Fiscal Note
This resolution approves an increase in the fee acquisition costs for the project from $250,000 to $320,000 and reallocation of costs between accounts. The land interest acquisition and relocation cost estimate, including City Real Estate staff time and related administration costs, not to exceed $320,000 is available in Account. No(s):
10284-402-160 - Pleasant View Road, ($130,000 Easement Acquisitions)
10284-402-110 - Pleasant View Road, ($190,000 Fee Acquisitions)
Funding available in Engineering’s Pleasant View Road capital project (Munis project #10284). No additional City appropriation is required.
Title
Revising the Fiscal Note for RES-21-00196, Legistar File No. 64401 (9th AD).
Body
WHEREAS, the City of Madison Common Council adopted RES-21-00196, Legistar File No. 64401, on March 16, 2021, approving the Transportation Project Plat Numbers 5992-11-00 - 4.05, 5992-11-00 - 4.06 and 5992-11-00 - 4.12, Pleasant View Road - Mineral Point Road to USH 14 for the acquisitions per the Plats of Land Interests required; and,
WHEREAS, the City of Madison Common Council subsequently adopted RES-21-00503, Legistar File No. 66213, on July 20, 2021, approving the Amended Transportation Project Plat Numbers 5992-11-00 - 4.05 Amendment No. 1 and 5992-11-00 - 4.06 Amendment No. 1; and
WHEREAS, the City’s appraisals of the subject properties exceeded the City’s initial estimates.
NOW THEREFORE BE IT RESOLVED, that the fiscal note for the approval of Transportation Project Plat Numbers 5992-11-00 - 4.05 and Amendment No. 1, 5992-11-00 - 4.06 and Amendment No. 1 and also 5992-11-00 - 4.12, Pleasant View Road - Mineral Point Road to USH 14, for the acquisitions per the Plats of Land Interests required is hereby revised to account for the higher anticipated acquisition costs of the land interests set forth in the Project Plats.