Fiscal Note
The proposed City share of $100,000 is available in the Department of Planning and Development 2006 Capital Budget, Preliminary Planning, Account #810425.
Title
Authorizing the Mayor and City Clerk to enter into an agreement with Common Wealth Development, Inc., to provide $100,000 in matching funds for preparation of a detailed market, site analysis and other key pre-development and outreach tasks associated with the development of a Madison Public Market.
Body
WHEREAS, Common Wealth Development, Inc., has previously received funding from other sources including U.W.-Extension, Madison Community Foundation, the Wisconsin Department of Commerce, and in-kind support from Common Wealth and Blue Planet Partners, which was used for preliminary site analysis; and
WHEREAS, the Department of Planning & Development has received a request from Common Wealth Development, Inc., for funding assistance to prepare a detailed site selection, market analysis plan and to complete other key pre-development and outreach tasks (collectively, the Project) for the proposed Madison Public Market; and
WHEREAS, the fee for the work to complete the project is estimated at $264,000; and
WHEREAS, Common Wealth Development, Inc., has applied for a pre-development grant from the Madison Community Foundation (MCF) to fund the preparation of the Project; and
WHEREAS, the Madison Community Foundation agreed at its October 18, 2006, Board Meeting to fund the project for $50,000 with another $50,000 to be proposed to the Board of Directors once a thorough and positive market research study has been completed. In adddition, MCF has already provided $32,000 of funding support for this project; and
WHEREAS, Common Wealth Development, Inc., has requested an additional $65,000 from other sources to supplement the funds from the Madison Community Foundation and the City of Madison, and
WHEREAS, Common Wealth Development, Inc., has requested $100,000 in funds ...
Click here for full text