HomeMy WebLinkAbout2012-09-24 12-310 ORDERCOUNCIL ACTION
Item No. 12-310
Date: September 24, 2012
Item/Subject Order, Authorizing Execution of an Amendment to a Lease Agreement with
Penquis —120 Venture Way
Responsible Department: Community & Economic Development
Commentary:
Penquis is entering the sixth year of a twenty year agreement to lease a building at 120 Venture
Way for operation of a childcare center. The lease agreement stipulates that the rent during the
period of September 1, 2012 forward will be negotiated between the parties.
Penquis has agreed to the proposed amendment which establishes the lease rate at $32,436
annually for the next five years. The current annual rate is $29,520. There are no other
changes to terms and conditions of the lease agreement.
Department Head
Manager's Comments: CEC M CM
City Manager
Associated Information:
Budget Approval:
Legal Approval:
Finance Director
City solicitor
Introduced for
X Passage
First Reading Page _ of _
Referral
12-310
SEPTEMBER 24, 2012
Assigned to Councilor Gratwick
CITY OF BANGOR
(TITLE.) ORDER, Authorizing Execution of an Amendment to a Lease Agreement
with Penquis— 120 Venture Way
WHEREAS, Penquis has leased a building at 120 Venture Way from the University of
Maine System and the City of Bangor for a number of years; and
WHEREAS, Penquis wishes to continue to lease the building at 120 Venture Way and
the land appurtenant thereto, for the continued operation of a daycare center
and related administrative functions; and
WHEREAS, the lease agreement stipulates that the rent during the period of September 1,
2012 forward will be negotiated between the parties:
BE IT ORDERED BY THE CITY COUNCIL OF THE CITY OF BANGOR, THAT
The City Manager is hereby authorized, on behalf of the City of Bangor, to execute an
amendment to the Indenture of Lease between the City of Bangor and Penquis in a form
approved by the City Solicitor or Assistant City Solicitor.
IN CITY COUNCIL
September 24, 2012
Passed
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CI CLERK
(TITLE,)
Assigned to Councilor