WINSLOW — The Town Council will swear in newly elected and re-elected officials and vote on whether to allow the town manager to sign an agreement with the owner of a building in the Winslow Industrial Park and a bank.

The council will hold its first meeting of the year on Tuesday at noon at the Town Office.

Town Manager Michael Heavener is asking the council to vote on a resolution that would allow him to sign a ground lease estoppel certificate and agreement with Wunderlich-Malec, which owns the building, and Venture Bank.

Minnesota-based Wunderlich-Malec is consolidating its loans and assets, Heavener said, and one of the assets is the building it owns in the park on property it leases from the town. If something should happen that leaves the company unable to pay its debt, the agreement allows Venture Bank to take over the business. The agreement also takes away any risk to the town, Heavener said.

Wunderlich-Malec, an engineering firm, signed a 20-year lease for a small parcel of land owned by the town in July 2015. The additional land was needed for a planned $3 million expansion. Because the parcel was a non-conforming lot, the town couldn’t sell it, but could lease it to the company.

The Town Council will also swear in Ken Fletcher, who was re-elected to his position this year, and Jeffrey West, who was elected for the first time in November.

In other business, the council will vote on the place and time for regular meetings and will also set a stipend for regular meetings councilors attend. Heavener said the council historically hasn’t changed the day or time of the meetings, and that the councilors haven’t voted to increase their stipends in a few years.

Madeline St. Amour — 861-9239

[email protected]

Twitter: @madelinestamour

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