Number
061408
Version
Original
Reference
Sponsor
The Chair
Title
Resolution approving a lease agreement with Milwaukee Intermodal Terminal, LLC for property located at 2061 S. Harbor Dr.
Analysis
This resolution would approve lease agreement with Milwaukee Intermodal Terminal, LLC for
4.77 acres of property located at 2061 S. Harbor Dr., for use of handling and storing shipping containers, chassis and related equipment, and for the operation of a container loading and unloading facility. The property may also be used for storing, packaging and delivery of non-hazardous dry bulk commodities; and.
Body
Whereas, Milwaukee Intermodal Terminal has been a long term tenant in good standing with the Port of Milwaukee and has been operator of the Port’s Intermodal Container Yard since 1996; and
Whereas, The Lease term is for a period of five (5) years commencing 12:00 a.m. on March 1, 2007 and terminating at 11:59 on December 31, 2011. The term of this Lease shall be extended automatically for one additional five (5)-year period under the same terms and conditions with 180 days written notice of termination by either party prior to expiration of the Initial term. The Extended Term shall be approved by the Board of Harbor Commissioners; 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:mit4.77lse07ccres.doc
2/7/07