Number
041713
Version
Original
Reference
Sponsor
The Chair
Title
Resolution approving Lease Agreement with North American Salt Company. (Port of Milwaukee)
Analysis
This resolution would approve Lease Agreement with North American Salt Company for seven (7) parcels of land totaling 10.214 acres located on the Port's South Harbor Tract.
BODY
Whereas, North American Salt Company has been a long term tenant in good standing with the Port of Milwaukee and has an existing Lease dated March 4, 1985; and
Whereas, The existing Lease will expire on March 31, 2005 and both parties to the Lease have agreed to an additional 20-year term extending to March 31, 2025 with cancel provisions by either party at 5-year increments; and
Whereas, The Board of Harbor Commissioners at their meeting of March 4, 2005 acted by vote of the Board to grant such Agreement; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that said Common Council hereby and approves the Lease Agreement between North American Salt Company and the City of Milwaukee, by and through its Board of Harbor Commissioners for the period of April 1, 2005 through March 31, 2025; and, be it
Further Resolved, That the designated officers of said government and of said Board of Harbor Commissioners are hereby authorized and directed to execute an agreement to carry out this purpose, as prepared by the City Attorney's office.
Drafter:
Port of Milwaukee
DCL
3/11/05
e05ccres.doc