Meetings / Nov 18, 2016 / Item 52

Item 52

approved lease late item

Nov 18, 2016

Description

Authorize to sell NHES properties located at 300 Hanover Street and 436 Maple Street, Manchester, NH, to 300 Hanover Street LLC, for a combined total of $1,250,000 plus an additional $1,100 as an administrative fee. Effective upon G&C approval. (2)Further authorize NHES to pay 3% of the gross proceeds from the sale of 300 Hanover Street and 6% of the gross proceeds from the sale of 436 Maple Street, Manchester, NH to The Norwood Group Inc, Bedford NH, as its commission for real estate brokerage and marketing services provided with respect to the Properties pursuant to the terms of an Exclusive Listing Agreement dated June 24, 2016. Effective upon G&C approval. (3)Further authorize to enter into a lease agreement with the Buyer to lease back 8,615 square feet of office space in 300 Hanover Street, Manchester, NH, along with related common area, at a cost of $172,308 annually. The total cost of the agreement shall not exceed $861,540. Effective January 1, 2017 through December 30, 2021.

Amount
$1.2M
$1,250,000, $1,100, $172,308, $861,540
Funding Source
3% of the gross proceeds from the sale of; 6% of the gross proceeds from the sale of
Vote Record approved
Joseph Kenney (R) yes
Colin Van Ostern (D) yes
Christopher Sununu (R) yes
Christopher Pappas (D) yes
Dave Wheeler (R) yes

Documents (1)

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