Number
151305
Version
SUBSTITUTE 1
Reference
010225
Sponsor
ALD. STAMPER
Title
Substitute resolution authorizing a replacement lease with Fondy Food Center, Inc. and authorizing the expenditure of funds to improve 2200 West Fond du Lac Avenue and satisfy water charges.
Analysis
This substitute resolution authorizes the City to enter into a replacement lease with Fondy Food Center, Inc. for it to operate a farmer’s market on a portion of 2200 West Fond du Lac Avenue, authorizes the expenditure of funds to correct code violations and improve the parcel and authorizes the write-off of water-related amounts that appear as a special charge on the parcel tax bill.
Body
Whereas, The City of Milwaukee (“City”), per Common Council File No. 010225, entered into a June 19, 2001 lease with Fondy Food Center, Inc. (“Fondy”) as tenant, under which: (i) the City leased to Fondy what was then 2200 West Fond du Lac Avenue, 2144-2148 West Fond du Lac Avenue, a portion of a vacated alley between those parcels and a portion of 2210-2224 West Fond du Lac Avenue; (ii) the term was to end on June 18, 2051, unless sooner terminated; (iii) rent was $1 per year and tenant was to pay all utilities and special charges and to repair and maintain the premises; (iv) Fondy was to operate an outdoor, open air, farmer’s market; and (v) Fondy was to spend roughly $4 million to develop the leased premises with a new 19,000 square-foot building, to be owned by the City, for use as a year-round, indoor food market and exhibition hall and to reconstruct and expand the outdoor farmer’s market for year-round use to include a commercial kitchen facility and business incubator facility; and
Whereas, Fondy is in breach under the Year 2001 existing lease because Fondy did not build the improvements and improve, as required, and Fondy failed to adequately maintain the parcel, such that numerous items now require repair, and Fondy failed to timely pay water charges, which escalated due to a broken...
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