2025-192 Bank of America/514 Thames Street – Amendment to License Agreement

RESOLUTION

OF THE
COUNCIL
No.2025-192

WHEREAS, The Newport Police Department South End Community Police Station currently occupies the Bank of America building, located at 514 Thames Street, formerly known as the Fleet Bank ATM building, per agreement between parties dated December 15, 1999, with provided use of this location for more than 25 years at no cost to the City of Newport; and

WHEREAS, Bank of America has recently informed the City that the building is in need of certain repairs, including a new heating system and sewer line, also indicating an amendment to the agreement is now required with an addition of an associated monthly license fee of one thousand dollars ($1,000/mo. Rent), requiring that the City fund the repairs of replacing the heating system and sewer line; NOW THEREFORE BE IT

RESOLVED: that in order to maintain this valuable asset in the City's South End for continued public safety services to our community, this project be funded from the CIP reserve in the amount of fifty thousand dollars ($50,000), with the remaining balance funded through committed fund balance, not to exceed a total project cost of eighty thousand dollars ($80,000); AND BE IT FURTHER

RESOLVED: that this agreement is hereby approved, and the Council Chair is authorized to enter into such License Agreement Amendment on behalf of the City, subject to review and approval of the document by the City Solicitor.

IN COUNCIL
READ AND PASSED
DECEMBER 10, 2025

LAURA C. SWISTAK, CMC
CITY CLERK