Number
071306
Version
Original
Reference
Sponsor
Title
Resolution approving an extension and amendment of easement and lease agreement with West Shore Pipeline Company.
Analysis
This resolution would approve Extension and Amendment of Easement and Lease
Agreement with West Shore Pipeline for property located on the Port’s South Harbor Tract.
BODY
Whereas, West Shore Pipeline has been a long term tenant in good standing in the Port of Milwaukee and has an existing lease dated July 1, 1961; and
Whereas, The existing lease will expire on December 31, 2007 and both parties to the easement and lease have agreed to an additional 25-year extended term under the same terms and conditions except for rent escalation, commencing January 1, 2008 and terminating on December 31, 2032; and
Whereas, The Board of Harbor Commissioners at their meeting of December 7, 2007 acted by vote of the Board to grant such extension; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee that said Common Council hereby ratifies approves the Extension and Amendment of Easement and Lease Agreement between West Shore Pipeline and the City of Milwaukee, by and through its Board of Harbor Commissioners for the period of January 1, 2008 through December 31, 2032 per the terms and conditions of the leased dated July 1, 1961; 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.
Drafter:
Port of Milwaukee
Eric C. Reinelt
1/03/07
i:wspllse08ccres.doc