Fiscal Note
Funding of up to $40,000 from available TIF proceeds is included in the $2,515,000 budgeted for the TID 24 project (P&D 2006 Adopted Capital Budget project #10, Account #822401).
Title
Authorizing the Mayor and City Clerk to enter into a Purchase Of Services contract with Madison Development Corporation for an amount not to exceed $40,000 to assist in the preparation of a concept development plan, marketing development plan for the Wisconsin BioAg Gateway, and as match for the first phase of the State-funded market feasibility analysis of the Wisconsin BioAg Gateway. This regional economic development initiative will be located in Tax Incremental Finance District 24 in the Southeast Industrial Area.
Body
Preamble
When the City created Tax Increment Finance District 24, one of the original objectives was to create the World Dairy Center, a business park/campus for agriculture corporate offices, research and development, high technology, showroom and support services for agri-businesses. Although TID 24 has been very successful in retaining and attracting a variety of manufacturing businesses, the focus on agriculture-related business and manufacturing has not happened. The Wisconsin BioAg Gateway project offers the opportunity to accomplish the City's original objectives for investing in this area and to leverage additional private sector investment, more tax base and more direct revenue to the City.
The Wisconsin BioAg Gateway Campus is a major economic development initiative proposed for Madison's World Dairy Center business park located in TID 24. Through the facilities that would be available at this campus, cutting edge technologies in agriculture, biotechnology, and manufacturing will be brought together to produce and commercialize products and services.
The campus as currently proposed will have 3 components and be developed in phases:
ยท A Controlled Environment Agriculture (CEA) Incubator and an Advanced Commercialization G...
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