City of Madison - File #: 80082

• File #: 80082
• Version: 1
• Name: 12846 - South Transfer Point Redevelopment
• Type: Resolution
• Status: Passed
• File created: 9/26/2023
• In control: Economic Development Division
• On agenda: 10/17/2023
• Final action: 10/17/2023
• Enactment date: 10/19/2023
• Enactment #: RES-23-00652
• Title: Authorizing the Community Development Authority to act as Master Developer for the redevelopment of City-owned properties at 802, 810 and 818 West Badger Road and 825 Hughes Place, and to issue a development partnership Request for Qualifications for same. (District 14)
• Sponsors: Satya V. Rhodes-Conway, Isadore Knox Jr.
• Related files: 85964, 80843

Date	Ver.	Action By	Action	Result
10/17/2023	1	COMMON COUNCIL	Adopt	Pass
10/12/2023	1	COMMUNITY DEVELOPMENT AUTHORITY	Return to Lead with the Recommendation for Approval	Pass
10/9/2023	1	FINANCE COMMITTEE	RECOMMEND TO COUNCIL TO ADOPT - REPORT OF OFFICER	Pass
10/3/2023	1	FINANCE COMMITTEE	Refer
10/3/2023	1	COMMON COUNCIL	Refer	Pass
9/26/2023	1	Economic Development Division	Referred for Introduction

Fiscal Note
The proposed resolution designates the Community Development Authority (CDA) as Master Developer of the Park and Badger Area. Subject to adoption of the 2024 Capital Budget, the CDA as Master Developer will seek partnerships for public-private development of the Area.

Funding for the redevelopment of the Area is included in the TID 51 Project Plan and in the 2024 Executive Capital Budget.
· TID 51 Project Plan includes $4.0 million in funding for CDA activities in the Park and Badger Area. It also includes $5.0 million in land banking funds and $6.0 million for CDA activities for the Village on Park redevelopment. (Total: $15.0 million)
· 2024 Executive Capital Budget
o CDA Redevelopment: South Madison Redevelopment project includes $2.0 million of tax increment financing (TIF) in 2024 for predevelopment work; $4.0 million of GO Borrowing in 2025 for additional predevelopment work and the estimated Phase 1 gap; and, $3.0 million of GO Borrowing in 2026 for the estimated Phase 2 gap. (Total: $9.0 million)
o Fire: Fire Station 6 - W. Badger Road includes $3.47 million of GO Borrowing in 2025 in addition to the $4.4 million included in the 2021 and 2022 capital budgets.
o Public Health: South Madison Public Health Clinic includes $15.0 million in funding in 2025. ($6.5 million in TID-supported GO Borrowing, $8.5 million from Dane County)

The cost of housing component of each redevelopment phase is highly dependent on the number of units, level of affordability, and subsidy program selected. For the purposes of the 2024 budget, staff estimates assume approximately 200 units of housing for each phase financed by 4% Section 42 tax credits. This number of units is supported by the adopted South Madison Plan and preliminary financial analysis based on the site being located in a Qualified Census Tract.
Title
Authorizing the Community Development Authority to act as Master Developer for the redevelopment of City-owned properties at 802, 810 and 818 Wes...