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File #: 82283    Version: 1 Name: 4786 Marty Century Farm Acquisition
Type: Resolution Status: Passed
File created: 2/27/2024 In control: FINANCE COMMITTEE
On agenda: 3/19/2024 Final action: 3/19/2024
Enactment date: 3/22/2024 Enactment #: RES-24-00212
Title: Authorizing the negotiation and execution of a Purchase and Sale Agreement between the City of Madison and VH Acquisitions, LLC, or its successors and assigns, for the City’s acquisition of multiple parcels of land near the intersections of Marty Road, Mid Town Road, and Raymond Road, and Amending the adopted 2024 Engineering-Major Streets and 2024 Stormwater Utility Capital Budgets. (District 1 and District 20)
Sponsors: John W. Duncan, Barbara Harrington-McKinney, Nasra Wehelie, Charles Myadze
Attachments: 1. PC Locator Maps.pdf, 2. Purchase & Sales Agreement.pdf, 3. Link to High Point-Raymond NDP (ID 47681)
Related files: 47681
Date Ver.Action ByActionResultAction DetailsMeeting DetailsWatch
3/19/20241 COMMON COUNCIL Adopt - 15 Votes RequiredPass Action details Meeting details Not available
3/13/20241 BOARD OF PARK COMMISSIONERS Return to Lead with the Recommendation for ApprovalPass Action details Meeting details Not available
3/11/20241 PLAN COMMISSION Return to Lead with the Recommendation for ApprovalPass Action details Meeting details Not available
3/11/20241 FINANCE COMMITTEE RECOMMEND TO COUNCIL TO ADOPT (15 VOTES REQUIRED) - REPORT OF OFFICERPass Action details Meeting details Not available
3/6/20241 BOARD OF PUBLIC WORKS Return to Lead with the Recommendation for ApprovalPass Action details Meeting details Not available
3/5/20241 FINANCE COMMITTEE Referred  Action details Meeting details Not available
3/5/20241 FINANCE COMMITTEE Referred  Action details Meeting details Not available
3/5/20241 FINANCE COMMITTEE Referred  Action details Meeting details Not available
3/5/20241 COMMON COUNCIL ReferPass Action details Meeting details Not available
2/27/20241 Economic Development Division Referred for Introduction  Action details Meeting details Not available
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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