Fiscal Note
The proposed resolution authorizes an acquisition and easement for the property located within four unaddressed tax parcels, one tax parcel addressed as 3328 Nelson Rd and a portion of two tax parcels both listed as 5185 Reiner in the Town of Burke and the City of Sun Prairie, to be funded entirely funded through Park Land Acquisition funds. Land acquisition costs are estimated to be $6,000,000. In addition, the costs for the owner to complete a site survey ($8,275) and install fencing and gate ($50,000) will be paid at time of closing. Funding for all costs is available in the Park Land Acquisition Major Program (Munis #17128). No additional appropriations are required at this time for the acquisition. The Parks Division anticipates applying for a cost sharing grant through the Dane County Conservation Fund Grant at a future date. Future improvements to the park would be addressed through the Parks Division’s Capital Budget request. Operational resources to maintain the Subject Property would be addressed through future requests within the Parks Division’s Operating Budget and will be dependent upon park amenities that are developed on site.
Title
Authorizing the City’s execution of a Purchase and Sale Agreement between the City of Madison and Madison Crushing & Excavating, Inc. for the purchase of four unaddressed tax parcels, one tax parcel addressed as 3328 Nelson Rd and a portion of two tax parcels both listed as 5185 Reiner in the Town of Burke and the City of Sun Prairie for future park land, together with a Public Access Easement Agreement over adjacent lands to access said park land.
Body
WHEREAS, Madison Crushing & Excavating, Inc. (“Seller”) is the owner of the property located within four unaddressed tax parcels, one tax parcel addressed as 3328 Nelson Rd and a portion of two tax parcels both listed as 5185 Reiner Rd, which contains 199 acres of land and all improvements thereon (“Property”), which is legally described in Exhibit A of the Purchase and Sale Agreement (“PSA”) attached hereto.
WHEREAS, the City of Madison (“City”) desires to purchase the Property from the Seller to obtain park land; and
WHEREAS, the Mayor directed the City’s Office of Real Estate Services to pursue the purchase of one or more properties suitable for such use, the Property was selected, and the negotiated terms are available in the PSA attached hereto; and
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 with a purchase price of $6,000,000 for the land and additional costs due at closing of $58,275 for land survey and fence installation work subject to certain prorations and closing costs, and on substantially the same the terms and conditions contained in the PSA 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 the City’s maintenance and repair responsibilities outlined in the Lease, and after the Lease has expired and Seller has vacated the Property, grass cutting, snow removal, capital repairs and general maintenance; and
BE IT FINALLY 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 transactions contemplated in this resolution, on a form and in a manner that has been approved by the City Attorney.