Fiscal Note
No fiscal impact.
Title
Authorizing the Mayor and City Clerk to execute a Subterranean and Air Space Lease with the 202 E. Washington, LLC to accommodate the subterranean and airspace encroachments in the North Webster Street and East Washington Avenue public rights-of-way.
Body
DRAFTER'S ANALYSIS: This ordinance is a companion to Resolution ID No. 46212 for the lease of subterranean space and airspace.
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The Common Council of the City of Madison do hereby ordain as follows:
Authority is hereby granted to the Mayor and City Clerk to execute a lease with 202 E. Washington, LLC (the “Lessor”) to accommodate the encroachment of foundation footings, an electrical vault, a canopy, and a protruding building brow into the North Webster Street and East Washington Avenue public rights-of-way. The lease is for an initial term of fifty (50) years and is subject to the terms and conditions in a certain Subterranean and Air Space Lease between the City of Madison and the Lessor.
EDITOR’S NOTE: This ordinance is required under Wis. Stat. § 66.0915(4), and is complementary to a certain Resolution (ID No. 46212) authorizing the Mayor and City Clerk to execute a Subterranean and Air Space Lease with 202 E. Washington, LLC to accommodate the encroachment of foundation footings, an electrical vault, a canopy, and a protruding building brow upon the North Webster Street and East Washington Avenue public rights-of-way.