Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Northgate Redevelopment topic
No spam. Unsubscribe anytime.
Skowhegan EDC sets flat rent for Northgate, seeks contractor bids and approves short-term CD move
Summary
The board set a flat $4.75/sq ft lease rate for the Northgate building with five-year lease extensions, discussed space for a Maine Wood Heat powder-coating operation, authorized investigation of a $200,000 short-term CD, and heard a board resignation.
The Skowhegan Economic Development Corporation on April 14 approved a series of items intended to support commercial tenants and prepare the Northgate building for repairs and expansion.
Scott Barden of Maine Wood Heat told the board he needs roughly 3,000 to 5,000 square feet at Northgate to install a powder-coating finishing operation rather than send parts to Auburn. He emphasized requirements for ventilation, safety, storage and a multi-year lease to support equipment investments. The board discussed code compliance, tenant responsibility for equipment standards, and the importance of a loading dock for operations.
Board members debated rent structures before voting to set a flat lease rate of $4.75 per square foot for Northgate and to amend current leases with a five-year extension. Treasurer Donna McGorty moved the measure; it was seconded by Patric Moore and passed. The minutes record board concern that any new rate should cover maintenance costs including sprinkler upgrades and roof repairs; members also discussed pursuing a construction loan and soliciting at least five local contractor bids once a scope is finalized.
To manage operating cash, the board authorized Treasurer Donna McGorty to investigate transferring $200,000 from the Bangor Savings Bank checking account into a five- to seven-month certificate of deposit at the highest available rate. The motion was moved by Reid Gibson, seconded by Christian Savage; the motion passed and the minutes record Savage as abstaining due to a perceived financial conflict.
During the meeting Patric Moore announced his resignation from the board because he will no longer work for Main Street Skowhegan. Reid Gibson and Patric Moore left the meeting at 10:25 a.m. The board set the next regular meeting for May 4 at 8:00 a.m. and approved routine minutes and financial statements.
