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File #: 41815    Version: 1 Name: Leases for subterranean space & airspace, 25 W. Main & 115, 126 S. Carroll
Type: Ordinance Status: Passed
File created: 2/15/2016 In control: BOARD OF PUBLIC WORKS
On agenda: 3/29/2016 Final action: 3/29/2016
Enactment date: 4/9/2016 Enactment #: ORD-16-00040
Title: Granting leases of subterranean space and airspace to 25 West Main Parking, LLC for use of the public right-of-way below and above 25 West Main Street, 115 South Carroll Street and 126 South Carroll Street for encroaching features.
Sponsors: Michael E. Verveer
Attachments: 1. Exhibit A

Fiscal Note

No fiscal impact.

Title

Granting leases of subterranean space and airspace to 25 West Main Parking, LLC for use of the public right-of-way below and above 25 West Main Street, 115 South Carroll Street and 126 South Carroll Street for encroaching features.

Body

DRAFTER'S ANALYSIS:  This ordinance is a companion to RES-15-00525 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:

A lease is hereby granted to 25 West Main Parking, LLC, for airspace and subterranean space described in attached Exhibit A.  The lease is for a term of 99 years and is subject to the terms and conditions in a certain Subterranean and Airspace Lease between the City of Madison and 25 West Main Parking, LLC.

 

EDITOR’S NOTE:  This ordinance is required under Wis. Stat. § 66.0915 and is complementary to RES-15-00525 authorizing the Mayor and City Clerk to sign a lease with 25 West Main Parking LLC, for subterranean space and airspace.