UMS advances modified long-term lease with MD7 LLC
University Of Southern MaineHigher Ed · Portland, ME- Disclosed value
- $1,450.00 per month; approximately $480,700 over 25 years
- From minutes
- Document date
- May 4, 2022
- Renews
- Free account
The 30-second brief
The committee recommended that the University of Maine System, through UM, enter into a modified five‑year lease with MD7, LLC for ground and roof space at Torrey Hall on the Machias campus at $1,450 per month, with 5% rent escalations every term and four additional five‑year renewal options, yielding about $480,700 in revenue over 25 years. Final lease terms will be reviewed by the System Treasurer and General Counsel before Board approval.
Md7 LLC holds this facilities contract with University Of Southern Maine. Its other public contracts on record include work for Brazoria County Mud 2 and City of Henderson.
The renewal date is on record. A free account shows it, with the renewals for every University Of Southern Maine contract.
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Contract details
- Contract type
- Facilities
- Amount
- $1,450.00 per month; approximately $480,700 over 25 years
- Document date
- May 4, 2022
- Term
- Initial five (5) year lease beginning May 1, 2022 with options for four (4) additional five (5) year renewals (total potential 25 years); current lease term February 1, 2019 – January 31, 2024
- Renews
- Free account
- Vendor
- Md7 LLC
- Source document
- university-of-southern-maine-finance-facilities-technology-committee-meeting-minutes-may-4-2022_539.md (Minutes)
Md7 LLC's other public contracts
More University Of Southern Maine contracts
Questions about this contract
Who was awarded the facilities contract by University Of Southern Maine?
Md7 LLC was awarded this facilities contract by University Of Southern Maine, as recorded on May 4, 2022. The contract value is $1,450.00 per month; approximately $480,700 over 25 years.
How much is the Md7 LLC contract with University Of Southern Maine worth?
The Md7 LLC contract with University Of Southern Maine is valued at $1,450.00 per month; approximately $480,700 over 25 years, covering facilities work.
What type of contract is this?
This is a Facilities contract, documented as a minutes record.
Where was this contract approved?
This contract appears in university-of-southern-maine-finance-facilities-technology-committee-meeting-minutes-may-4-2022_539.md (Minutes), dated May 4, 2022 from University Of Southern Maine. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does Md7 LLC hold?
Md7 LLC may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.
What is University Of Southern Maine currently buying?
Explore University Of Southern Maine's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.