City of Milwaukee - File #: 030326

• File #: 030326
• Version: 0
• Type: Resolution
• Status: Passed
• File created: 6/24/2003
• In control: PUBLIC SAFETY COMMITTEE
• Final action: 7/15/2003
• Title: Resolution authorizing the Milwaukee County War Memorial, Inc., which owns the Marcus Center for the Performing Arts parking structure, to expend up to $150,000 of its share of a capital improvement reserve fund for the purpose of financing a feasibility study to redevelop the site of the current PAC parking structure located on City-owned land at 130 E. State Street.
• Sponsors: THE CHAIR
• Indexes: CAPITAL IMPROVEMENTS, OFF STREET PARKING, PARKING, PARKING GARAGES, PARKING STRUCTURES, PUBLIC IMPROVEMENTS

Date	Ver.	Action By	Action	Result	Tally
7/24/2003	0	MAYOR	SIGNED
7/15/2003	0	COMMON COUNCIL	ADOPTED	Pass	16:0
7/3/2003	0	PUBLIC SAFETY COMMITTEE	RECOMMENDED FOR ADOPTION	Pass	5:0
6/27/2003	0	PUBLIC SAFETY COMMITTEE	HEARING NOTICES SENT
6/26/2003	0	PUBLIC SAFETY COMMITTEE	HEARING NOTICES SENT
6/26/2003	0	PUBLIC SAFETY COMMITTEE	HEARING NOTICES SENT
6/24/2003	0	COMMON COUNCIL	ASSIGNED TO

Number
030326
Version
ORIGINAL
Reference

Sponsor
THE CHAIR
Title
Resolution authorizing the Milwaukee County War Memorial, Inc., which owns the Marcus Center for the Performing Arts parking structure, to expend up to $150,000 of its share of a capital improvement reserve fund for the purpose of financing a feasibility study to redevelop the site of the current PAC parking structure located on City-owned land at 130 E. State Street.
Analysis
This resolution authorizes the Milwaukee County War Memorial, Inc., which owns the Marcus Center for the Performing Arts parking structure, to expend up to $150,000 of its share of a capital improvement reserve fund for the purpose of financing a feasibility study to redevelop the site of the current PAC parking structure located on City-owned land at 130 E. State Street.
Body
Whereas, The Milwaukee County War Memorial, Inc., entered into a land lease agreement on February 5, 1969, with the City of Milwaukee whereby the War Memorial constructed a parking structure on land owned by the City and makes a lease payment to the City of $1 a year until the year 2019 when the title of the parking structure transfers to the City upon expiration of the agreement; and

Whereas, According to the agreement, the revenues in excess of those funds needed to operate and maintain the parking structure are divided equally between the City of Milwaukee and the Milwaukee County War Memorial; and

Whereas, An amendment to the agreement executed on June 25, 1985, established a Capital Improvements Program whereby all excess revenues are to be held in separate accounts to be used for future improvements and renovations to the Proforming Arts Center (PAC) parking structure; and

Whereas, At the end of 2002, the Milwaukee County War Memorial, Inc. share and the City share of the excess funds totals $1,056,795 each; and

Whereas, The Marcus Center is currently exploring the feasibility of replacing the current parking st...