City of Milwaukee - File #: 170770

• File #: 170770
• Version: 0
• Type: Resolution
• Status: Passed
• File created: 9/6/2017
• In control: COMMON COUNCIL
• Final action: 9/26/2017
• Title: Resolution approving a new lease with Talgo, Inc. at the Century City Business Park, in the 7th Aldermanic District.
• Sponsors: ALD. RAINEY
• Indexes: LEASES

Date	Ver.	Action By	Action	Result	Tally
10/5/2017	0	MAYOR	SIGNED
9/26/2017	0	COMMON COUNCIL	ADOPTED	Pass	15:0
9/19/2017	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	RECOMMENDED FOR ADOPTION; Minutes note: Individuals appearing: Rocky Marcoux, Department of City Development Commissioner Benjamin Timm, Redevelopment Authority of the City of Milwaukee Willie Wade, Employ Milwaukee	Pass	5:0
9/14/2017	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
9/13/2017	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
9/13/2017	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
9/13/2017	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
9/13/2017	0	ZONING, NEIGHBORHOODS & DEVELOPMENT COMMITTEE	HEARING NOTICES SENT
9/6/2017	0	COMMON COUNCIL	ASSIGNED TO

Number
170770
Version
ORIGINAL
Reference
091516, 110082, 110138, 120638, 140370, 141760
Sponsor
ALD. RAINEY
Title
Resolution approving a new lease with Talgo, Inc. at the Century City Business Park, in the 7th Aldermanic District.
Analysis
This resolution authorizes the Century City Redevelopment Corporation, owner of 3533 North 27th Street, and the Redevelopment Authority of the City of Milwaukee, owner of 3025 West Hopkins Street and 3424 North 27th Street, to enter into a new and updated lease with Talgo, Inc.
Body
Whereas, The Century City Redevelopment Corporation (“CCRC”), a redevelopment corporation under Wisconsin Statutes Sections 66.1301 through 66.1329, owns 3533 North 27th Street, Milwaukee (the “3533 Parcel”), having acquired that property from the Redevelopment Authority of the City of Milwaukee (“RACM”); and

Whereas, RACM owns the parking lots at 3025 West Hopkins Street and 3424 North 27th Street, Milwaukee; and

Whereas, Talgo, Inc. (“Talgo”) currently leases part of the 3533 Parcel from CCRC on a month-to-month basis under an April 1, 2015 lease that was recorded with the Milwaukee County Register of Deeds as Document No. 10452634; and

Whereas, Talgo and the City of Milwaukee’s Department of City Development (“DCD”) negotiated the lease, a copy of which is attached to this Common Council File, whereby the 2015 month-to-month lease will be superseded and be replaced by the new lease and whereby CCRC will lease the 3533 Parcel and RACM will lease the parking lots to Talgo for a four-year term, with Talgo having the right, after the first four years, to remain for another year on a month-to-month basis; and

Whereas, Per Wisconsin Statutes Section 66.1333(9), DCD also prepared the Land Disposition Report concerning the lease, a copy of which is attached to this Common Council File; and

Whereas, The CCRC Board met on September 14, 2017 and adopted a resolution, a copy of which is attached to this Common Council File, authorizing CCRC o...