Number
041526
Version
Original
Reference
Sponsor
The Chair
Title
Resolution approving Lease Agreement with Milwaukee Intermodal Terminal, LLC. (Port of Milwaukee)
Analysis
This resolution would approve Lease Agreement with Milwaukee Intermodal Terminal, LLC for use of the Container Yard and approximately 3,300 square feet of office space in the building located at 1225 S. Carferry Drive on the South Harbor Tract, for use as an intermodal terminal, receiving, shipping, storing and handling containers, and for the operation of trucking enterprises.
BODY
Whereas, The Lease term is one year, commencing on 1 January 2005 and terminating on 31 December 2005, with an automatic extension of one (1) additional year at a rental of $5.00 per unit or container on flat car and $2.50 per unit of trailer on flat car received or delivered by rail, on the basis of a minimum of 7,500 COFC units per year; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that said Common Council hereby ratifies and approves the Lease Agreement between the City of Milwaukee, by and through its Board of Harbor Commissioners and Milwaukee Intermodal Terminal, LLC; and, be it
Further Resolved, That the designated officers of said government and of said Board of Harbor Commissioners are hereby authorized and directed to execute an agreement to carry out this purpose, as approved by the City Attorney's office.
Drafter:
Port of Milwaukee
DCL
mw/i:mitcntnryardlse05ccres.doc
1/25/05