Number
061409
Version
Original
Reference
Sponsor
The Chair
Title
Resolution approving a lease agreement with Milwaukee Intermodal Terminal, LLC for property located at 1225 S. Carferry Drive.
Analysis
This resolution would approve a lease agreement with Milwaukee Intermodal Terminal, LLC for
use of the Container Yard and approximately 3,300 square feet of office space in the property 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, Milwaukee Intermodal Terminal, LLC 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 one year with three additional one year periods, each successfully under the same terms and conditions unless either party provides a written notice of termination 180 days prior to expiration. This lease commences on 1 January 2007 and terminates on 31 December 2007, with a rental of $5.25 per unit or container on flat car and $2.60 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:mitcntnryardlse07ccres.doc
2/7/07