Fiscal Note
Private Contract, No City Funds Required.
Title
Approving plans and specifications for public improvements necessary for the project known as 5302 Tancho Drive PUD, construction to be undertaken by the Developer, Private Contract No. 2345 and rescinding resolution RES-13-00217, File No. 29321. (17th AD)
Body
WHEREAS, the developer, Fiduciary Real Estate Development, Inc. has received the City of Madison's conditional approval for a Planned Unit Development (PUD) to construct an apartment building, and,
WHEREAS, Section 16.23(9) of the Madison General Ordinances requires the developer to install the public improvements necessary to serve the development; and
WHEREAS, the project was previously approved by resolution RES-13-00217, File No. 29321 on March 19, 2013; and,
WHEREAS, the developer has requested that the entity name be changed to Barrington II Apartments, LLC By: Fiduciary Real Estate Development, Inc. its member.
NOW, THEREFORE, BE IT RESOLVED:
1. That the Mayor and City Clerk are hereby authorized and directed to execute a Contract For the Construction of Public Improvements That Will be Accepted by the City of Madison For 5302 Tancho Drive PUD, with Barrington II Apartments, LLC By: Fiduciary Real Estate Development, Inc. its member.
2. That the plans and specifications for the public improvements necessary to serve this phase of the subdivision are hereby approved.
3. That the developer is authorized to construct the public improvements in accordance with the terms of the Contract For the Construction of Public Improvements That Will be Accepted by the City of Madison at the sole cost of the developer, except as follows: NONE
4. That the Mayor and City Clerk are hereby authorized to sign and grant easements or right-of-way release or procurement documents, maintenance agreements or encroachment agreements, as necessary and grant or accept dedication of lands and/or easements from/to the Developer/Owner for public improvements located outside of existing public fee title or easement right-of-ways.
5. The Common Council is approved to accept ownership of the improvements in the Maintenance Area if a maintenance agreement is executed and recorded as a condition of this contract.
6. That resolution RES-13-00217, File No. 29321 is hereby rescinded.