Fiscal Note
The total purchase price is anticipated to be $3,655,440. The land acquisition comprises Stormwater lands, Street right-of-way (ROW) and Park lands.
The proposed resolution amends the Stormwater Utility and Major Streets 2024 Adopted Capital Budgets to provide the funding required for the Stormwater lands in this acquisition (approximately $1,389,420).
· The Stormwater Utility Capital Budget has $218,515 of existing budget authority in the Flood Mitigation program (Munis 11513) for a Wisconsin Department of Natural Resources (DNR) Flood Control Grant for this acquisition. The proposed resolution authorizes the transfer of the DNR grant budget in the Flood Mitigation program to the High Point & Raymond Rd project in the Major Streets Capital Budget (Munis 12454). Additionally, $420,905 of Stormwater Non-GF GO budget would be transferred from the Flood Mitigation program to the High Point & Raymond Rd project. Both of these transfers would be net-neutral.
· The Major Streets Capital Budget would be amended to increase funding from Impact Fees (Stormwater-Upper Badger Mill Creek) by $450,000, Stormwater Non-GF GO Borrowing by $250,000, and Stormwater Utility Reserves by $50,000 in the High Point & Raymond Rd project (Munis 12454). These costs were originally planned in the year 2027 of the 2024 Capital Improvement Plan (CIP) in the High Point & Raymond Rd project.
The Street ROW in this acquisition (approximately $252,180) will be funded with existing budget authority in the High Point & Raymond Rd project in the Major Streets Capital Budget (Munis 12454).
The Park lands in this acquisition (approximately $2,013,840) will be funded with existing budget authority in the Land Acquisition program (Munis 17128) in the Parks Division Capital Budget. In addition, 12.172 acres of the land to be acquired for park purposes will be dedicated to meet park and open space requirements.
Title
Authorizing the negotiation and execution of a Purchase and Sale Agree...
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