Fiscal Note
No City Funds required. Private contract.
Title
Approving plans and specifications for public improvements necessary for the project known as 305 N Frances Street CSM Future Phase and authorizing construction to be undertaken by the Developer, Private Contract No. 9786. (District 2)
Body
WHEREAS, the developer, Core Madison Frances, LLC, has received the City of Madison's conditional approval for a one-lot certified survey map at 305 N Frances Street; and,
WHEREAS, Section 16.23(7) of the Madison General Ordinances and the conditions of approval require the developer to install the public improvements necessary to serve the development; and,
WHEREAS, Section 16.23(7) of the Madison General Ordinances allows the developer to install the improvements in construction phases provided that a Declaration of Conditions, Covenants, and Restrictions is executed for those lots included in future construction phases until such time as surety is provided to the City to guarantee the installation of the public improvements to serve said lots.
NOW, THEREFORE, BE IT RESOLVED:
1. That the Mayor and City Clerk are hereby authorized and directed to execute a Contract for the Future Construction of Public Improvements that will be accepted by the City of Madison for 305 N Frances Street CSM Future Phase, with Core Madison Frances, LLC, or designee with the approval of the City Engineer.
2. That the developer is authorized to construct the public improvements in accordance with the terms of the Future Phase 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: Reimbursement not to exceed the statutory limit for the cost of street improvements that benefit the City and abut lands owned by the City, in accordance with Section 16.23(7)(d)(6)(d).
3. 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, releases of deed restrictions, and other related documents as deemed necessary by the City Engineer associated with the phased development 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.
4. The developer shall be permitted to assign this contract with the approval of the City Engineer, and in a form to be approved by the City Attorney.