A new lease agreement will keep a nationally recognized manufacturer and local small business in Camdenton for the next decade.

A new lease agreement will keep a nationally recognized manufacturer and local small business in Camdenton for the next decade.

On December 5, the Camdenton Board of Aldermen approved a second lease agreement with Fiberglass Tank Solutions LLC to continue leasing 3.64 acres of land off Highway 7, including the city-owned Galva Foam building.

Aldermen first approved a lease in April of 2014 with options to extend until 2019 on the property located within Camdenton’s industrial park and adjacent to Camdenton Memorial Lake Regional Airport.

Since then, the business that manufactures wet wells, valve vaults, rehab inserts, oil field production tanks, and above-ground fiberglass tanks has grown from five full-time employees to a dozen with plans to add another, according to City Administrator Jeff Hancock. According to the company’s website, installation projects have been designed and completed all across the United States.

“This lease arrangement has proved beneficial to both the city and the growth of the company,” Hancock wrote in a recent report. “At the time of the (original) lease, the lease called for $46,394 in improvements to the building… In addition the company was to pay the City $9,980 per year.”

According to the new agreement, the business has agreed to a term of 10 years that includes an upfront payment of $30,000 as well as yearly rental rate of $10,000 which would increase annually, according to the Consumer Price Index (CPI). Fiberglass Tank Solutions LLC will also pay for all insurance and utilities related to the property.

“This company has proven to be a success. We had a building that was vacant and Mr. Hawthorn came in and put in substantial improvements,” Hancock said. “He’s up to 12 employees, and we’ve put in the requirement of eight. We’re pleased with this agreement from the standpoint that he’s going to be pay $30,000 up front and then it’s a little more than $10,000 a year with the CPI factor.”

Alderwomen Sandy Osborn said she wanted to make sure the city had a copy of a report detailing the chemicals used and stored at the 16,000-square foot facility.

“I just want to make sure they’re not using any kind of solvents in their processes there,” she said. “So we have a copy from them on file.”

Hancock said a copy of that report is available at Mid-County Fire Protection District which would be in charge of regulating the permitting, but added that he didn’t believe any hazardous materials were being used. Though he said he would check and get back to the alderwoman.