Fiscal Note
Funding of $30,000 is available in the 2014 adopted City operating budget, which has appropriated $1,200,000 in funding for the Contingent Reserve. The current balance of the Contingent Reserve is 1,200,000, which would be reduced to $1,170,000 upon the adoption of this budget amendment. There is no net impact on the tax levy. The adopted operating budget of EDD will be amended to increase its authorized funding by $30,000 for market analysis, as follows:
$30,000 GN01-54950-294000 (Consulting Services)
Title
Amending the 2014 adopted operating budgets of the Economic Development Division (EDD) and the City Contingent Reserve budget by appropriating $30,000 from the Contingent Reserve to the EDD budget for market analysis and concept planning for the Northside Town Center.
Body
WHEREAS, in 2013, the City of Madison allocated $30,000 in funds to complete a market analysis and concept design plans for the Northside Town Center property; and,
WHEREAS, in October 2013, the City issued a Request for Proposals (RFP) to engage a consulting team to complete market analysis and concept design plans for the Northside Town Center property; and,
WHEREAS, the City selected a team led by Enberg Anderson, Inc. to complete the work; and,
WHEREAS, the Economic Development Division and Enberg Anderson initiated the process of entering into a contract to complete the proposed scope of work but were unable to execute the contract before the end of the year; and,
WHEREAS, no funds have been spent on this project to date; and,
WHEREAS, as the contract was not executed by the end of the year, the 2013 funding for the project shifted to the 2013 fund balance; and,
WHEREAS, the Economic Development Division desires to move forward with the Enberg Anderson, Inc. contract in 2014.
NOW THEREFORE BE IT RESOLVED, the 2014 adopted operating budgets of the Economic Development Division and the City Contingent Reserve be amended by appropriating $30,000 form the Conting...
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