Number
170366
Version
SUBSTITUTE 1
Reference
Sponsor
ALD. BORKOWSKI
Title
Substitute resolution approving a Lease Agreement between Discovery World (“Tenant”) and the Port of Milwaukee (“City”).
Analysis
This resolution approves a Lease Agreement between Discovery World and the City of Milwaukee (by and through the Board of Harbor Commissioners) for the property occupied by the Harbor House restaurant, including the building, patio and parking lot. The lease is for a period of 15 years, with up to 3 5-year extensions possible.
Body
Whereas, Tenant desires to lease property located at 1122 East Michigan Street in the City of Milwaukee commencing at midnight on January 1, 2018 and terminating at 11:59 p.m. on December 31, 2034; and
Whereas, The Lease may be extended for one 5-year extension following the initial term; and
Whereas, Tenant desires to leases the Property for restaurant, catering, banquet, meeting/event and bar services and for parking; and
Whereas, The Property includes the building, patio, green spaces and landscaping, lake walkway and parking lot located on the Premises; and
Whereas, Tenant shall also allow the Property to be utilized by the general public; 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 the City of Milwaukee, by and through its Board of Harbor Commissioners and Discovery World; and, be it
Further Resolved, That the designated officers of said government and said Board are hereby authorized and directed to execute an agreement to carry out this purpose as prepared by the City Attorney's office.
Requester
Drafter:
Port of Milwaukee
Paul Vornholt: Jeff Osterman
06/30/2017