Number
161322
Version
SUBSTITUTE 1
Reference
Sponsor
THE CHAIR
Title
Substitute resolution to vacate a portion of the alley in the block bounded by North Broadway, East Mason Street, North Water Street and East Wells Street and to terminate an air space lease, in the 4th Aldermanic District.
Analysis
This substitute resolution vacates the above public right-of-way in accordance with vacation proceedings under power granted to the City of Milwaukee by Section 62.73, Wisconsin Statutes, and Section 308-28, Milwaukee Code of Ordinances, and it terminates an air space lease, since it is no longer necessary. This vacation was requested by BMO Harris Bank NA to accommodate a new development.
Body
Whereas, It is proposed that a portion of the alley in the block bounded by North Broadway, East Mason Street, North Water Street and East Wells Street be vacated pursuant to the provisions of Section 62.73, Wisconsin Statutes; and
Whereas, In 1966, the City of Milwaukee (“City”) approved an air space lease (“Lease”) over said alley, recorded at the Milwaukee County Register of Deeds as Document No. 4256418; and
Whereas, BMO Harris Bank NA is the successor Lessee under the Lease and fee title owner of the properties abutting the alley; and
Whereas, If the alley is vacated, the underlying fee ownership reverts to BMO Harris Bank NA, as the owner of the abutting properties, and the Lease will no longer be necessary, therefore, the City and BMO Harris Bank NA wish to terminate the Lease; and
Whereas, The Department of Public Works has been directed to prepare a coordinated report estimating all costs and benefit assessments that will be incurred with said vacation; and
Whereas, That as provided by Sections 62.73(1) and 840.11, Wisconsin Statutes, a lis pendens must be filed with the Milwaukee County Register of Deeds; and
Whereas, Said vacation has been reviewed in accordance with Section 308-28, Milwaukee Code of Ordinances; now, therefore, be it
Resolved, By ...
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