Fiscal Note
The proposed resolution rescinds RES-24-00131 (Legistar #81817) adopted on March 5, 2024 and approves revised plans and specifications for public improvements necessary for the project known as 1235 Regent Street to be undertaken by the developer, WHPC-Regent Street-Madison, LLC (Private Contract). The proposed resolution and revised plans clarify the expanded scope of required work for public improvements which now include S Charter Street Alley. No City Funds required. Private Contract.
Title
Approving plans and specifications for public improvements necessary for the project known as 1235 Regent Street and authorizing construction to be undertaken by the Developer, and Rescinding Resolution RES-24-00131. Private Contract No. 9391 (District 13)
Body
WHEREAS, the developer, WHPC-Regent Street-Madison, LLC, has received the City of Madison's conditional approval for a demolition permit to raze an auto repair garage, a Certified Survey Map, and a conditional use to construct a five-story mixed-use building at 1233 Regent Street, and,
WHEREAS, Section 16.23(9) of the Madison General Ordinances and the conditions of approval require the developer to install the public improvements necessary to serve the rezoning.
WHEREAS, the developer received approval for the project on March 13, 2024 by Resolution RES-24-00131, File No. 81817; and,
WHEREAS, the developer has requested to change the entity that will enter into the Contract For the Construction of Public Improvements that will be accepted by the City of Madison For 1235 Regent Street from Wisconsin Housing Preservation, Corp. to WHPC-Regent Street-Madison, LLC; and,
WHERAS, the scope of work for the required public improvements has increased from the March 14, 2024 approval to also include improvements in the S Charter Street Alley.
NOW, THEREFORE, BE IT RESOLVED:
1. That the Mayor and City Clerk are hereby authorized and directed to execute a Contract For the Construction of Public Improvements that will be accepted by the City of Madison For 1235 Regent Street, with WHPC-Regent Street-Madison, LLC.
2. That the plans and specifications for the public improvements necessary to serve the development are hereby approved.
3. That the developer is authorized to construct the public improvements in accordance with the terms of the Contract For the Construction of Public Improvements That Will be Accepted by the City of Madison at the sole cost of the developer, except as follows: NONE
4. That the Mayor and City Clerk are hereby authorized to sign and grant easements or right-of-way release or procurement documents, maintenance agreements or encroachment agreements, as necessary and grant or accept dedication of lands and/or easements from/to the Developer/Owner for public improvements located outside of existing public fee title or easement right-of-ways.
5. The Common Council is approved to accept ownership of the improvements in the Maintenance Area if a maintenance agreement is executed and recorded as a condition of this contract.
6. The developer shall be permitted to assign this contract for the purposes of obtaining financing in a form to be approved by the City Attorney.
7. The Resolution RES-24-00131, File No. 81817 is hereby rescinded.