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Council approves successor Lakes Business Park agreement with Gilford
Summary
The council approved a successor intermunicipal agreement with the Town of Gilford covering the Lakes Business Park, noting a termination-date change for Gilford and a clause capping shared fiscal responsibility for capital over $1 million; approval was unanimous.
The City Council voted 6-0 to approve a successor intermunicipal agreement with the Town of Gilford governing the Lakes Business Park (Hounsell Avenue area). Manager Kirk Beattie summarized key changes, including amending a termination clause (Gilford’s termination in 2040 rather than 2050) and adding a provision that relieves the city of shared fiscal responsibility for capital costs exceeding $1 million.
Councilor Hoffman said he welcomed the clause limiting fiscal exposure. The motion authorized the City Manager to sign all related documents; councilors asked staff to check signage at the corner referenced by Councilor Bogert as a minor follow-up item. The agreement and draft successor document were attached to the meeting agenda.
