Number
120119
Version
Original
Reference
Sponsor
Ald. Bauman
Title
Resolution approving an Assignment of Lease Agreement and Consent to Assignment among the Board of Harbor Commissioners, the Edward E. Gillen Co. and Gillen Foundations Inc.
Analysis
This resolution would approve Assignment of Lease Agreement and Consent to Assignment among the Board of Harbor Commissioners, the Edward E. Gillen Co. and Gillen Foundations Inc. for 1.15 acres of property located at 1801 South Carferry Drive; and
Body
Whereas, Edward E. Gillen Company has been a long term tenant in good standing at the Port of Milwaukee; and
Whereas, Edward E. Gillen Company and the Port of Milwaukee have agreed to the Assignment of Lease Agreement and Consent to Assignment among the Board of Harbor Commissioners, the Edward E. Gillen Co. and Gillen Foundations Inc. commencing February 13, 2012 through December 31, 2036; and
Whereas, The Lease Assignment to Gillen Foundations, Inc. will be guaranteed by Michels Corporation; and
Whereas, The Board of Harbor Commissioners at their meeting of April 19, 2012 acted by vote to grant such Assignment and Consent to Assignment; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee that said Common Council hereby ratifies and approves the Assignment of Lease Agreement and Consent to Assignment among the Board of Harbor Commissioners, the Edward E. Gillen Co. and Gillen Foundations Inc. for the period of February 13, 2012 through December 31, 2036; 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.
Drafter:
Port of Milwaukee
Eric C. Reinelt
5/14/2012
i:gillenfoundlse1.15ccres.doc