City of Madison - File #: 51872

• File #: 51872
• Version: 2
• Name: SUBSTITUTE - Authorizing the Acceptance of a Brownfields Grant from the Wisconsin Economic Development Corporation (WEDC) and amending the 2018 Adopted Capital Budget to accept and appropriate the total grant amount of $472,000.
• Type: Resolution
• Status: Passed
• File created: 5/25/2018
• In control: FINANCE COMMITTEE
• On agenda: 6/19/2018
• Final action: 6/19/2018
• Enactment date: 6/25/2018
• Enactment #: RES-18-00474
• Title: SUBSTITUTE - Authorizing the Acceptance of a Brownfields Grant from the Wisconsin Economic Development Corporation (WEDC) and amending the 2018 Adopted Capital Budget to accept and appropriate the total grant amount of $472,000.
• Sponsors: Marsha A. Rummel, Paul R. Soglin

Date	Ver.	Action By	Action	Result
6/19/2018	2	COMMON COUNCIL	Adopt - 15 Votes Required	Pass
6/11/2018	2	FINANCE COMMITTEE	RECOMMEND TO COUNCIL TO ADOPT (15 VOTES REQUIRED) - REPORT OF OFFICER	Pass
6/5/2018	1	COMMON COUNCIL	Refer	Pass
5/25/2018	1	Economic Development Division	Referred for Introduction

Fiscal Note
The proposed resolution authorizes acceptance of a $472,000 Brownfields Grant from the Wisconsin Economic Development Corporation. The 2018 Adopted Capital Budget includes $1,825,000 of funding for Garver at Olbrich Botanical Complex project within the Parks Division, these funds will serve as the required matching funds. No additional City appropriation is required. If adopted, total funding for the project will be $2,324,000.
Title
SUBSTITUTE - Authorizing the Acceptance of a Brownfields Grant from the Wisconsin Economic Development Corporation (WEDC) and amending the 2018 Adopted Capital Budget to accept and appropriate the total grant amount of $472,000.
Body
WHEREAS, the City of Madison accepted the proposal of Baum Development for the adaptive reuse and rehabilitation of the Garver Feed Mill Building (the “Building”) on April 21, 2015 and closed on the transfer of the Building and ground lease on December 4, 2017, and;

WHEREAS, the adaptive reuse and rehabilitation of the Building will require the construction of a new road, stormwater ponds, parking and utilities (the “Improvements”), to serve the Building and;

WHEREAS, the Improvements will require extensive soil remediation, a necessary pre-condition to redevelopment and;

WHEREAS, the City of Madison has applied to the Wisconsin Economic Development Corporation (WEDC) Brownfields Grant Program (the “Grant”) for $472,000 to assist in the construction of the Improvements, and;

WHEREAS, the WEDC Brownfields Grant Program has awarded $472,000 to facilitate the construction of the Improvements at the Building, and;

WHEREAS, the WEDC Grant can only provide up to 30% of project costs, and;

WHEREAS, the total estimated cost of the reconstruction of the Building and Improvements is $20,166,500, and;

WHEREAS, the City of Madison has committed $1,825,000 of funding in the Garver at Olbrich Botanical Complex project within the 2018 Parks Division Capital Budget, which WEDC will count towards ...