMy WebLinkAbout2014-09-08 14-285 ORDERCOUNCIL ACTION Item No. 14-285 Date: September 8, 2014 Item/Subject: ORDER, Authorizing an Amendment to the Indenture of Lease with L.L. Bean, Inc. (Map 102, Lot 006) Responsible Department: Community & Economic Development Commentary: This Order will authorize an amendment to the lease with LL Bean, Inc. to extend the lease term for the Bangor facility until 2016. L.L. Bean will continue to have an option to terminate the lease by providing a six (6) month notice of termination. LL Bean, Inc. is responsible for taxes, utilities and other operating costs. This item was reviewed and recommended for approval by the Business & Economic Development Committee at its May 20, 2014 meeting. /s/ Tanya Emery Department Head Manager's Comments: 1, M! City Manager Associated Information: Budget Approval: Finance Director Legal Approval: '6ityulicitor Introduced for Passage First Reading Page _ of _ Referral IN CITY COUNCIL SEPTEMBER 8, 2014 PASSED Aj . " � CITY CLERK 14-285 SEPTEMBER 8, 2014 Assigned to Councilor Nealley CITY OF BANGOR —(TITL-E.)—ORDER,—Authorizing anAmendment to-the-Indenture-of-L-ease-with-L--L.-Bean Inc. (Map 102, Lot 006) WHEREAS, the City of Bangor is the owner of land and a building located at 690 Maine Avenue, Bangor, Maine; and WHEREAS, by Lease dated April 29, 2005 and amended April 30, 2010, the City of Bangor agreed to lease to L.L. Bean, Inc. the land, building and improvements located at 690 Maine Avenue; and WHEREAS, the parties wish to amend said Lease 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, on behalf of the City of Bangor, an Amendment to the Lease between the City of Bangor and L.L. Bean, Inc. to extend the lease term until 2016, in a form approved by the City Solicitor or the Assistant City Solicitor. IN CITY COUNCIL SEPTEMBER 8, 2014 PASSED aJ �o-aA� CITY CLERff