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