Fiscal Note
Sufficient funding for this purchase is available in the adopted 2005 and 2006 Capital Budgets. Funding for operation, maintenance and repair is available in the adopted 2006 Operating Budget.
Title
Authorizing the mayor and City Clerk to execute an Addendum to Agreement between the City of Madison and Dane County for the Sale of Space in the City-County Building and to execute an Amended Agreement for the operation and maintenance of the building.
Body
WHEREAS, the City of Madison (“City”) and Dane County (“County”) have, by an agreement dated February 8, 1955, (hereinafter, the “Master Agreement”) and amendments thereto, entered into a contractual relationship pursuant to which the parties have provided for ownership and operation of the City of Madison City Hall and the Dane County Courthouse (“the City-County Building”); and
WHEREAS, the City and County wish to enter into an Addendum to Agreement (“Addendum”) and to amend the Master Agreement to provide for the sale by the County to the City of certain parts of the City-County Building as set forth herein:
1. The Master Agreement shall be further updated and amended by the Addendum, except for those changes expressly set forth in the Addendum. Both the Addendum and the updated and amended Master Agreement are attached hereto.
2. Effective February 1, 2006, the County shall sell property in the City-County Building described in Schedule A, which is attached to the Addendum, to the CITY for $1,100,000.00 (ONE MILLION ONE HUNDRED THOUSAND AND 00/100 DOLLARS), payable in two installments as follows: $500,000.00 by December 31, 2005 and $600,000.00 by February 1, 2006.
3. The price indicated herein is for this transaction only and does not reflect or establish the cost per square foot for space in the City-County Building for, or in, any future transactions.
4. The City shall pay any and all costs associated with remodeling the space referred to in Schedule A. Plans to remodel the spa...
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