NUMB:
971460
VERS:
Original
REF:
XXBY:
THE CHAIR
TITL:
Resolution approving Lease Agreement with Milwaukee Intermodal Terminal, LLC, a Wisconsin Limited Liability Company (Port)
ANLS
-Analysis- This resolution would approve Lease Agreement with Milwaukee Intermodal Terminal, LLC, a Wisconsin Limited Liability Company for use of the Container Yard and approximately 3,300 square feet of office space in the building located at 1225 S. Carferry Drive on the South Harbor Tract.
BODY:
Whereas, The Board of Harbor Commissioners has approved a Lease Agreement with Milwaukee Intermodal Terminal, LLC, a Wisconsin Limited Liability Company for use of the Container Yard and approximately 3,300 square feet of office space in the building located at 1225 S. Carferry Drive on the South Harbor Tract, City of Milwaukee, for use as an intermodal terminal, receiving, shipping, storing and handling containers, and for the operation of trucking enterprises; and
Whereas, The Lease term is four years, commencing on 1 January 1998 and terminating on 21 December 2001, with an automatic extension of one (1) additional year at a rental of $4.75 per unit or container on flat car and $2.25 per unit of trailer on flat car received or delivered by rail, on the basis of a minimum of 15,000 COFC units per year; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee that said Common Council hereby ratifies and approves the Lease Agreement between the City of Milwaukee, by and through its Board of Harbor Commissioners and Milwaukee Intermodal Terminal, LLC; and be it,
Further Resolved, That the designated officers of City Government and of said Board are hereby authorized and directed to execute an agreement to carry out this purpose as prepared by the City Attorney's office.
DFTR:
Port of Milwaukee
11/26/97
RAC