Fiscal Note
The proposed resolution authorizes the execution of a Purchase and Sale Agreement between the City of Madison and Dane County. The City will sell approximately 4.93 acres of land to Dane County for $142,970 based upon an appraisal reviewed by both the County and the City’s Office of Real Estate Services. Any net proceeds following the transaction and associated closing costs will be deposited into the City’s General Land Acquisition Fund. No additional City appropriation is required.
Title
Authorizing the City’s execution of a Purchase and Sale Agreement between the City of Madison and Dane County for the County’s purchase of the property located at 7270 Maahic Way in the City of Madison. (District 16)
Body
WHEREAS, Dane County (the “County”) and the City of Madison (the “City”) are parties to that certain Lease, recorded as Document No. 5078421 on June 23, 2014 (the “Lease”) for the County’s use of 4.93 acres of City-owned land located at 7270 Maahic Way (the “Property”), which is legally described on Exhibit A and depicted on Exhibit B of the Purchase and Sale Agreement (“Agreement”) attached hereto; and
WHEREAS, the Property is a remnant of a former Streets Division chipping site that has been unused by the City and occupied by the County to facilitate the operations of the adjacent Dane County Rodefeld Landfill since 1994. The 2014 Lease was created to memorialize the existing and historic use, with no consideration payable; and
WHEREAS, the City maintained ownership of the Property so that portions thereof could be used for the eventual I-39/90 and US 12/18 beltline interchange project by the State of Wisconsin, which project was completed in 2023;
WHEREAS, a portion of the Property having been conveyed to the State for the highway project, the City doesn’t need or intend to use the Property; therefore, the City and Dane County have agreed that the transfer of ownership of the Property to the County, rather than the City’s continued administration of the Lease, would be efficient, practical and for the benefit of both parties.
NOW, THEREFORE, BE IT RESOLVED, that the Common Council of the City of Madison hereby authorizes the City’s execution of the Agreement between the City and the County for the purchase of the Property on substantially, though not exclusively, the terms and conditions contained in the Agreement attached hereto; and
NOW, THEREFORE, BE IT FINALLY RESOLVED that the Mayor and City Clerk are authorized to execute any other necessary documents, and take such other actions as shall be necessary or desirable to accomplish the purposes of this resolution, all in a form to be approved by the City Attorney.