Fiscal Note
Funding of up to $40,000 from available TIF proceeds is included in the $2,515,000 budgeted for the TID 24 project (P&D 2006 Adopted Capital Budget project #10, Account #822401).
Title
Authorizing the Mayor and City Clerk to enter into a Purchase Of Services contract with Madison Development Corporation for an amount not to exceed $40,000 to assist in the preparation of a concept development plan, marketing development plan for the Wisconsin BioAg Gateway, and as match for the first phase of the State-funded market feasibility analysis of the Wisconsin BioAg Gateway. This regional economic development initiative will be located in Tax Incremental Finance District 24 in the Southeast Industrial Area.
Body
Preamble
When the City created Tax Increment Finance District 24, one of the original objectives was to create the World Dairy Center, a business park/campus for agriculture corporate offices, research and development, high technology, showroom and support services for agri-businesses. Although TID 24 has been very successful in retaining and attracting a variety of manufacturing businesses, the focus on agriculture-related business and manufacturing has not happened. The Wisconsin BioAg Gateway project offers the opportunity to accomplish the City's original objectives for investing in this area and to leverage additional private sector investment, more tax base and more direct revenue to the City.
The Wisconsin BioAg Gateway Campus is a major economic development initiative proposed for Madison's World Dairy Center business park located in TID 24. Through the facilities that would be available at this campus, cutting edge technologies in agriculture, biotechnology, and manufacturing will be brought together to produce and commercialize products and services.
The campus as currently proposed will have 3 components and be developed in phases:
· A Controlled Environment Agriculture (CEA) Incubator and an Advanced Commercialization Greenhouse - the Midwest BIOLINK.
· A business park that will serve both as a location for businesses growing out of the incubator/greenhouse and for attracting related businesses that will contribute to the campus.
· A discovery center and agricultural showcase for field testing, education, and training.
Oversight, marketing, and implementation of projects will be provided by the Wisconsin BioAg Institute, an organization comprised of stakeholders and experts in the field of bio-agriculture.
To move ahead with this project three actions need to happen:
1. Secure the land identified for this initiative.
2. Complete a rigorous market feasibility/business operations plan for the lynchpin project in this initiative, the Biolink facility (a controlled environment incubator / greenhouse).
3. Complete the concept development, presentation/marketing materials and initial commitments from other funders.
Because of its involvement in other economic development initiatives such as the Capitol Ideas Tech Zone and Venture Debt program, Madison Development Corporation has agreed to apply for a state grant, facilitate and coordinate activities related to market feasibility, outreach, and grant management and to help the initiative get off the ground.
WHEREAS, the City of Madison supports economic development within the City; and
WHEREAS, Tax Incremental Finance District 24 was established to make Madison more attractive to manufacturers, research and development firms, and other industrial firms; and
WHEREAS, the heritage of innovation in the agricultural and life sciences has been a cornerstone in the economic development of the City of Madison; and
WHEREAS, the potential exists to build on that heritage and grow the local economy through the support of agricultural and bio-technology businesses; and
WHEREAS, the Madison area is in a unique position to become a center for the commercialization of these new technologies in the bio and ag-business clusters; and
WHEREAS, the potential for the support of this industry cluster was specifically identified in the "Capitol Region Technology Zone" application the City of Madison, in partnership with the Cities of Middleton, Fitchburg, Monona, the Town of Madison and Dane County made to the State in their successful application for Technology Zone tax credits within the service area in 2002; and
WHEREAS, to take advantage of the opportunities within this emerging technology industry, it is necessary to study and plan for the Wisconsin BioAg Gateway; and
WHEREAS, due to its proximity to the Wisconsin Department of Agriculture, Trade, and Consumer Protection and its consistency with an adopted Tax Incremental Finance District project plan, the BioAg Gateway is proposed for lands within the World Dairy Center business park; and
WHEREAS, incubator facilities and research centers are key for the commercialization of these technologies; and
WHEREAS, the City wishes to support the implementation of the BioAg Gateway as the location for such facilities; and
WHEREAS, Madison Development Corporation (MDC) has served as the administrator for the Capitol Ideas Technology Zone, the Venture Debt program, and has the resources and experience in managing studies of this nature;
NOW, THEREFORE BE IT RESOLVED, that the City is authorized to enter into a Purchase of Services Contract with the Madison Development Corporation to provide $20,000 as match if a first phase State-funded Community-Based Economic Development grant is funded through the Wisconsin Department of Commerce, and up to $20,000 to support the development of more detailed concept development, marketing, and associated organizational issues as part of the market feasibility plan.
BE IT FURTHER RESOLVED, that the Department of Planning and Development will be the City's liaison in the performance of the contractual services performed by MDC, and will involve and engage other City departments and agencies as necessary in the completion of the market feasibility plan, conceptual development plan, and marketing plan.
BE IT STILL FURTHER RESOLVED that any and all materials developed over the course of the contract shall be provided to the City and shall be available for economic development promotion activities.
BE IT FINALLY RESOLVED, that the Mayor and City Clerk are hereby authorized to execute, deliver, and record such documents and to take such other actions as shall be necessary or desirable to accomplish the purposes of this Resolution.