Fiscal Note
Net revenues will increase by approximately $2,400 per year. These funds are included in the 2007 Traffic Engineering operating budget.
Title
Authorizing the Mayor and other City officials to execute agreements with HD Annex LLC and SSM Health Care of Wisconsin, Inc. for the operation and maintenance of traffic control signals at various locations.
Body
WHEREAS, HD Annex LLC and SSM Health Care of Wisconsin, Inc., desire that Madison operate and maintain traffic signals at various locations to maintain access to and from their respective developments; and
WHEREAS, such agreements were made as either a condition of City approval for the owner's current use of the identified properties or approval to install traffic signals; and
WHEREAS, the City of Madison will operate and maintain traffic signals at various locations with part or all of the cost reimbursed to the City of Madison by the corporations, according to the percentage formulae set forth in Table A;
BE IT RESOLVED, that the Mayor and other City officials be authorized to execute the appropriate agreements for the operation and maintenance of the traffic signals referred to in Table A for an initial term of forty (40) years renewable for subsequent terms.