Number
250986
Version
ORIGINAL
Reference
150899
Sponsor
THE CHAIR
Title
Resolution approving a first amendment to the lease agreement with TowerCo 2013 LLC for a portion of the parcel located at 3929 S. 6th Street, in the 13th Aldermanic District.
Analysis
This resolution amends a lease agreement with TowerCo 2013 LLC for a portion of the parcel located at 3929 S. 6th Street (Milwaukee Water Works facility known as the Howard Avenue Water Treatment Plant), which was authorized by Common Council Resolution File Number 150899 and adopted on November 2, 2015.
Body
Whereas, The Common Council adopted Resolution File Number 150899 on November 2, 2015 approving a lease agreement with New Cingular Wireless PCS, LLC for for a portion of the parcel located at 3929 S. 6th Street; and
Whereas, pursuant to the terms of the lease agreement, New Cingular Wireless PCS, LLC assigned its lease interest to TowerCo 2013 LLC on March 16, 2016; and
Whereas, The Department of Administration, working with the City Attorney's Office, has negotiated a first amendment to the lease agreement; and
Whereas, This amendment of the lease agreement between the City and TowerCo 2013 LLC for a portion of the parcel located at 3929 S. 6th Street, extends the term of the lease until June 30, 2030 and provides TowerCo 2013 LLC six (6) additional five (5) year renewal terms; and
Whereas, The lease agreement offers a fair market value to the City, protects other City interests, and is acceptable to all City participants; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the Common Council approves and amends the lease agreement, identified as the "First Amendment to Land Lease Agreement," between the City of Milwaukee and TowerCo 2013 LLC for a portion of the parcel located at 3929 S. 6th Street; and, be it
Further Resolved, the Common Council authorizes the proper City officials to enter into this lease amendment on behalf of the City of Milwaukee, i...
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