Number
170434
Version
ORIGINAL
Reference
160679
Sponsor
THE CHAIR
Title
An ordinance amending Common Council File Number 160679 to grant a subterranean space lease to PPG GP LLC to occupy and maintain an underground tunnel across West Barclay Street connecting the buildings known as 300 South Barclay Street and 139 East Oregon Street, in the 12th Aldermanic District.
Analysis
In accordance with state law, this ordinance amends Common Council File Number 160679 to grant a subterranean space lease to PPG GP LLC for the purpose of using and maintaining an existing tunnel connecting the properties at 139 East Oregon Street and 300 South Barclay Street in the City of Milwaukee, 12th Aldermanic District.
Body
Whereas, The Common Council passed Common Council File Number 160679 on January 18, 2017, effective February 4, 2017, granting a subterranean space lease to MD Fifth Ward Properties, Inc. to occupy and maintain an underground tunnel across West Barclay Street connecting the buildings known as 300 South Barclay Street and 139 East Oregon Street, in the 12th Aldermanic District; and
Whereas, On January 13, 2017, prior to the effective date of Common Council File Number 160679, MD Fifth Ward Properties, Inc. sold the buildings known as 300 South Barclay Street and 139 East Oregon Street to PPG GP LLC by warranty deed; and
Whereas, Due to the change of ownership of the properties, the lease authorized by Common Council File Number 160679 could not be executed; now, therefore
The Mayor and Common Council of the City of Milwaukee do ordain as follows:
Part 1: FINDINGS. In accordance with the provisions of s. 66.0915(3), Wis. Stats., (2013-2014), the Common Council of the City of Milwaukee authorizes, directs and agrees that the City of Milwaukee, through the proper City officers, enter into a subterranean space lease with PPG GP LLC for a term of 99 years for the purpose of allowing Lessee to maintain and use an existing tunnel connecting the prope...
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