City of Milwaukee - File #: 141760

• File #: 141760
• Version: 1
• Type: Resolution
• Status: Passed
• File created: 3/3/2015
• In control: COMMON COUNCIL
• Final action: 3/31/2015
• Title: Substitute resolution approving leases for Building 36 at the Century City Business Park, in the 7th Aldermanic District.
• Sponsors: ALD. WADE
• Indexes: LEASES, REDEVELOPMENT, URBAN

Date	Ver.	Action By	Action	Result	Tally
4/2/2015	1	MAYOR	SIGNED
3/31/2015	1	COMMON COUNCIL	ADOPTED	Pass	15:0
3/24/2015	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	RECOMMENDED FOR ADOPTION; Minutes note: Individuals appearing: Gregg Hagopian, Assistant City Attorney Benjamin Timm, Department of City Development Mark Beasly, Benson Industries, Inc.	Pass	5:0
3/19/2015	1	CITY CLERK	DRAFT SUBMITTED
3/18/2015	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
3/3/2015	0	COMMON COUNCIL	ASSIGNED TO

Number
141760
Version
SUBSTITUTE 1
Reference
091516, 110082, 110138, 120638, 140370
Sponsor
ALD. WADE
Title
Substitute resolution approving leases for Building 36 at the Century City Business Park, in the 7th Aldermanic District.
Analysis
This substitute resolution authorizes the Century City Redevelopment Corporation, owner of the property at 3533 North 27th Street, to enter into a lease with Benson Industries, Inc. and a restated lease with Talgo, Inc. for portions of Building 36 at the Century City Business Park.
Body
Whereas, The Redevelopment Authority of the City of Milwaukee (“RACM”) entered into a lease with Talgo, Inc. (“Talgo”) dated August 5, 2010 (the “Lease”), via Common Council File No. 091516 and RACM Resolution No. 10184, pursuant to which RACM leased to Talgo a part of what was then known as 3533 North 27th Street, Tax Key No. 269-9993-110-2 (as called in the Lease, the “3533 Parcel”) and a part of 3424 North 27th Street, Tax Key No. 285-1724-111-5 (as called in the Lease, the “3424 Parcel”); and

Whereas, After recording the Lease, as contemplated by Lease Paragraph 2 and Paragraph 4(a), Certified Survey Map No. 8363 (the “CSM”), concerning division of the 3533 Parcel, was approved via Common Council File No. 110138, and the CSM was recorded with the Register of Deeds - Lot 2 of the CSM kept the 3533 North 27th Street address, but a new tax key number was assigned to Lot 2, being 269-0442-000; and

Whereas, RACM and Talgo entered into “Amendment One to Talgo Lease Agreement” as of October 3, 2011, also as contemplated by the Lease, to acknowledge the CSM recording and to reflect the CSM description; and

Whereas, By Warranty Deed dated as of October 14, 2011, RACM conveyed to the Century City Redevelopment Corporation (“CCRC”) Lot 2 of the CSM, via Common Council File No. 110082, and CCRC now owns Lot 2 of the CSM; and

Whereas, RACM’s interest in the Talgo Lease was assigned to CCRC by an “Assignment and Assumption of Lease” document...