Number
101150
Version
Original
Reference
Sponsor
Ald. Bauman
Title
Resolution approving an Amendment to and Extension of Lease Agreement with Milwaukee Intermodal Terminal, LLC located at 1225 S. Carferry Drive on the South Harbor Tract.
Analysis
This resolution would approve Amendment to and Extension of Lease Agreement with Milwaukee Intermodal Terminal, LLC for use of the Container Yard and approximately 3,300 square feet of office space in the building located at 1225 S. Carferry Drive on the South Harbor Tract, for use as an intermodal terminal, receiving, shipping, storing and handling containers.
BODY
Whereas, Milwaukee Intermodal Terminal has been a long term tenant in good standing with the Port of Milwaukee and has been operator of the Port’s Intermodal Container Yard since 1996; and
Whereas, The Lease term is for one year with three additional one year periods, each successively under the same terms and conditions unless either party provides a written notice of termination 180 days prior to expiration. This lease commences on 1 January 2011 and terminates on 31 December 2014; and
Whereas, The Board of Harbor Commissioners at their meeting of December 14, 2010 acted by vote to grant such extension; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that said Common Council hereby ratifies and approves the Amendment to and Extension of Lease Agreement between the City of Milwaukee, by and through its Board of Harbor Commissioners and Milwaukee Intermodal Terminal, LLC; 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, as approved by the City Attorney's office.
Drafter:
Port of Milwaukee
Eric Reinelt
1/7/11
i:mitcylse11ccres.doc