Fiscal Note
Under terms of the lease, the lessee will pay to the City $750 per year for each of the first five years. Every five years, the lease payment will be increased by $250. The term of the lease is ninety-nine years.
Title
Granting a lease of airspace to SSM Health Care of Wisconsin, Inc., for use of the public right-of-way over South Brooks Street for an existing enclosed pedestrian skywalk connecting St. Mary’s Hospital buildings.
Body
DRAFTER’S ANALYSIS: This ordinance authorizes an airspace lease over South Brooks Street for an existing pedestrian skywalk.
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The Common Council of the City of Madison do hereby ordain as follows:
A lease is hereby granted to SSM health Care of Wisconsin, Inc., for airspace described in attached Exhibit A, for a pedestrian skywalk. The lease is for a term of 99 years and is subject to the terms and conditions in a certain Airspace Lease between the City of Madison and SSM Health Care of Wisconsin, Inc.
EDITOR’S NOTE: This ordinance is required under Sec. 66.0915, Wis. Stats., and is complementary to a certain resolution authorizing the Mayor and City Clerk to sign a lease with SSM Health Care of Wisconsin, Inc., for airspace for a pedestrian skywalk over South Brooks Street.