NUMB:
972011
VERS:
SUBSTITUTE 1
REF:
XXBY:
ALD. HENNINGSEN
TITL:
Substitute resolution authorizing the proper City officials to execute a Termination of Agreement Respecting Reserve Site and other documents concerning developments affected by the Deed and Declaration and the Restated Prime Public Concourses Lease and Maintenance Agreement for the Grand Avenue Retail Center.
ANLS:
- Analysis -
This substitute resolution will permit the development of the Courtyard by Marriott Hotel Project on the Reserve Site, which is located between West Michigan Avenue, the southern entrance of the Grand Avenue Retail Center, the City-owned Grand Avenue Parking Structures, and the Boston Store. This resolution also approves alterations to the John Plankinton Building skylight to permit the development of the YMCA facility on the fourth floor of the John Plankinton Building.
BODY:
Whereas, The City of Milwaukee ("City") is a third party beneficiary to the July 12, 1982, Agreement Respecting Reserve Site; and
Whereas, The City is a participant in the Deed and Declaration dated July 1, 1982, in connection with the Grand Avenue Retail Center; and
Whereas, The Reserve Site Joint Venture desires to sell the Reserve Site to an entity that wishes to develop a 169-room Courtyard by Marriott Hotel; and
Whereas, To permit the development of a hotel on the Reserve Site, the City must consent to the termination of the July 12, 1982, Agreement Respecting Reserve Site and consent to the modifications to the southern entrance to the Grand Avenue Retail Center under the July 1, 1982, Deed and Declaration; and
Whereas, The YMCA of Metropolitan Milwaukee, Inc. intends to develop a facility on the fourth floor of the John Plankinton Building; and
Whereas, The development of this facility requires a slight modification to the existing skylight of the building; and
Whereas, The modification of the skylight requires the consent of the City under the Restated Prime Public Concourses Lease and Maintenance Agreement; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee that the proper City officials are authorized and directed to enter into the Termination Agreement Respecting Reserve Site; and, be it
Further Resolved, That the proper City officials are authorized and directed to enter into a Consent Agreement under the July 1, 1982, Deed and Declaration Agreement for the reconfiguration of the Grand Avenue's southern entrance as is contemplated by the Courtyard by Marriott Hotel Project; and, be it
Further Resolved, That the proper City officials are authorized and directed to provide consent under the Restated Prime Public Concourses Lease and Maintenance Agreement and the Deed and Declaration to the modifications of the John Plankinton Building skylight that will permit the development of the YMCA facility.
ZDPT:
DFTR:
DCD:DM:gew
06/03/98