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HomeMy WebLinkAbout2000-01-10 00-74 ORDERItem No. oo-va Date: January 10, 209 Item/Subject: ORDER, Authorizing Approval of Consent to Assignment of Lease -Dakin Park Stillwater Ave. Responsible Department: Community& Economic Development The City of Bangor is the owner of Dakin Park on Stillwater Avenue, a part of which is leased to Stillwater Realty Trust controlled by the Epstein family. The leased area is used for parking to support the office complex on the corner of Stillwater and Essex Street. The lease requires City consent to any assignment of the lease. In this case, ownership of the buildings is being transferred from Stillwater Realty Trust to Stillwater Realty, LLC, a different form of ownership (from a trust to a limited liability company). There are no substantive changes to the lease. No adverse impact on the City is anticipated. Staff recommends approval. Department Head Managers Commeatts: Recommend approval. Z City Manager Associated Information: Orel r finance Director X Passage First Reading Page_ of Referral .:•./ Aai@redw Coancil« Tardamte Ja xy 10, 2000 CITY OF BANGOR (TITLE.)Order, Autkoridug Approval aCoeaeat to Assignmeotof tease -Dakin Park I Stillwater Ave. WHEREAS, the Ory of Bangor Is the owner of Dakin Park, located in the City of Bangor, County of Penobscot, State of Maine; and WHEREAS, by Indenture of Lease, dated May 28, 1992, Stillwater Really Trust agreed to the lease by the Lessor of land located In Dadn Park, Stillwater Ave., Bangor, Maine; and WHEREAS, Article XIX, ASSIGNMENT, SALE AND SUBLETTING, of sad Indenture of Lease provides that the Lessee will rot assign the lease without the written consent of the Lessor. 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 Solicitor or Assistant City Solicitor, approving the assignment to Stillwater Really, LLC of a lease between the City of Bangor and Stillwater Really Trust for land located in Darin Party Stillwater Ave., Bangor, Maine. IL CITT WMML Jeauary 10. 2000 Passed C1 C1JOtg a 00-]4 ORDER TAlet AaNwrieiog Appfaval of Consent to Assignment of Lease - nakio Park/Stillwater Avenue ASSIgned to