Fiscal Note
STREET ACCOUNT NO. 10789-45-170 - $80,000
TRAFFIC SIGNAL ACCOUNT NO. 10789-45-170 - $410,000
Total Project Cost - $490,000
Developer's Share - $490,000
City Share - $0
Title
Approving plans and specifications for Intersection Improvements at American Parkway & Eastpark Boulevard and American Parkway & Buttonwood Drive - 2015.
Body
PREAMBLE
WHEREAS, On June 21, 1990, the City of Madison (The City) and American Family Mutual Insurance Company (The Developer) entered into a Development Agreement for The American Center, and
WHEREAS, On November 24, 2014, The City and The Developer executed Amendment No. 1 to the Development Agreement for The American Center, in which The City and The Developer agreed to construct intersection improvements at the American Parkway and Eastpark Boulevard and the American Parkway and Buttonwood Drive intersections; and,
WHEREAS, The Developer has agreed to fund 100% of the construction costs for the intersection improvements; and
WHEREAS, The project will provide increased traffic capacity on the American Parkway Corridor and provide safe crossing movements for pedestrians at the subject intersections.
NOW, THEREFORE, BE IT RESOLVED, that the plans and specifications for Intersection Improvements at American Parkway & Eastpark Boulevard and American Parkway & Buttonwood Drive - 2015, are hereby approved.
BE IT FURTHER RESOLVED, that the Mayor and City Clerk are hereby authorized to accept dedications of lands and/or easements for public improvements located outside existing public fee title or easement right-of-ways, and
BE IT FURTHER RESOLVED, that the Board of Public Works be and is hereby authorized to advertise and receive bids for the required public works contract.