Fiscal Note
Est. cost not to exceed $25,000 (these are from the original approvals, not additional funds for this addendum)
Funds available in Acct. No. 14142-402-170: 54410 (96339)
Title
Approving Addendum No. 1 to 4649 Verona Road, Contract No. 9231 (District 10)
Body
WHEREAS, on June 15, 2023, the developer, Summit Ridge Apartments, LLC, hereinafter the “Developer” had entered into a Contract For the Construction of Public Improvements that will be Accepted by the City of Madison hereinafter the “Contract” with the City of Madison, and;
WHEREAS, the Developer and the City have since mutually agreed to revise the scope of work to remove the construction of the temporary cul-de-sac on Atticus Way and replace it with the planned street corner to directly connect to the City’s future construction of Rolling Way from Atticus Way to Red Arrow Trail.
NOW, THEREFORE, BE IT RESOLVE:
1. That the Mayor and City Clerk are hereby authorized and directed to execute Addendum No. 1 to 4649 Verona Road, Contract No. 9231, with Summit Ridge Apartments, LLC.
2. That the revised plans and specifications for the public improvements necessary to serve this project 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.
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.
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