Fiscal Note
Funds are included in the 2013 Parks Capital Budget: Project Number 23, Central Park, Acct. No. 810625
Total Project Cost: $ 4,000,000
Federal Share: $ 3,150,000
City Share: $ 850,000
Title
Authorizing the Mayor and City Clerk to enter into a revised agreement with the Wisconsin Department of Transportation for the construction of Central Park. (6th AD)
Body
PREAMBLE
The City of Madison and Wisconsin Department of Transportation entered into an agreement authorized by Resolution File ID 24562, RES-12-00130 for the construction of Central Park.
The City is proposing construction of the Central Park project, an urban park located in the East Isthmus Corridor on the near east side. The project has been approved for approximately $3.1 million of federal funding, the federal funds require a 20% local match. Design will be funded with 100% local funds. Funds for design were included in the 2011 Capital Budget. Funds for the construction of Phase I of this project are available in the 2013 Capital Budget.
A revised agreement has been prepared with updated costs and phases of construction. Construction of the first phase is scheduled for 2013.
The agreement with the State of Wisconsin Department of Transportation for cost sharing defines the terms under which the City is awarded Federal funds and the agreement requires that the City indemnify the State of Wisconsin Department of Transportation. City APM 1-1 requires Common Council approval whenever the City indemnifies another party.
The proposed indemnification language in the Project Agreement has been reviewed by the Risk Manager. While the City’s risk exposure is increased by this agreement, the exposure is covered by the City’s insurance policy subject to its terms and conditions. Any impact on costs would not be immediately known.
BE IT RESOLVED that the Mayor and City Clerk are hereby authorized to execute amendments to the original agreement with the Wisconsin Department ...
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