Fiscal Note
The proposed resolution authorizes a loan of up to $100,000 to Tellurian, Inc. to aid in building improvements at 702 W. Main St. The loan is part of the Community Facilities Loan (CFL) Program (2026 project #18013, capital program #13672), administered by the Community Development Division (CDD). CFL program guidelines establish up to the lesser of $100,000 or 50% of total eligible project costs for agencies committed to leasing the space for at least 10 years. Funding for the project described herein is available in CDD's 2026 Adopted Capital Budget ($1.0 million in General Fund-supported GO Borrowing). No additional City appropriation is required.
Title
Authorizing a loan of up to $100,000 to Tellurian, Inc. from the Community Facilities Loan Program to help finance leasehold improvements and authorizing the Mayor and City Clerk to sign an agreement for that purpose (District 13).
Body
Action Items
WHEREAS, the City of Madison’s Community Facilities Loan (CFL) Program provides low-cost financing to support non-residential development projects undertaken by non-profit organizations in the City of Madison that involve the acquisition of property or substantial expansion, redevelopment, improvement or rehabilitation of property the organizations currently own or lease; and,
WHEREAS, the City’s objective through the CFL Program is to create or improve safe, accessible, energy-efficient and well-maintained community and neighborhood facilities; and,
WHEREAS, Tellurian, Inc. offers programming and case management services focused on urgent behavioral health, substance use disorders, mental health, and housing support; and,
WHEREAS, Tellurian, Inc. seeks assistance through the CFL Program to help pay for building improvements that include converting space into a community based medication management clinic, office space for case managers (that previously worked at Williamson Street property), communal and individual space for client programming...
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