Fiscal Note
The proposed resolution authorizes the Parks Division to apply for and accept if awarded, grant funding from the State of Wisconsin Grants for Local Projects Program. The grant will fund a portion of the costs of improvements at Breese Stevens Field. The City must demonstrate that it has $4,000,000 in match funding for this project. The Parks Division’s 2024 Adopted Capital Budget authorizes $200,000 for Breese Stevens Improvements within the Park Facility Improvements Major. If the grant is awarded, the Parks Division 2024 Adopted Capital Budget will be amended to reflect a total project cost of up to $8,000,000 and appropriate the grant funding of up to $4,000,000. The Economic Development Division’s 2024 Adopted Capital Budget will be amended to add $2,000,000 in new City-issued General Obligation borrowing authorization to the Breese Stevens Field Improvements to support overall project costs. The resolution also directs City staff to pursue an amendment to the TID #36 Project Plan from the TIF Joint Review Board to utilize up to $2,000,000 in TID #36 funding in lieu of GO borrowing. If the Project Plan amendment is approved, TIF funding would replace GO Borrowing. The resolution also amends the 2024 Adopted Capital Budget of the Parks Division to appropriate $1,800,000 in Park Impact Fees ($1,300,000 from City-Wide and $500,000 from North District) to the Breese Stevens Field Improvements Project Munis #15039, within Park Facility Improvements Program MUNIS Major #17443.
Title
Authorizing the Parks Division to submit, and if awarded, to accept a grant of $4,000,000 from the State of Wisconsin Grants for Local Projects Program for the Breese Stevens Field Improvement Project and authorizing the Mayor and City Clerk to enter into a contract with the State of Wisconsin to accept the grant award; and amending the 2024 Adopted Capital Budget of the Economic Development Division and the Parks Division. (District 6)
Body
WHEREAS, the State of Wisconsin Department of Administration has established the Grants for Local Projects program, an initiative dedicated to supporting non-state organizations in their pursuit of construction projects with a statewide public purpose; and,
WHEREAS, Breese Stevens Field offers professional sports, outdoor concerts, and other activities that attract visitors to downtown Madison and the historic facility; and,
WHEREAS, improvements at Breese Stevens Field are necessary to maintain the same level of athletic activities, entertainment events, and other leisure and recreational festivities; and,
WHEREAS, improvements at Breese Stevens Field will position the facility to attract new sports teams and increase the flexibility of the uses of the space; and,
WHEREAS, the improvements include replacing the synthetic athletic field turf, which is at the end of its useful life, expanding the number of seats, improving the locker facilities, and contributing to the historic preservation of the building; and,
WHEREAS, the City’s request of $4,000,000 in Grants for Local Projects program funding requires a match of $4,000,000; and,
NOW, THEREFORE, BE IT RESOLVED that the Parks Division is authorized to apply for a Grants for Local Projects program grant to fund a portion of the costs of Breese Stevens Field Improvements project and take the following actions related to the Grant:
BE IT FURTHER RESOLVED that, if awarded the grant, the Mayor and City Clerk are authorized to sign a grant agreement with the State of Wisconsin Department of Administration for the Grants for Local Projects grant, in a format approved by the City Attorney, and any other documents necessary to comply with the grant requirements and to secure the grant funding; and,
BE IT FURTHER RESOLVED that, that if awarded the grant, the 2024 Adopted Capital Budget for Parks Division will be amended to appropriate the grant revenue of up to $4,000,000 and expenditures in the amount of the grant funds awarded with total project budget amended to up to $8,000,000; and,
BE IT FURTHER RESOLVED that the Economic Development Division’s 2024 Adopted Capital Budget is amended to appropriate an additional $2,000,000 of GO Borrowing to the Breese Stevens Field Improvements project.
BE IT FURTHER RESOLVED that City staff is directed to seek an amendment to the TID #36 Project Plan from the TIF Joint Review Board to utilize TID #36 funding in lieu of GO Borrowing, and if approved, to replace up to $2,000,000 of GO Borrowing with TID #36 funding.
BE IT FURTHER RESOLVED that the Parks Division 2024 Adopted Capital Budget is amended to appropriate $1,800,000 in Park Impact Fees to the Breese Stevens Field Improvement project within Park Land Improvements MUNIS Major 17443.
BE IT FINALLY RESOLVED that the Mayor and Clerk are hereby authorized to execute the above documents and any other documents related to this transaction in a form to be approved by the City Attorney.