Fiscal Note
Est. cost not to exceed $25,000
Funds available in Acct. No. 10619-402-170: 54410 (96339)
Title
Approving Addendum No. 1 to The Meadowlands - Phase 6 and authorizing construction to be undertaken by the Developer, Private Contract No. 2355. (3rd AD)
Body
WHEREAS, the developer, Veridian Homes AB, LLC, had entered into a Contract For the Construction of Public Improvements That Will be Accepted by the City of Madison for The Meadowlands - Phase 6, hereinafter the "Contract" with the City of Madison, and;
WHEREAS, the Developer will be constructing public improvements adjacent to a publicly owned stormwater basin and shall be reimbursed in accordance with the Madison General Ordinances for the work performed to benefit the City.
NOW, THEREFORE, BE IT RESOLVED:
1. That the Mayor and City Clerk are hereby authorized and directed to execute Addendum No. 1 for The Meadowlands - Phase 6, Contract No. 2355, with Veridian Homes AB, LLC.
2. That the developer is authorized to construct the public improvements in accordance with the terms of the Contract For the Construction of Public Improvements That Will be Accepted by the City of Madison at the sole cost of the developer, except as follows: Reimbursement not to exceed the statutory limit for the cost of street improvements that benefit the City and abut lands owned by the City, in accordance with Section 16.23(9)(d)(6)(d).