Number
160833
Version
ORIGINAL
Reference
Sponsor
ALD. BAUMAN
Title
Resolution approving an amendment to the lease for the Redevelopment Authority-owned parking lot at 401-41 West Wisconsin Avenue between the Redevelopment Authority and ABM Onsite Services - Midwest, Inc., in the 4th Aldermanic District.
Analysis
This resolution authorizes the Redevelopment Authority to enter into a lease amendment for the RACM-owned property at 401-41 West Wisconsin Avenue with ABM Onsite Services - Midwest, Inc. (“ABM”). The amendment will allow ABM to operate a parking lot on the entire property.
Body
Whereas, The Redevelopment Authority of the City of Milwaukee (“RACM”) owns the surface parking lot at 401-41 West Wisconsin Avenue (the “Parcel”), and RACM leased the east half of the Parcel to Central Parking, Inc. (“CPI”) and the west half to ABM Onsite Services - Midwest, Inc. (“ABM”); and
Whereas, On November 1, 2013, RACM entered into a new, restated lease with ABM (the “2013 Lease”), which was later amended on October 15, 2015 (“Amendment No. 1”); and
Whereas, CPI and RACM mediated and arbitrated rent, and CPI sued RACM on June 30, 2015 in Milwaukee County Circuit Court Case No. 2015-CV-005387; and
Whereas, RACM prevailed in the arbitration and litigation, and RACM terminated CPI’s lease as of September 30, 2016; and
Whereas, RACM, as landlord, and ABM, as tenant, wish to amend the lease (“Amendment No. 2”), a copy of which is attached to this Common Council File, to allow ABM to lease the entire Parcel from RACM (east half and west half) under the terms and conditions of the restated 2013 Lease and Amendment No. 1; and
Whereas, On October 20, 2016, RACM conducted a public hearing on Amendment No. 2 and approved it, conditioned upon Common Council approval; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that Amendment No. 2, as submitted herewith or in substantial conformity thereto, and RACM entry into said amendment is a...
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