City of Madison - File #: 03945

• File #: 03945
• Version: 1
• Name: Definitive Agreement with DJK Real Estate, LLC; new library branch in Grandview Commons
• Type: Resolution
• Status: Passed
• File created: 6/13/2006
• In control: BOARD OF ESTIMATES (ended 4/2017)
• On agenda: 7/18/2006
• Final action: 7/18/2006
• Enactment date: 7/20/2006
• Enactment #: RES-06-00608
• Title: Authorizing the Mayor and City Clerk to execute a Definitive Agreement with DJK Real Estate, LLC and accepting donations of lands and capital for the development of a new library branch to be located in Grandview Commons. 3rd Ald. Dist.
• Sponsors: Lauren Cnare, Larry Palm

Date	Ver.	Action By	Action	Result
7/18/2006	1	COMMON COUNCIL	Adopt	Pass
7/10/2006	1	PLAN COMMISSION	Return to Lead with the Recommendation for Approval	Pass
7/6/2006	1	MADISON PUBLIC LIBRARY BOARD	Return to Lead with the Recommendation for Approval	Pass
6/26/2006	1	BOARD OF ESTIMATES (ended 4/2017)	RECOMMEND TO COUNCIL TO ADOPT - REPORT OF OFFICER	Pass
6/20/2006	1	COMMON COUNCIL	Refer
6/20/2006	1	BOARD OF ESTIMATES (ended 4/2017)	Refer
6/20/2006	1	BOARD OF ESTIMATES (ended 4/2017)	Refer
6/13/2006	1	Attorney's Office	Fiscal Note Required / Approval
6/13/2006	1	Finance Dept/Approval Group	Approved Fiscal Note By The Comptroller's Office
6/13/2006	1	Attorney's Office	Referred for Introduction

Fiscal Note
The 2006 Library Capital Budget includes a new Eastside Branch Library (project #6). It anticipates the donation of land and planning funds in 2006, consistent with this agreement. This land donation is contingent upon the City commencing construction of a branch library on this site within 7 years.
Title
Authorizing the Mayor and City Clerk to execute a Definitive Agreement with DJK Real Estate, LLC and accepting donations of lands and capital for the development of a new library branch to be located in Grandview Commons. 3rd Ald. Dist.
Body
PREAMBLE
DJK Real Estate, LLC, and its affiliates, members of the Simon and Rosenberg families (collectively, "Donors") own and are developing Grandview Commons, a subdivision located on Cottage Grove Road. The Madison Public Library Board has identified a site within Grandview Commons as an appropriate location for a new library branch (the "New Library Branch") and has worked with Donors towards the development of and donations for the New Library Branch. The Common Council, by adoption of RES-06-00125 on February 21, 2006, authorized the execution of a non-binding Memorandum of Understanding between the City and Donors (the "MOU") which set forth the parties' preliminary intent to work towards development of and donations for the New Library Branch. The parties have since negotiated the terms and conditions of a binding agreement which addresses, among other matters, the timing of donations; deed restrictions; site plan approval; the Donors' reversionary rights; and the City's payment of common expenses for the New Library Branch.
NOW, THEREFORE, BE IT RESOLVED, that:
1. The Mayor and City Clerk are hereby authorized to execute a Definitive Agreement with DJK Real Estate, LLC, regarding the development of and donations for a New Library Branch to be located at Grandview Commons, which Agreement shall contain the following terms and conditions:
(a) Donated Property. The Donors will donate ...