Title
RESOLUTION AUTHORIZING AGREEMENT WITH 14 DEGREE PROPERTIES LLC IN RELATION TO THE VACATION OF A PORTION OF 19TH AVENUE WEST AND USE OF THE PROPERTY FOR COMMUNITY PURPOSES
Body
CITY PROPOSAL:
RESOLVED, that the proper city officials are hereby authorized to enter an Agreement with 14 Degree Properties LLC (the "Company"), substantially in the form of that attached hereto as Exhibit A, committing the City to vacate the portion of 19th Avenue West between Michigan Street and Lower Michigan Street and committing the Company to construct a pedestrian and bicycle path from Lower Michigan Street to the Lincoln Park Business District and to redevelop the space for community use purposes.
Statement of Purpose
STATEMENT OF PURPOSE: The purpose of this resolution is to authorize an agreement with 14 Degree Properties, LLC, the property arm of Bent Paddle Brewing, Inc., pursuant to which the City would vacate the portion of 19th Avenue West between Michigan Street and Lower Michigan Street and the Company would construct and maintain a pedestrian and bicycle trail through the property. The trail will connect the Cross City Trail to the Lincoln Park Craft District. The Company will also construct and maintain improvements to the remainder of the vacated property which would allow it to serve as a community gathering space.
Bent Paddle, through 14 Degree Properties, LLC, owns the property on the southwest side of the portion of 19th Avenue W. that is proposed to be vacated. Bent Paddle leases the property on the northeast side of the street. It operates its brewing business from both properties. Bent Paddle ultimately intends to unite these properties, and create a community space and is willing to construct and maintain the space as such.
The agreement provides for the future dedication of a pedestrian easement by Bent Paddle over the portion of the property where the trail is installed. Bent Paddle will be responsible for all maintenance and operation of...
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