City of Madison - File #: 01728

• File #: 01728
• Version: 1
• Name: TEA Grant Application
• Type: Resolution
• Status: Passed
• File created: 7/28/2005
• In control: BOARD OF ESTIMATES (ended 4/2017)
• On agenda: 9/6/2005
• Final action: 9/6/2005
• Enactment date: 9/8/2005
• Enactment #: RES-05-00700
• Title: Authorizing the City to apply for a State Department of Transportation (DOT) Transportation Facilities Economic Assistance (TEA) Grant Application, and authorizing the Mayor and City Clerk to execute a TEA Jobs Guarantee with the State DOT, and to execute a Project Agreement with Mortenson Investment Group (a developer) for a transportation infrastructure project on Todd Drive and West Beltline Frontage Road.
• Sponsors: Tim Bruer

Date	Ver.	Action By	Action	Result
9/6/2005	1	COMMON COUNCIL	Adopt	Pass
8/29/2005	1	BOARD OF ESTIMATES (ended 4/2017)	RECOMMEND TO COUNCIL TO ADOPT - REPORT OF OFFICER	Pass
8/17/2005	1	BOARD OF PUBLIC WORKS	Return to Lead with the Recommendation for Approval	Pass
8/3/2005	1	ECONOMIC DEVELOPMENT COMMITTEE	Return to Lead with the Recommendation for Approval	Pass
8/2/2005	1	COMMON COUNCIL	Refer
8/2/2005	1	BOARD OF ESTIMATES (ended 4/2017)	Refer
8/2/2005	1	BOARD OF ESTIMATES (ended 4/2017)	Refer
7/28/2005	1	Planning Unit	Fiscal Note Required / Approval
7/28/2005	1	Finance Dept/Approval Group	Approved Fiscal Note By The Comptroller's Office
7/28/2005	1	Planning Unit	Referred for Introduction

Fiscal Note
The estimated cost of this project is approximately $8,992,000. Anticipated funding sources are as follows:

State DOT TEA Grant $1,000,000
Federal HES $675,000
Federal Enhancement $888,000
State DOT/FHWA $5,825,000
City of Madison $604,000
Total Project Costs $8,992,000


Authorization for this project must be included in the 2006 Capital Budget, with the $604,000 City share funded by General Obligation Borrowing. In addition, the City is exposed to a potential loss of up to $1,000,000 in the event of a contract default.

Title
Authorizing the City to apply for a State Department of Transportation (DOT) Transportation Facilities Economic Assistance (TEA) Grant Application, and authorizing the Mayor and City Clerk to execute a TEA Jobs Guarantee with the State DOT, and to execute a Project Agreement with Mortenson Investment Group (a developer) for a transportation infrastructure project on Todd Drive and West Beltline Frontage Road.
Body
WHEREAS, Mortenson Investment Group (MIG), a Madison Developer, desires to redevelop private property along Todd Drive and the West Beltline Frontage Road and create new employment centers for several existing and new enterprises (the "Project"); and

WHEREAS, Mortenson Investment Group, will renovate and/or create the following new employment centers for prospective enterprises (the Landmark Gate Building, the Sergenian's Building, the Landmark Oaks Building, the M-3 Building, the Inacom Building, and the Landmark Building) along Todd Drive and the West Beltline Frontage Road, and

WHEREAS, certain transportation infrastructure improvements, including road, retaining walls, highway metered and unmetered ramps, sidewalk improvements and r...