Number
191619
Version
Substitute 1
Reference
Sponsor
THE CHAIR
Title
An ordinance granting an air space lease to Third Ward Lofts, LLC, for a portion of the building to overhang the adjacent sidewalk for the premises at 323 North Jefferson Street (Corner of North Jefferson Street and East St. Paul Avenue) in the 4th Aldermanic District
...Analysis
In accordance with state law, this ordinance will grant an airspace lease to Third Ward Lofts, LLC, for a portion of the building to overhang the adjacent sidewalk for the premises at 323 North Jefferson Street (Corner of North Jefferson Street and East St. Paul Avenue) in the 4th Aldermanic District.
Body
The Mayor and Common Council of the City of Milwaukee do ordain as follows:
Part 1: FINDINGS. In accordance with the provisions of sec. 66.0915(4), Wis. Stats., (2017-2018), the Common Council of the City of Milwaukee hereby authorizes, directs and agrees that the City of Milwaukee, through the proper city officers, enter into an airspace lease with Third Ward Lofts, LLC for a term of 99 years for the purpose of allowing Lessee to construct, maintain, and use a building overhang that extends over the adjacent sidewalk for the premises at 323 North Jefferson Street, as described in the lease, and the Common Council of the City of Milwaukee hereby finds that the area described in the airspace lease is not needed for street, alley or other public purposes and that the public interest will be served because the leasing of the airspace will aid in the development of the downtown.
Part 2. Attached and made part of Common Council File No. 191619 is a copy of such lease in substantially the same form as the lease that will be signed.
Part 3. All ordinances or parts of ordinances contravening the provisions of this ordinance are hereby repealed.
Part 4. The Department of City Development, through its real estate section, shall process, at the expense of the Lessee, the recording of this ordinance and the executed lease with the Milwaukee County Register of Deeds and shall forward the recording information complete with a final copy of the ordinance and lease to the City Engineer and the City Comptroller.
Part 5. This ordinance shall take effect and be in force from and after its passage and publication.
LRB
APPROVED AS TO FORM
_________________________
Legislative Reference Bureau
Date:_____________________
Attorney
IT IS OUR OPINION THAT THE ORDINANCE
IS LEGAL AND ENFORCEABLE
________________________
Office of the City Attorney
Date:____________________
Requestor
Drafter
TDM/tdm
02/29/2020
1053-2020-116:267231