City of Madison - File #: 49158

• File #: 49158
• Version: 2
• Name: 11385 Truman Olson RFP Disposal
• Type: Resolution
• Status: Passed
• File created: 10/10/2017
• In control: FINANCE COMMITTEE
• On agenda: 10/31/2017
• Final action: 10/31/2017
• Enactment date: 11/3/2017
• Enactment #: RES-17-00869
• Title: SUBSTITUTE - Approving the issuance of a Request for Proposals (RFP) for the sale of 1402 South Park Street, the former Truman Olson United States Army Reserve Center, (the “Property”) and establishing a process for the review of responses to the RFP and selection of a buyer for the Property.
• Sponsors: Sara Eskrich, Sheri Carter

Date	Ver.	Action By	Action	Result
10/31/2017	2	COMMON COUNCIL	Adopt	Pass
10/23/2017	2	FINANCE COMMITTEE	RECOMMEND TO COUNCIL TO ADOPT - REPORT OF OFFICER	Pass
10/17/2017	2	COMMON COUNCIL	Refer	Pass
10/10/2017	1	Economic Development Division	Referred for Introduction

Fiscal Note
The proposed resolution approves issuance of a Request for Proposal (RFP) and establishes a Selection Committee, made up of three City staff and the alders from the 13th and 14th Districts, for the sale of the former Truman Olson United States Army Reserve Center (“Property”). This property was purchased by the City in 2012 for an estimated $1,078,600 as part PCED’s 2012 Adopted Capital Budget for TID 42 - Wingra. The City desires to dispose of the property while implementing the City’s adopted Wingra BUILD Plan (development and redevelopment plan for this area). The Wingra BUILD Plan calls for an extension of Cedar Street through the Property and the sale of the balance of the Property for redevelopment. Issuance of the RFP will be to all adjacent property owners to achieve the goals listed in the proposed resolution and attached white paper. The proceeds of the sale will be directed by City Council at such time as the Council approves a resolution authorizing the execution of a Purchase and Sale Agreement for the sale of the property.
Title
SUBSTITUTE - Approving the issuance of a Request for Proposals (RFP) for the sale of 1402 South Park Street, the former Truman Olson United States Army Reserve Center, (the “Property”) and establishing a process for the review of responses to the RFP and selection of a buyer for the Property.
Body
WHEREAS the City of Madison acquired the Property from the United States Department of the Army; and

WHEREAS the City of Madison intends to comply with the intent of Legistar #27233 (Enactment No RES-12-00655) (the “Resolution”) which states that the Property be used “for economic development purposes, including the demolition of the improvements located thereon and the extension of Cedar Street through the Property, as outlined in the City’s Wingra BUILD Plan” thereby implementing the plan submitted to the Federal Government related to the redevelopment of the Property; and

WHEREAS the City of Madison desires to d...