Number
181212
Version
Original
Reference
Sponsor
ALD. BORKOWSKI
Title
Resolution approving a Lease Agreement with Portland Trucking, Inc.
Analysis
This resolution would approve Lease Agreement with Portland Trucking, Inc. for 0.77 acres located on Port Milwaukee’s South Harbor Tract.
BODY
Whereas, Portland Trucking, Inc. and Port Milwaukee have agreed to an initial ten (10)-year lease term commencing January 1, 2019 and terminating on December 31, 2028 for the purpose of operating a trucking operation; and
Whereas, the term of the lease may be extended automatically for two successive periods of five (5) years thereafter; and
Whereas, tenant shall pay a base rent of $30,800 per year, paid quarterly in arrears on January 1, April 1, July 1, and October 1.
Whereas, the Board of Harbor Commissioners at their meeting of November 16, 2018 acted by vote of the Board to grant such Lease Agreement; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee that said Common Council hereby ratifies and approves the Lease Agreement between Portland Trucking, Inc. and the City of Milwaukee, by and through its Board of Harbor Commissioners for the period of January 1, 2019 through December 30, 2028; and, be it
Further Resolved, That the designated officers of said government and of said Board of Harbor Commissioners are hereby authorized and directed to execute an agreement to carry out this purpose, as prepared by the City Attorney's office.
Drafter:
Port Milwaukee
Adam Schlicht
11/16/18