Fiscal Note
The proposed resolution authorizes the City of Madison to purchase the property located at 1902 Bartillon Drive to provide the City with short-term and long-term options to address homelessness. The estimated cost for the acquisition is $855,000, plus an estimated $40,000 for environmental studies, holding costs, and closing costs. The property acquisition and accompanying costs will be funded by the available budget authority in the Economic Development Division’s General Land Acquisition Fund capital program and/or the Land Banking capital program. No additional City appropriation is required.
Title
Authorizing the City’s execution of a Purchase and Sale Agreement between the City of Madison and Danlilly, LLC, or their successors and assigns, for the purchase of the property located at 1902 Bartillon Drive in the City of Madison to provide the City with both short-term and long-term options to address homelessness.(17th A.D.)
Body
WHEREAS, Danlily, LLC (“Seller”) is the owner of the property located at 1902 Bartillon Drive, which contains 2.12 acres improved with a commercial building that is partially destroyed (“Property”), legally described as follows:
KINSMAN BUSINESS PARK, PRT LOTS 6, 7 & 8 DESC AS FOL: BEG SW COR SD LOT 6, TH N 02 DEG 27 MIN 28 SEC W 481.62 FT, TH N 89 DEG 30 MIN 10 SEC E 215.65 FT, TH S 00 DEG 29 MIN 50 SEC E 421.17 FT, TH S 89 DEG 27 MIN 25 SEC W 32.70 FT TO PT OF CUR, TH ALG CUR TO LEFT, RAD 177.5 FT, CHRD BRS S 65 DEG 10 MIN 56 SEC W 145.94 FT, TH S 89 DEG 27 MIN 25 SEC W 33.48 FT TO POB.
WHEREAS, the City of Madison (“City”) desires to purchase the Property on which to locate services to support people experiencing homelessness; and
WHEREAS, the Mayor directed City Real Estate Staff to pursue the purchase of one or more properties suitable for such use; and
WHEREAS, in order to provide the City of Madison with both short-term and long-term options for housing members of the Madison community experiencing homelessness; and
WHEREAS, the Seller agrees, by virtue of an executed Purchase and Sale Agreement (“Agreement”), to sell the Property to the City for a purchase price of $855,000, which was negotiated based upon an appraisal approved by the City’s Office of Real Estate Services;
NOW, THEREFORE, BE IT RESOLVED that the City’s Common Council hereby authorizes the City’s execution of a Purchase and Sale Agreement, as Buyer, for the purchase of the Property subject to the terms and conditions contained in the Agreement attached hereto; and
BE IT FURTHER RESOLVED that City Staff are authorized to solicit and enter into contracts to pay for holding costs including, but not limited to, grass cutting, snow removal, and general maintenance; and
BE IT FURTHER RESOLVED that the Mayor and Clerk are hereby authorized to sign, accept, and record any and all documents and legal instruments required to complete the transaction contemplated in this resolution, on a form and in a manner that has been approved by the City Attorney.