Fiscal Note
This resolution establishes a process for payment for municipal services similar to certain other tax-exempt properties. While the residential structures proposed to be constructed on this property will be taxable, a payment for municipal services will be calculated in the event that the residences become tax exempt in the future. Those payments will be based on a per unit cost to provide certain essential city services, such as public safety and health, parks, streets, fixed route and paratransit services, traffic engineering, debt service and Library services. No appropriation is necessary and no revenues are anticipated in the current year.
Title
Authorizing the Mayor and City Clerk to sign an Agreement with Holy Name Catholic Center Inc, for payment of municipal services.
Body
WHEREAS, on December 2, 2014, the Common Council adopted Ordinance Number 14-00170 rezoning property at 702 South High Point Road to change the zoning from A (Agricultural) and SR-C1 (Suburban Residential - Consistent 1) Districts to PD (GDP and SIP) District to allow construction of market rate apartments.; and
WHEREAS, the above rezoning was conditioned on Holy Name Catholic Center, Inc. (HNCC) executing an agreement with the City of Madison requiring it to make a payment reflecting the value of municipal services provided to the proposed development on the rezoned site for any year in which the proposed development is exempt from paying property taxes.
NOW, THEREFORE, BE IT RESOLVED that the Common Council of the City of Madison hereby authorizes the Mayor and City Clerk to sign an Agreement with HNCC on the following terms and conditions:
1. In recognition of the value of municipal services provided to HNCC and in further recognition of the economic impact the provision of such services has on the City, HNCC shall make an annual payment for municipal services (PMS) to the City for the portion of the property at 702 South High Point Road used for apartments...
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