Fiscal Note
The Agreement provides for University contribution to various improvements directly or indirectly associated with 2501 Observatory Drive, Lot 76 Parking Ramp
Title
Authorizing the Mayor and City Clerk to Enter into an Agreement with the Board of Regents of the University of Wisconsin System for the Development of 2501 Observatory Drive, Lot 76 Parking Ramp Improvements PUD, Private Contract No. 2037.
Body
WHEREAS, on November 18, 2003 the University of Wisconsin has received conditional approval by the Common Council for a Planned United Development (PUD) to construct a parking garage at 2501 Observatory Drive (Lot 76 Parking Ramp), and,
WHEREAS, Section 16.23(9) of the Madison General Ordinances and the conditions of approval require the developer to install or finance public improvements necessary to serve the PUD.
NOW, THEREFORE, BE IT RESOLVED:
1. That the Mayor and City Clerk are hereby authorized and directed to execute a Development Agreement with the Board of Regents of the University of Wisconsin System for the development of 2501 Observatory Drive, Lot 76 Parking Ramp Improvements PUD, Private Contract No. 2037;
2. That the plans and specifications for the public improvements provided by the agreement will be submitted as individual projects to the Council for review; and,
3. That the Mayor and City Clerk are hereby authorized to accept the dedication of lands and/or easements from the University of Wisconsin for public improvements located outside of existing public fee title or easement right-of-ways necessary to implement the conditions and construction provided in the agreement.