Fiscal Note
Funds are available in Account CD21-58210-810433. See 2004 Adopted Capital
Budget Planning and Development Project #32 "Badger-Ann-Park and Todd
Drive-Beltline Revitalization Project", page 295. No appropriation is necessary.
There is no anticipated impact upon cost controls.
Title
Authorizing funds for the demolition of an 8-unit apartment building located at 902 Magnolia Lane. 14th Ald. District.
Body
PREAMBLE
On September 21, 2004 the Common Council adopted a resolution (Second Substitute Resolution No. 61839 ID No. 3556) determining a public purpose and necessity to acquire an 8-unit apartment building located at 902 Magnolia Lane ("Property") for park purposes. Pursuant to the recommendations of the Badger-Ann-Park Redevelopment Committee, the City has been working cooperatively with the Madison Metropolitan School District ("MMSD") to address the lack of open space in the neighborhood immediately surrounding the Property and the overall park deficiency in the Badger-Ann-Park Street area by developing an open space area that would include the southeastern corner of the MMSD's Lincoln School property and the Property. As part of this collaborative effort the City and MMSD are also exploring MMSD's use of a portion of Leopold Park for Aldo Leopold School and the City's use of the Lincoln School playground during the summer months. The acquisition of the Property will further strengthen this collaborative effort. In addition to providing open space for the neighborhood this acquisition will eliminate a problem property from the neighborhood. Since January 2005 the City of Madison Police Department have responded to numerous calls to the Property and issued drug abatement letters for some tenants of the Property.
On May 27, 2005, the Real Estate Section purchased the Property now being managed by Broihahn Management & Consulting, LLC. Leases for existing tenants expire on November 30, 2005. Funds for the acquisition of the Pro...
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