Number
260426
Version
ORIGINAL
Reference
Sponsor
ALD. PRATT
Title
Resolution authorizing an exclusive right to negotiate with U.S. Venture, Inc. for the City-owned parcel at 1776 South Harbor Drive - Parcel F at Port Milwaukee, in the 14th Aldermanic District.
Analysis
This resolution authorizes Port Milwaukee to issue a two-year Exclusive Right to Negotiate letter for 1776 South Harbor Drive - Parcel F to U.S. Venture, Inc. allowing them to evaluate new investment opportunities and facility improvements before entering into a long-term lease.
Body
Whereas, Port Milwaukee has been marketing the 3.5-acre parcel at 1776 South Harbor Drive - Parcel F for a maritime-related commercial use; and
Whereas, U.S. Venture, Inc. is a Wisconsin-based company that has been a tenant at Port Milwaukee since 2014 and is currently leasing parcels totaling 13.12-acres immediately north and east of Parcel F; and
Whereas, U.S. Venture, Inc.’s facility consists of bulk liquid storage and infrastructure to move light petroleum products, biodiesel and ethanol to trucks, rail, and barge; and
Whereas, U.S. Venture, Inc. is exploring opportunities to invest in new equipment, storage capacity, and personnel. Increased use of their Milwaukee facility would result in a long-term lease and an increase in wharfage fees; and
Whereas, U.S. Venture Inc.’s prior lease for this location included a right of first refusal with respect to Parcel F; however, that right was not carried forward into the current lease and in light of U.S. Venture’s long-standing tenancy and adjacent operations, granting an Exclusive Right to Negotiate for Parcel F is appropriate and provides U.S. Venture a reasonable opportunity to evaluate and advance potential investment in the site; and
Whereas, During the exclusivity period, the parties will negotiate in good faith toward a lease, and Port Milwaukee will agree not to solicit, entertain, or engage in discussions or negotiations with any third party regarding the sale, lease, or development of Parcel F; and
Whereas, U.S. Venture, Inc. will provide $5,000/year to retain the exclusive right to negotiate; and
Whereas, The Board of Harbor Commissioners approved the Exclusive Right to Negotiate at their meeting on June 11, 2026; now, therefore, be it
Resolved, That after the negotiation period, Port Milwaukee will specify the terms of the lease, a lease rate, and development details in the Land Disposition Report, Due Diligence Checklist, development agreement(s), and other necessary documents that will require approval from the Board of Harbor Commissioners, the Common Council’s Public Works Committee, and the full Common Council; now, therefore, be it
Further Resolved, The Port Director or his designee is authorized to issue to the U.S. Venture, Inc. an Exclusive Right to Negotiate for a period of two (2) years from the date the Common Council resolution is certified.
Drafter
Port Milwaukee
Benjamin Timm
07/06/2026