Number
070825
Version
ORIGINAL
Reference
990943
Sponsor
THE CHAIR
Title
Resolution authorizing the Commissioner of Public Works to execute an amendment to an agreement for the traffic signal at the intersection of North Commerce Street and North Humboldt Avenue in the 6th Aldermanic District.
Analysis
This resolution authorizes the Commissioner of Public Works to execute an amendment to an agreement for the traffic signal at the intersection of North Commerce Street and North Humboldt Avenue. The Amendment allows for change in ownership of the property benefited by the traffic signal. The owner of the property, as declared in the Amendment to the Agreement, will continue to pay operating and maintenance costs.
Body
Whereas, The Common Council authorized execution of an agreement for the operation and maintenance of a traffic signal at the intersection of North Commerce Street and North Humboldt Avenue, under Common Council File Number 990943 on November 3, 1999; and
Whereas, The original agreement was between the City of Milwaukee and American Stores Properties, Inc.; and
Whereas, The traffic signal was installed to benefit the development commonly known as Humboldt Yards and installation and maintenance was paid for by American Store Properties; and
Whereas, American Store Properties has sold and conveyed the development commonly known as Humboldt Yards to another entity; and
Whereas, The new entity, Milo Investments II, LLC will now be responsible for operation and maintenance costs of the traffic signal as outlined in the original agreement; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the Commissioner of Public Works is authorized to execute an amendment to an agreement for the traffic signal at the intersection of North Commerce Street and North Humboldt Avenue.
Requestor
Department of Public works
Drafter
Infrastructure Services Division
KAL:lja
September 20, 2007