Fiscal Note
Funds for this project were approved under a separate resolution (Legistar File No. 28156)
Title
Approving Schedule Of Assessments For the CTH M & S (Mineral Point Road and Junction Road) Interchange Improvements Assessment District.
Body
PREAMBLE
The City is proposing to improve Mineral Point Road (from Pleasant View Rd to the Beltline) and Junction Road/South Junction Road (from Isaac Dr to Valley View Rd). The intersections of Mineral Point Road and South Junction Road will be reconstructed with a modified Jug Handle grade separated intersection. Bicycle and pedestrian accommodations will be provided, including an overpass over Mineral Point Road and an underpass of the Jug Handle. The design accommodates present and future growth demands of the area as defined in the City’s neighborhood plans. The City of Madison will be the lead agency for the project, which also involves Dane County. The City applied for Federal Funding with the Surface Transportation Program - Urban and the project received approval for approximately 50% federal funding. The City also has applied for a federal earmark and in fiscal year of 2009 was awarded an earmark of $311,220.
The project will be constructed under a contract let by the Wisconsin Department of Transportation (WisDOT) and a project Agreement with WisDOT will be required for funding, oversight and construction. The proposed project is planned for construction in the year 2013-14. Phase 1 of the project has occurred in 2012. The approval of the project plans and specifications are under separate resolution, Legistar No. 28156.
In accordance with Madison General Ordinance 4.081, the assessment for parcel(s) parcels zoned or used for agriculture and in the City of Madison and the UW Research Park lots shall be deferred for 10 years with interest. Upon completion of the deferment period, payment shall be made with interest in 8 equal yearly installments. In the event of certain occurrences as outlin...
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