Fiscal Note
The 2005 Parking Utility Capital Budget authorizes $11,105,000 for this project, funded with Parking Utility resources and $5,000,000 from the sale of air rights above the new facility. This resolution authorizes use of staff resources to create a redevelopment district and negotiate the terms of a proposed development agreement in anticipation of development at this site.
Title
AMENDED - Conditionally accepting the Proposal from Statehouse West, LLC for a Mid-State Street Parking and Mixed-Use Facility, authorizing staff to negotiate the terms of the disposition of the Buckeye Lot, and for staff to submit to the Common Council the terms and conditions of any sale or redevelopment, and authorizing the Parking Utility to release a Request for Proposals for architectural and design services for an underground short-term parking facility to replace the existing Buckeye Lot.
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WHEREAS, the Common Council adopted Amended Third Substitute Resolution 61726 on July 20, 2004, which authorized the release of a Request for Proposals (RFP) for the redevelopment of the Buckeye Lot as a mixed-use project including parking available to the public; commercial, and residential development; and
WHEREAS, as an element of Amended Third Substitute Resolution 61726, City staff were authorized to release the RFP, receive proposals, and along with City staff, community stakeholders, and at least two (2) members of the Transit and Parking Commission and one (1) member of the Board of Estimates (the Evaluation Team), review them against the criteria identified in the RFP, and prepare any and all documents necessary to bring a project back to the Council for adoption and implementation; and
WHEREAS, the City did prepare and release an RFP, which indicated proposals to which were to be received by November 15, 2004; and
WHEREAS, the City did receive one proposal for the project from Statehouse West, LLC (Statehouse West); and
WHEREAS, Statehouse West's proposed development concept includes approximately 8,125 square feet of retail, fifty (50) owner-occupied condominium units with 63 underground parking stalls, and 229 public parking stalls; and
WHEREAS, Statehouse West's response to the RFP was reviewed by the Evaluation Team on January 12, 2005, against the criteria contained in the RFP; and
WHEREAS, the Evaluation Team determined that the proposal was responsive to the RFP; and
WHEREAS, to implement such a plan may require the acquisition and removal through either relocation, recycling, or demolition, of the properties at 219, 221 and 223 West Gilman Street; and
WHEREAS, the underground public parking stalls be designed, constructed, owned and operated by the Parking Utility; and
WHEREAS, to construct the underground parking, the Parking Utility will need to engage the services of an architectural and engineering firm; and
WHEREAS, Statehouse West will need the City's cooperation and may need the City's financial participation to construct and complete the Mid-State Street project; and
WHEREAS, the development proposed by Statehouse West is in conformance with the goals of The State Street Strategic Plan and Tax Increment District Number 32.
NOW, THEREFORE, BE IT RESOLVED, that the Common Council does hereby concur with the findings of the Evaluation Team that the proposal submitted by Statehouse West for the development of the Mid-State Street Mixed-Use and Parking Facility, is responsive to the RFP released by the City.
BE IT FURTHER RESOLVED, that in order to proceed with the development of the project, the Common Council requests that the Community Development Authority of the City of Madison create a redevelopment district to facilitate the construction of the Mid-State Street Mixed-Use and Parking Facility through the potential acquisition of any properties that Statehouse West is not able to acquire to complete the development plans, and to protect the City's interest in constructing the underground parking.
BE IT FURTHER RESOLVED, that in order to timely begin design development of the underground parking for the Parking Utility, and to coordinate the engineering of the ramp with the air rights development that the Parking Utility is hereby authorized to prepare and release an RFP for architectural and engineering services for the Mid-State Street Ramp.
BE IT STILL FURTHER RESOLVED, that the Common Council does hereby direct staff from the Departments of Planning and Development, Parking Utility, Engineering, Traffic Engineering, City Attorney, and City Comptroller and the other members of the Evaluation Team to work exclusively with Statehouse West regarding the:
1. Terms of sale of the Buckeye Lot, air rights development, and all other matters relating to the financing of the development.
2. To pursue easements and / or leases in the public rights-of-way as required for the footings of all the air shafts and facade encroachments, for both the underground parking and any associated air rights development.
3. Public financial participation needed to enable the project to move forward.
4. The public rights-of-way along West Gorham, West Gilman, and Lisa Link Peace Park that may be needed for staging the construction.
BE IT FINALLY RESOLVED, that City staff will continue to negotiate with the developer on the terms and conditions of any sale and bring a Resolution back to Council for adoption and implementation.