HomeMy WebLinkAbout2000-01-10 00-73 ORDERItem No. 00-73
Rem/Subject: ORDER, Authorizing Approval ofCament to Assignment of Lease - 890
Hammond Street
Responalble Department Community lh Economic Development
The City of Bangor is the owner of land at 890 Hammond Shee[ leased to Stillwater Realty Trust
controlled by the Epstein family. The lease requires the City consent to any assignment of the lease. In
this rase, o vaership ofthc buildings is being transferred from Stillwater Realty Trust to Stillwater Realty,
LLC, a different Earn of ownership (from atrust in a limited liability company). There me no substantive
,. changes to the lease. No adverse impact on the City is amicipmed. Staffrecommmds approval
DepartmerR Head
Manager's Comments: Recommend approval.
Cry Manager
Associated Information: Order
Budget Approval:
Flnance Director
Legal Approval:
aty Saidtor
Introduced for Consent
X Passage
_ First Reading Page _ of_
Referral
W-73
h V Aaat®KEroCouncilm
Crowley January 10, 2000
CITY OF BANGOR
(MLE.) Order, Authorizing Approval of Consent to Assignment of Lease -890 Hammond
Street
WHEREAS, the City of Bangor Is the owner of an airport commonly known as Bangor
International Airport, formerly known as Dow Air Force Base, located in the City of
Bangor, County of Penobscot, State of Maine; and
WHEREAS, by Indenture of Lease, dated November 16, 1972 and assigned December 5,
1986, Stillwater Realty Trust agreed to the lease by the Lessor of a lot of land located at
890 Hammond SL, Bangor, Maine; and
WHEREAS, Ardcle XIV, SUCCESSION AND ASSIGNABnXrY, of said Indenture of Lease
provides that the Lessee will not assign the lease without the written consent of the
Lessor.
NOW, THEREFORE, BE R ORDERED BY THE CITY COUNCIL OF THE CRY 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 Solicitor or
Assistant City Solicitor, approving the assignment to Stillwater Really, LLC of a lease
between the City of Bangor and Stillwater Realty Trust for a parcel of land at 890
Hammond St., Bangor, Maine.
IN Cin woecic
January to.zooa
Passed
ccs
00-73
ORDER
Tide, Adrhor]zing Approval of
consent to Rash hent Of cease
8% Ba®od street
Assigned to