City of Madison, Wisconsin | Legislative Information Center
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File #: 65185    Version: 1 Name: 12161 Lease - MMSD/MSCR 330 & 342 E Lakeside St
Type: Resolution Status: Passed
File created: 4/23/2021 In control: Economic Development Division
On agenda: 5/4/2021 Final action: 5/18/2021
Enactment date: 5/24/2021 Enactment #: RES-21-00343
Title: Authorizing the execution of a 15-year lease agreement between the City of Madison and Madison Metropolitan School District (“MMSD”) for a portion of the City’s the property located at 330 and 342 East Lakeside Street for the operation of the Madison School & Community Recreation (“MSCR”) program, including their administrative offices and corresponding public recreational programming.
Sponsors: Satya V. Rhodes-Conway, Syed Abbas, Sheri Carter, Tag Evers, Gary Halverson
Attachments: 1. EXHIBIT A.pdf, 2. FILE ID 63918 RES 21-00118.pdf
Fiscal Note
The proposed resolution authorizes a 15-year lease agreement between the City of Madison and Madison Metropolitan School District for a portion of the City’s property located at 330 and 342 East Lakeside Street for the operation of the Madison School & Community Recreation program. MMSD has approved to pay up front $400,000, which will fund the difference in the Property Capital Budget (amended by adopted RES-21-0118, File ID 63918) and pay for a portion of the Leased Premises, which will be specified in the design/bid exhibit to the Lease and collectively defined as the “City West Improvements”. MMSD agrees to contribute $200,000 before June 30, 2021 and $200,000 upon completion of the City West Improvements. Base rent for the space is listed in the attachments and will total $1,286,095 over the 15-year term, payable to the Parks Division facility rental. No additional City appropriation is required with adoption of this resolution.
Title
Authorizing the execution of a 15-year lease agreement between the City of Madison and Madison Metropolitan School District (“MMSD”) for a portion of the City’s the property located at 330 and 342 East Lakeside Street for the operation of the Madison School & Community Recreation (“MSCR”) program, including their administrative offices and corresponding public recreational programming.
Body
WHEREAS, the City of Madison (“City”) is the owner of the property located at 330 and 342 East Lakeside Street in the City of Madison, Dane County, Wisconsin (the “Property”), of approximately 3.6 acres that is adjacent to Olin Turville Park; and

WHEREAS, the Property is improved with an existing 43,879 square foot office building (the “Building”) on the 330 E. Lakeside parcel, with two sections therein-an east wing (“East Wing”) and a west wing (“West Wing”); and

WHEREAS, Parks is interested in leasing the West Wing of the Building to Madison Metropolitan School District (“MMSD”) to provide additional public services from t...

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