City of Madison, Wisconsin | Legislative Information Center
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File #: 40260    Version: 1 Name: 10606 Metro - Shopko SPE Bus Stop Land Use Agreement
Type: Resolution Status: Passed
File created: 9/30/2015 In control: BOARD OF ESTIMATES (ended 4/2017)
On agenda: 10/20/2015 Final action: 10/20/2015
Enactment date: 10/23/2015 Enactment #: RES-15-00829
Title: Authorizing a Land Use Agreement between Spirit SPE Portfolio 2006-1, LLC, and the City (the “Grantee”) to allow for the continued use of its land to maintain and access an existing public bus stop zone.
Sponsors: Larry Palm
Fiscal Note
This Land Use Agreement requires the City to pay a monthly fee of $45 while the Property is unoccupied by a tenant or future purchaser. Funds for the agreement are available within Metro's operating budget.
Title
Authorizing a Land Use Agreement between Spirit SPE Portfolio 2006-1, LLC, and the City (the “Grantee”) to allow for the continued use of its land to maintain and access an existing public bus stop zone.
Body
Spirit SPE Portfolio 2006-1, LLC, (the “Grantor”) is the owner of real property located at 2602 Shopko Drive, Madison, Wisconsin (the “Property”), which was previously owned/occupied by Shopko. The Office of Real Estate Services received verbal approval from Shopko to place a bus stop zone on the Property. The terms of this verbal agreement were being discussed just prior to the sale of the Property to the Grantor, but were never documented. The Grantor agreed to allow Metro Transit Utility (the “Metro”) to continue to occupy and use a portion of the Property to access and maintain a bus stop zone and appurtenant signage thereon.

WHEREAS, a certain portion of the Property has been improved with a paved access drive (the “Access Drive”); and

WHEREAS, Metro operates its transit service to the Property and currently maintains a public bus stop zone and appurtenant signage (the “Bus Stop Area”) upon a portion of said Property; and

WHEREAS, the Grantee desires to formally establish, by the Agreement, the right to use the Access Drive and Bus Stop Area (collectively, the “Premises”) for the operation of the Metro’s transit service and operation of the Bus Stop Area.

NOW, THEREFORE, BE IT RESOLVED that the Common Council of the City of Madison hereby approves a Land Use Agreement (the “Agreement”) with the City of Madison (the “Grantee”) and Spirit SPE Portfolio 2006-1, LLC, (the “Grantor”) and authorizes the Mayor and City Clerk to execute a Land Use Agreement on the following terms and conditions:

1. Premises. The Grantor hereby gr...

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