NUMB:
991984
VERS:
Original
REF:
XXBY:
The Chair
TITL:
Resolution approving extension of Lease Agreement with Milwaukee Bulk Terminals, Inc. for .808 acres located on the Port's Inner Harbor. (Port of Milwaukee)
ANLS:
-Analysis-
This resolution would approve Extension of Lease Agreement dated November 16, 1989 with Milwaukee Bulk Terminals, Inc. for .808 acres, located on the Port's Inner Harbor to accommodate the Port's "dome based" bulk material customers.
BODY:
Resolved, By the Common Council of the City of Milwaukee that said Common Council hereby ratifies and approves the Extension of Lease Agreement dated November 16, 1989 between the City, by and through its Board of Harbor Commissioners, and Milwaukee Bulk Terminals, Inc. for lease of .808 acres of Port property located on the Port's Inner Harbor for the period 16 November 1999 through 15 November 2008 with Milwaukee Bulk Terminal having one five-year option period declarable by them for the period November 16, 2008 through November 15, 2013. Said option would be declared automatically unless Milwaukee Bulk Terminal gave written notices to cancel at least 180 days prior to the end of the new initial ten-year term; and, be it
Further Resolved, That the designated officers of said government and said Board are hereby authorized and directed to execute an agreement to carry out this purpose as prepared by the City Attorney's office.
DFTR:
3/20/2000
Port of Milwaukee
DCL
MW/I:MBTccres.doc