Number
200589
Version
Original
Reference
Sponsor
Alderman Borkowski
Title
Resolution approving Lease Agreement with Michels Corporation.
Analysis
This resolution would approve Lease Agreement with Michels Corporation for two (2) parcels of real property comprised of 17.409 acres on Port Milwaukee’s Grand Trunk parcel.
BODY
Whereas, the base term of the lease will be twenty (20) years commencing July 1, 2021 and ending on June 30, 2041; and
Whereas, the lease can be extended for seven (7) successive periods of ten (10) years each, followed by one period of nine (9) years, ending at maximum on June 30, 2120; and
Whereas, the Tenant will be permitted to use Parcel 1 (“Lot 1”) for constructing and operating an office building, a dockside reception and a load out facility for loading, unloading and storing common construction aggregates, sheeting and other construction materials; and
Whereas, the Tenant will be permitted to use Parcel 2 (“Lot 3”) for constructing and operating an employee office and collaborative work space as well as a storage yard for common construction aggregate materials, sheeting and other construction materials; and
Whereas, The Board of Harbor Commissioners at their meeting of August 6, 2020 acted by unanimous vote of the Board to grant such Lease Agreement; 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 Michels Corporation and the City of Milwaukee, by and through its Board of Harbor Commissioners; 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
Adam Tindall-Schlicht
Michelslse17.409acresGTSccres.doc