Fiscal Note
No fiscal impact.
Title
SUBSTITUTE Authorizing an exchange of lands between the City of Madison and Cherokee Park, Inc., to correct title to a portion of Cherokee Marsh North and a portion of Cherokee Golf Course.
Body
On June 06, 2008, the City of Madison (the “City”) purchased Outlot 1 of Certified Survey Map (“CSM”) No. 12439 and Outlot 1 of CSM No.12293 (collectively, the “2008 Purchase”). Subsequent field work by City of Madison Parks Department and Cherokee Park, Inc. (“CPI”) revealed that a portion of CPI’s golf course lands were encroaching into the lands purchased by the City. During discussions to correct the problem, the City agreed to convey the golf course lands back to CPI in exchange for the conveyance of a portion of Lot 1 of CSM No. 12293 that was not conveyed during the 2008 Ppurchase.
CSM No. 12879, recorded on March 29, 2010 as Doc. No. 4644449 was created to establish the correct the boundaries between the City lands and CPI lands, in anticipation of the exchange of future conveyances to correct ownership interests and to clarify record title between the City and CPI within said CSM the boundary of CSM No. 12879.
On April 21, 2010, the City purchased Outlot 2 of CSM No. 12879, with CPI retaining ownership to Outlot 4 of CSM No. 12879. At this point, the boundaries and ownership interests were correct, with the exception of the agreed upon exchange between the City and CPI for the encroaching golf course lands and a portion of the lands located in Lot 1 CSM No. 12293 lands.
After the exchange, the corrected ownerships will correspond with the Outlot boundaries established in CSM No. 12879, with the City owning Outlots 1 and 2 and CPI owning Outlots 3 and 4 of CSM No. 12879. These corrected ownership interests and CSM boundaries are legally described in attached Exhibit A and depicted in a map attached as Exhibit B.
The lands included in the 2008 Purchase were conveyed to the City, subject to certain interests in the ...
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