Fiscal Note
Anticipated income in the year 2005 of $2,500 will be deposited into Account No. GN01-7822-0 (General Fund/Lease Payments revenues)
Title
Authorizing the Mayor and City Clerk to execute a lease with Robert Weichman for an approximately 25-acre City-owned parcel located at Hoepker Road and Interstate 90-94.
Body
WHEREAS, the City of Madison acquired a 59 acre tract of land located north of Hoepker Road at Interstate 90-94, which was acquired for future industrial development; and
WHERAS, a portion of the City owned parcel would be developed with 25 acres remaining available for farming in 2005.
WHEREAS, Robert Weichman is interested in farming approximately 25 acres of the 59 acre parcel of land under a lease agreement with the City of Madison; and
WHEREAS, the terms of a lease have been negotiated between Robert Weichman and the Real Estate Section.
NOW THEREFORE BE IT RESOLVED, that the Mayor and City Clerk are authorized to execute a lease with Robert Weichman ("Lessee") allowing for the use of an approximately 25-acre tract of land, as described below, for farming purposes, subject to the following terms and conditions:
The term of the Lease shall commence as of January 1, 2005 and expire of December 31, 2005.
The lease may be renewed for subsequent one-year terms upon the agreement of the parties.
The Lessees will pay the City of Madison $100 per tillable acre, for an estimated annual payment of $2,500, for the farming season ending December 31, 2005.
Atrazine or any herbicide that lists atrazine as an active ingredient shall not be applied upon the leased premises.
The Lessee will provide the City with proof of insurance in an amount determined by the City's Risk Manager.
6. 6.
BE IT FURTHER RESOLVED, that the Mayor and City Clerk are hereby authorized to execute any and all additional documents that may be required to complete this transaction.
Legal Description of Leased Premises
Lots 1, 2, 3,...
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