Fiscal Note
The proposed resolution authorizes a revised agreement with WisDOT for the construction of Central Park (project no. 10525). The purpose of the revised agreement is to increase the City’s previously agreed upon contribution by $50,000 for the purchase of real estate. This resolution approves increasing the agreement by $50,000, which is included in the Parks Division 2015 Adopted Capital Budget.
Title
Authorizing the Mayor and City Clerk to enter into a revised agreement with the Wisconsin Department of Transportation for the construction of Central Park. (6th AD)
Body
WHEREAS, The City of Madison and Wisconsin Department of Transportation entered into a revised agreement authorized by Resolution File ID 28444, RES-12-00945 for the construction of Central Park.
WHEREAS, The City is in the process of constructing the Central Park project, an urban park located in the East Isthmus Corridor on the near east side. The project has been approved for approximately $3.1 million of federal funding; the federal funds require a 20% local match. Design will be funded with 100% local funds. Design and construction of Phase 1 improvements are nearing completion.
WHEREAS, The City will need to enter into a revised project agreement with The Wisconsin Department of Transportation that updates the estimated costs for the total project based on actual dollar amounts that were spent to date. The revised agreement also provides for inclusion of Federal funds to be used for the purchase of real estate, which was not included in the original project agreement. The Federal funds that remain available will be utilized for land acquisition to expand Central Park in accordance with the approved master plan (all Federally eligible transportation-related park improvements have been completed). The last Council approval of the agreement occurred on May 14, 2013 (Resolution File ID 28444, RES-12-00945). Approval for the acquisition of the property will be brought to t...
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