Fiscal Note
Funds are available in Account No. ESTM-58110-810388-00-53B0963, for the acquisition costs, relocation expenses, and closing costs related to the acquisition of 311 N. Marquette Street. Total costs are estimated at $ 237,000.
Title
Authorizing the acceptance of an offer to sell a residential property located at 311 N. Marquette Street to facilitate Starkweather Creek bank stabilization activities.
Body
PREAMBLE
A residential property located as 311 North Marquette Street abuts Starkweather Creek at Darbo Drive. The garage structure is within 10 feet of the creek bank and the house structure is within 15 feet. The creek bank is stabilized with vertical steel sheeting that has been gradually failing and in need of replacement. The failing sheeting has been the concern of the abutting property owners for several years. Current regulatory permitting will likely not allow vertical steel sheeting bank replacement.
Regardless, any construction will require the removal of the adjacent garage. Furthermore, the existing soil conditions have a high risk that the situation could be repeated in 20-25 years.
The City has no easements on the subject property, further complicating any repair project. In addition, current environmental standards would not allow structures to be constructed closer than 75 feet from the Creek's normal edge of water. Therefore, the City Engineer, in consultation with the City Attorney, believes it is prudent to purchase the property to construct a more desirable shoreline treatment. Partial or complete removal of the structure shall then be considered in conjunction with bank treatment alternatives and final disposition of the property.
Acquisition of the property has the additional advantage of providing additional shoreline and open space along Starkweather Creek.
The owners of 311 N. Marquette have negotiated the sale of their property with the City of Madison's Real Estate Section and have submitted an offer to sell their property to the City for the purchase price of $205,000 The purchase price is established by appraisals prepared for the owners and the City of Madison. The property owners are also eligible for relocation benefits established by Wisconsin Statutes
NOW, THEREFORE, BE IT RESOLVED that the Common Council of the City of Madison (the "Council") authorizes the acceptance of an Offer to Sell from Keith B. Hildebrand and Carla Littel-Hildebrand (collectively, the "Sellers") for their homestead property located at 311 N. Marquette Street (the "Property"), to perform repairs to a portion of Starkweather Creek bank.
BE IT FURTHER RESOLVED that the conditions of the sale include the following:
· The purchase price for the Property is $205,000.00, and the closing shall occur on or before November 1, 2006.
· The Sellers are permitted a post-closing occupancy limited only to the members of the immediate family.
· The City shall pay applicable closing costs and relocation costs as established under the guidelines of Wisconsin relocation law and regulations
BE IT FURTHER RESOLVED that $32,000 be encumbered to fund relocation costs, pro rated taxes, and relocation costs, the final amount being determined in accordance with State Law; and,
BE IT FURTHER RESOLVED that the Mayor and City Clerk are authorized to sign any and all documents related to this acquisition that are necessary to complete the purchase.