HomeMy WebLinkAbout2011-05-23 11-166 ORDERCOUNCIL ACTION
item No. i b ti
Date: S23-2011
item/Subje . Order, Authorizing the Termination of the Indenture of Lease with the
Philtrum Corporation at 4 Florida Avenue
Responsible Department: Community and Economic Development
Since 1986, The Philtrum Corporation has leased the olfloe building at 99 Florida Avenue from
the City of Bangor. Phihrum recently purchased a building in the City of Clangor and would
like to relocate their off loss to this new location. As a result, Philtrum has requested that the
Gry terminate their lease agreement with them, effective July 31, 2011. The arrant lease rum
through May 31, 2013. If approved, this order would autllorize the early termination of a lease
with Philtrum Corporation.
Departrnern Head
ManageYs Commends: .'.fir^ W CJe
gtotrr�p.,taQ laa luy„ r) ,D pA V"! City Manager
Associated Information:
6r
Budget Approval
Finance Director
City Solicitor
In"uced for
Pasn:age
_ First Reading Page _ of _
Referral
Fri
Assigner ro Councilor - pa]m¢r tlay $. 2011
CITY OF BANGOR
(TITLE.) ORDER, Authorizing the Termination of the Indenture of Lease with the Philtrum
Corporation at 49 Florida Avenue
WHEREAS, the City of Bangor Is the owner of a building located at 49 Florida Ave., Bangor,
Maine; and
WHEREAS, by Indenture of Lease dated June 4, 1986, the City of Bangor agreed to lease
the building to the Philtrum Corporation; and
WHEREAS, by subsequent amendments the City of Bangor agreed to extend the term of the
agreement to May 31, 2013; and
WHEREAS, the Philemon Corporation has requested the Indenture of Lease be terminated as
of July 31, 2011;
BE IT ORDERED BY THE CITY COUNCIL OF THE CITY OF BANGOR THAT
The Oty Manager is hereby authorized, on behalf of the City of Bangor, to terminate the
Indenture of Lease between the City of Bangor and Philtrum Corporation, Inc. as of July 31,
2011 in a final form as approved by the City Solicitor or Assistant City Solicitor upon receipt of
all lease payments due through July 31, 2011.
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