Number
170059
Version
Original
Reference
Sponsor
Ald. Borkowski
Title:
Resolution approving a Lease Agreement with Milwaukee Bulk Terminals, LLC.
Analysis
This resolution would approve a Lease Agreement with Milwaukee Bulk Terminals, LLC for 2.48 acres of property located at 1600 South Carferry Drive for nine years commencing in May________, 2017 and terminating May __________, 2026; and
Body
Whereas, Milwaukee Bulk Terminals, LLC has been a long term tenant in good standing with the Port of Milwaukee; and
Whereas, The property will be used to construct a salt pad and the rental term for the parcel will be $15,800 per acre annually totaling $39,184 annually; and
Whereas, The Board of Harbor Commissioners at their meeting of April 13, 2017 acted by vote of the Board to grant such Lease Agreement; 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 Milwaukee Bulk Terminals, LLC and the City of Milwaukee, by and through its Board of Harbor Commissioners, 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
4/13/17
Port of Milwaukee
Paul Vornholt
i:mbtlse2.48acreccres.doc