City of Madison - File #: 53933

• File #: 53933
• Version: 1
• Name: 10750 Garver Feed Mill Lot 2 Agreement Amendment
• Type: Resolution
• Status: Passed
• File created: 11/27/2018
• In control: Economic Development Division
• On agenda: 2/5/2019
• Final action: 2/5/2019
• Enactment date: 2/8/2019
• Enactment #: RES-19-00074
• Title: Authorizing an Amendment to RES-17-00664, Authorizing the Execution of a Development Agreement with Garver Feed Mill, LLC, to modify the Closing Conditions for Lot 2 and amend the Environmental Responsibilities. (6th A.D.)
• Sponsors: Marsha A. Rummel

Date	Ver.	Action By	Action	Result
2/5/2019	1	COMMON COUNCIL	Adopt	Pass
1/14/2019	1	FINANCE COMMITTEE	RECOMMEND TO COUNCIL TO ADOPT - REPORT OF OFFICER	Pass
12/12/2018	1	BOARD OF PARK COMMISSIONERS	Return to Lead with the Recommendation for Approval	Pass
12/5/2018	1	FINANCE COMMITTEE	Refer
12/4/2018	1	COMMON COUNCIL	Referred	Pass
11/27/2018	1	Economic Development Division	Referred for Introduction

Fiscal Note
No additional City appropriation required.
Title
Authorizing an Amendment to RES-17-00664, Authorizing the Execution of a Development Agreement with Garver Feed Mill, LLC, to modify the Closing Conditions for Lot 2 and amend the Environmental Responsibilities. (6th A.D.)
Body
WHEREAS, the Common Council adopted RES-17-00664, File #47354, authorizing the execution of a Development Agreement (“Development Agreement”) with Garver Feed Mill, LLC (“Developer”) for the redevelopment of the Garver site; and

WHEREAS, the Development Agreement called for two projects on the Garver site: rehabilitation of the Garver Building on Lot 1, and a microlodge component on Lot 2; and

WHEREAS, the City closed on the ground lease and financing for Lot 1 on December 6, 2017, which project is being developed; and

WHEREAS, the Development Agreement required that the Developer close on Lot 2 before June 30, 2018; and

WHEREAS, the Development Agreement placed certain requirements on the Developer prior to closing; and

WHEREAS, the Developer did not meet the closing requirements to the satisfaction of the City prior to the June 30, 2018 deadline; and

WHEREAS, on July 2, 2018 the City notified Developer that its rights to Lot 2 were terminated in accordance with the Development Agreement; and

WHEREAS, parties have continued to negotiate the environmental requirements and closing conditions for the Lot 2 microlodge project; and

WHEREAS, the parties seek to amend the Development Agreement in order to provide Developer new terms and conditions for the closing of Lot 2 and placing new requirements on the Lot 2 development to bring further clarification to the project construction, as well as amend the environmental provisions to simplify the working relationship between the City and Developer.

NOW THEREFORE BE IT RESOLVED, that the Mayor and City Clerk are hereby authorized to execute an amendment to the Development Agreement providing for new terms and conditions for Lo...