Number
231343
Version
SUBSTITUTE 1
Reference
Sponsor
THE CHAIR
Title
Substitute ordinance granting an airspace lease to Northwestern Mutual for a building overhang over North Marshall Street
Analysis
In accordance with state law, this ordinance will grant an airspace lease to Northwestern Mutual for the purpose of constructing and maintaining a building overhang over North Marshall Street at 818 East Mason Street in the City of Milwaukee, 4th Aldermanic District.
Body
The Mayor and Common Council of the City of Milwaukee do ordain as follows:
Part 1: FINDINGS. In accordance with the provisions of sec. 66.0915(4), Wis. Stats., (2021-2022), the Common Council of the City of Milwaukee hereby authorizes, directs and agrees that the City of Milwaukee, through the proper city officers, enter into an airspace lease with Northwestern Mutual for a term of 99 years for the purpose of allowing Lessee to construct and maintain a building overhang over North Marshall Street at 818 East Mason Street, as described in the lease, and the Common Council of the City of Milwaukee hereby finds that the area described in the lease is not needed for street, alley or other public purposes and that the public interest will be served inasmuch as the leasing of the airspace will promote the development of the downtown.
Part 2. Attached and made part of Common Council File No. 231343 is a copy of such lease in substantially the same form as the lease that will be signed.
Part 3. All ordinances or parts of ordinances contravening the provisions of this ordinance are hereby repealed.
Part 4. The Department of City Development, through its real estate section, shall process, at the expense of the Lessee, the recording of this ordinance and the executed lease with the Milwaukee County Register of Deeds and shall forward the recording information complete with a final copy of the ordinance and lease to the City Engineer and the City Comptroller.
Part 5. This ordinance shall take...
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