Number
001662
Version
SUBSTITUTE 1
Reference
Sponsor
THE CHAIR
Title
A substitute charter ordinance relating to the Captain Frederick Pabst theater board.
Sections
16-12-4 rc
Analysis
This charter ordinance amends the provisions of the city charter relating to the ownership of the property controlled by the Captain Frederick Pabst theater board. As permitted by 1999 WisAct 112, this charter ordinance authorizes the board to transfer the property to any other party, private or public. If the property is transferred to a private, for-profit entity, the city must receive fair market compensation for it. Further, the entity to which the property is transferred must assume responsibility for all contracts in place at the time of the transfer. Any transfer must be approved by the common council. This ordinance also repeals a current provision of the charter prohibiting the board from transferring the theater to Milwaukee county.
Body
The Mayor and Common Council of the City of Milwaukee do ordain as follows:
Part 1. Section 16-12-4 of the charter is repealed and recreated to read:
16-12. Captain Frederick Pabst Theater Board.
4. PROPERTY. a. Title to all property, real or personal, of the theater may be in the name of the city of Milwaukee and may be held by the city of Milwaukee perpetually for such purposes, but the board shall determine the use to which the property shall be devoted under this section.
b. Subject to the approval of the common council, the board may enter into a transfer agreement with another person to provide the terms and conditions upon which the board may transfer any of the city's interests in an existing theater. A transfer may take the form of a sale, lease of other conveyance and may be with or without financial consideration, except that if the transfer is made to a private, for-profit entity, the transfer shall be for fair market financial consideration. A transfer agreement sh...
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