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
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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
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CITY CLERff