HomeMy WebLinkAbout2000-01-10 00-72 ORDERItem No. 0042
Date: danuarvI0,M00
Item/Subject: ORDER, Authorizing Approval of Consent to Aadgnme st of Lease -900
Hammond Street
Responsible Department Community& Economic Development
Commentary:
The City of Bangor is the owner of land at 900 Hammond Street leased in Stillwater Realty Tont
control]¢! by the Epstein family. ]ire lease requires the City earnest to any assignment of the lease. In
this case, ownership of Re buildings is being trensferred from Stillwater Realty Trust to Stillwater Realty,
LLC, ad fferent form of ownership (from a tms(to a limited liability company). Thera ate no substantive
changes to the lease. No adverse impact on the City is anticipated. Staff recommends approval.
Department Head
Managers Comments: I recommend approval.
k
City Manager
Associated Information: Order
Finance Director
tegai wpproval:
city Sallow
Introduced for Consent
X Passage
First Reading Page_ of
Assignalm Councilor Haldeecf lamuary 10, 2000
CITY OF BANGOR
(TITLE.) Order, Authorizing Approval of Consent to Assignment ofLeuee-900 flan noud
Street
by me On, Ca ww Of bite Ot y ofBangor.
WHEREAS, the City of Bangor is the owner of an airport commonly known as Bangor
International Airport, formerly (mown as Dow Air Force Base, located in the City of
Bangor, County of Penobscot, State of Maine; and
WHEREAS, by Indenture of Lease, dated May 12, 1908 and amended June 18, 1989,
Stillwater Realty Trost agreed to the lease by the Lessor of a lot of land located at 900
Hammond St., Bangor, Maine; and
WHEREAS, Article XIX, ASSIGNMENT, SALE AND SUBLETTING, of said Indenture of
Lease provides that the Lessee will not assign the lease without the written tarsen of
the tenor.
NOW, THEREFORE, 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
a "Consent To Assignment Of Lease", in a form approved by the City Solidtor or
Assistant City Solicitor, approving the assignment In Stillwater Realty, LLC of a lease
between the City of Bangor and Stillwater Reality Trust for a parcel of land at 900
Hammond St., Bangor, Maine.
IN un wmm
January 10. 2000 00.72
Passed ORDER
7ttle, "thsiiring A"roeat of
q[ Consent to-.leafgoaent of Lease -
9000 0a®oad Street
Aesignedto