HomeMy WebLinkAbout2011-03-28 11-108 ORDERCOUNCIL AMON
Item No,
Dade: March 28 2011
Item/Subject ORDER, Authorizing an Amendment to the Lease between the City of Bangor
and Stilwater Enterpinses, Inc. —108 fiorda Avenue
Responsible Department: Community& Economic Development
Stillwater Enterprises, Inc., a custom metal fabrication business, has been a tenant at 108
Flonda Avenue since September 2007. They manufacture special orders for general contractors
and architects from sheet, wild or tubular stock metal. They also create custom products such
as trial energy structures, stair railings, elevator ladders, security doors, wheel chair amps and
fire escapes. As part of the original lease, Stillwater Enterprises, Inc. has the option to extend
Its Lease with the City for Building No. 269 located at 108 Florida Ave.
Earlier this year, Stillwater Enterpnses notified the City that it wished to exercise its option to
renew, If approved, the term of the lease extend from September 1, 2010 to August 31, 2013.
The lease rate will be $1,500 per month during the period from September 1, 2010 to August
31, 2011; and $1,545 per month from September 1, 2011 to August 31, 2012; and the City has
agreed to a future negotiation for the lease rate from September 1, 2012 to August 31, 2013.
All of the other terms and conditions of the Lease will remain the same. This item was
reviewed by the BED Committee and unanimously approved.
Department Head
Managers Comments:
City Mareger
Information:
Budget Approval:
Finance Director
Intraduced for
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-ve o ter; CITY OF BANGOR
(TITLE.) ORDER, Authorizing an Amendment to the Lease between the City of
Bangor and 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 has exercised its option to extend its lease
for an additional three years; and
WHEREAS, Stillwater Enterprises, Inc.'s continued lease of Building #269, 108 Florida
Avenue to operate and maintain a custom metal fabrication business will
assist in the growth of the business and provide new employment
opportunities for area residents.
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. which includes an extension of the term until August 31, 2013 and a
monthly lease rate of $1,500 through August 31, 2011, changing to $1,545 until August
31, 2012, and a lease rate to be negotiated for the period beginning September 1, 2012
to August 31, 2013 and in a form approved by the City Solicitor or the Assistant City
Solicitor.
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March 28, 2011
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