Number
121297
Version
Substitute 1
Reference
Sponsor
THE CHAIR
Title
A substitute ordinance granting an air space lease to Georgetown LLC for a portion of street facade along North Prospect Avenue and along East Ivanhoe Place.
Analysis
In accordance with state law, this ordinance will grant an airspace lease to Georgetown, LLC for the purpose of constructing and maintaining an overhang structure over the sidewalk area along East Ivanhoe Place and along North Prospect Avenue adjacent to property with the address 2217 N. Prospect Avenue.
Body
The Mayor and Common Council of the City of Milwaukee do ordain as follows:
Part 1: FINDINGS. In accordance with the provisions of s. 66.0915(4), Wis. Stats., (2011-2012), the Common Council of the City of Milwaukee hereby authorizes, directs and agrees that the City of Milwaukee enter into a lease, substantially the same as the lease attached hereto, with Georgetown, LLC for the purpose of enabling Georgetown, LLC to construct and maintain a building overhang extending over the sidewalk area along East Ivanhoe Place and along North Prospect Avenue adjacent to the premises at 2217 N. Prospect Avenue, as described in the lease, and the Common Council of the City of Milwaukee hereby finds that the area described in the lease is not needed for street, alley or other public purposes and that the public interest will be served by promoting development of the East Side neighborhood.
Part 2. Attached and made part of the Common Council File No. 121297 is a copy of such lease in substantially the same form as the lease that will be signed.
Part 3: All ordinances or parts of ordinances contravening the provisions of this ordinance are hereby repealed.
Part 4. The Department of City Development, through its real estate section, shall process, with City department funds, the recording of this ordinance with the Milwaukee County Register of Deeds and shall forward the recording information complete with a final copy...
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