HomeMy WebLinkAbout2012-09-24 12-311 ORDERCOUNCIL ACTION
Item No. 12-311
Date: September 24, 2012
Item/Subject: ORDER, Authorizing an Amendment to the Indenture of Lease with Stillwater
Enterprises, Inc. — 108 Florida Avenue
Responsible Department: Community & Economic Development
Commentary:
Stillwater Enterprises, Inc. has leased a building at 108 Florida Ave. since 2007 and the term of
the lease extends to August 31, 2013. The lease agreement stipulates that the rent during the
period of September 1, 2012 to August 31, 2013 will be negotiated between the parties.
Stillwater Enterprises, Inc. has agreed to a rate of $1,560 per month with the tenant paying for
all utilities. The current monthly rate is $1,545. All of the other terms and conditions of the
Lease will remain the same.
Stillwater Enterprises, Inc. is a custom metal fabricator manufacturing special orders for general
contractors and architects from sheet, solid or tubular stock metal. They also create custom
products such as tidal energy structures, stair railings, elevator ladders, security doors, wheel
chair ramps and fire escapes.
Manager's Comments:
Associated Information:
Budget Approval:
Legal Approval:
Introduced for
X Passage
First Reading
Referral
Department Head
1
City Manager
Page _ of _
Finance Director
Gty Solicitor
12-311
SEPTEMBER 24, 2012
Assigned to Councilor Durgin
CI'T'Y OF BANGOR
(TITLE.) ORDER, Authorizing an Amendment to the Indenture of Lease with Stillwater
Enterprises, Inc. — 108 Florida Avenue
WHEREAS, the City of Bangor is the owner of Building #269, 108 Florida Avenue in the
Bangor International Airport Complex; and
WHEREAS, Stillwater Enterprises, Inc. has been a tenant at Building #269, 108 Florida
Avenue since 2007; and
WHEREAS, Stillwater Enterprises, Inc. has exercised its option to lease the building through
August 31, 2013; and
WHEREAS, Stillwater Enterprises, Inc. has agreed to a rate for the period ending August 31,
2013;
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 Indenture of Lease between the City of Bangor and Stillwater Enterprises,
Inc. in a form approved by the City Solicitor or the Assistant City Solicitor.
IN CITY COUNCIL
September 24, 2012
�fssed
CIC
(TITLE,)
Assigned to Councilor