Number
201048
Version
SUBSTITUTE 1
Reference
Sponsor
THE CHAIR
Title
Substitute resolution approving an amendment to sublease agreement with Wgema Leasing, LLC, for the property located at 3215 W. State Street.
Analysis
This resolution approves an amendment to a sublease agreement between the City and Wgema Leasing, LLC, for a portion of the building located at 3215 W. State Street, to reduce the amount of space rented to the City and the amount of rent paid by the City over a four-year period from $507,412.89 to $225,025.87.
Body
Whereas, The City and Wgema Leasing, LLC, entered a sublease agreement for a portion of the building located at 3215 W. State Street; and
Whereas, The City and Wgema Leasing, LLC, wish to amend the sublease agreement to reduce both the amount of square feet rented to the City and the amount of rent the City shall pay over a four-year period from $507,412.89 to $225,025.87; and
Whereas, The Police Department, in conjunction with the City Attorney’s Office, has negotiated an amendment to the sublease agreement; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the amended sublease agreement, identified as the “First Amendment to Sublease,” between the City and Wgema Leasing, LLC, for a portion of the building located at 3215 W. State Street, is approved; and, be it
Further Resolved, That the Chief of Police, or the Chief’s designee, and proper City officials are authorized to enter into this agreement, a copy of which is attached to this file, on behalf of the City.
Requestor
Police Department
Drafter
LRB 176421-2
Tea B. Norfolk
11/17/2020