City of Milwaukee - File #: 011733

• File #: 011733
• Version: 1
• Type: Resolution
• Status: Passed
• File created: 3/26/2002
• In control: PUBLIC WORKS COMMITTEE
• Final action: 4/23/2002
• Title: Substitute resolution approving an agreement to transfer the City's interest in the Captain Frederick Pabst Theater.
• Sponsors: THE CHAIR
• Indexes: AGREEMENTS, CITY PROPERTY, PABST THEATER

Date	Ver.	Action By	Action	Result	Tally
5/1/2002	1	MAYOR	SIGNED
4/23/2002	1	COMMON COUNCIL	ADOPTED; Minutes note: Ald. Pawlinski moved to offer a substitute agreement for consideration in lieu of the agreement attached to Common Council File Number 011733, being a resolution approving an agreement to transfer the City's interest in the Captain Frederick Pabst Theater. The motion prevailed. Ald. Pawlinski moved for adoption of File Number 011733 approving the agreement as substituted. The motion prevailed.	Pass	17:0
4/10/2002	1	PUBLIC WORKS COMMITTEE	RECOMMENDED FOR ADOPTION	Pass	5:0
4/9/2002	1	CITY CLERK	DRAFT SUBMITTED
4/4/2002	0	PUBLIC WORKS COMMITTEE	HEARING NOTICES SENT
4/3/2002		PUBLIC WORKS COMMITTEE	REFERRED TO; Minutes note: ASAP please !
3/26/2002	0	COMMON COUNCIL	ASSIGNED TO

Number
011733
Version
SUBSTITUTE 1
Reference

Sponsor
THE CHAIR
Title
Substitute resolution approving an agreement to transfer the City's interest in the Captain Frederick Pabst Theater.
Analysis
This resolution approves a Transfer Agreement by and among the City of Milwaukee, the Board of the Captain Frederick Pabst Theater ("Board") and the Cudahy Foundation ("Transferee"). Under the terms of the Transfer Agreement, all the City and the Board's interest in the Captain Frederick Pabst Theater will be transferred to the Cudahy Foundation for $1.00 and the commitment by the Transferee to observe all the terms and conditions of the Transfer Agreement. Those conditions include a commitment that the facility will not be used for other than Theater purposes without the City's consent. The City will also have a right for a ten year period to repurchase the Theater Premises if the Transferee elects to convey the Theater Premises. The repurchase price would be $1.00 plus the depreciated value of any capital improvements made to the Theater by the Transferee. The Transferee commits to making reasonable efforts to ensure that the Theater Premises is made available to performing arts groups and artists who have substantial ties to the Milwaukee community and who represent the diversity of the Milwaukee community. The Transferee commits to an 18% DBE procurement goal with regard to its discretionary spending. The Transferee further commits not to change the name of the Theater without the City's consent and commits to operate the Theater in a fashion consistent with the needs of the facility and in a manner that would maintain both its historic appearance and the function of the facility for future generations of Milwaukee area residents. Finally, the Transferee commits to honor all naming rights. The only aspect of the City's ownership interest that will not be immediately transferred relates to the leasehold interest in the Renovation Project u...