Number
081303
Version
Original
Reference
Sponsor
The Chair
Title:
Resolution approving an amendment to the lease agreement with Kinder Morgan Bulk Terminal.
Analysis
This resolution would approve an amendment to lease agreement with Kinder Morgan Bulk Terminal retroactive July 1, 2008 and terminating on June 30, 2013.
Body
Whereas, Kinder Morgan Bulk Terminal (KMBT) has been a long term tenant in good standing in the Port of Milwaukee; and
Whereas, KMBT has an existing Master Lease with the Port of Milwaukee dated October 24, 1996, as amended, consisting of six (6) parcels; and
Whereas, The Board of Harbor Commissioners at their meeting of December 11, 2008 acted by vote of the Board to grant such Amendment to Lease for Parcel 1A consisting of 1 acre of property to be added to the existing Parcel 1, which currently consists of 2.6 acres and to be incorporated in the existing Master Lease dated October 24, 1996 under the same terms and conditions; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that said Common Council hereby ratifies and approves the amendment to lease agreement with Kinder Morgan Bulk Terminal and the City of Milwaukee, by and through its Board of Harbor Commissioners.
Drafter
Port of Milwaukee
ECR/dcl
1/6/09
i:kmbtlseamendparcel1accres.doc