Title
Authorizing the Mayor and City Clerk to execute all necessary documentation to enter into an agreement with the State of Wisconsin to receive the City of Madison's share of the Local Road Improvement Funds.
Body
The State of Wisconsin Department of Transportation has a Local Road Improvement Program that provides funds to local municipalities for improvements on existing City Streets. The City of Madison's share of this program is $435,669.64 for the years 2012 and 2013($217,834.82 for each year). The 2012-13 City of Madison's Capital Improvement Budget includes a proposal to apply these funds to the 2012-13 Street Resurfacing Program. To obtain the funds, the City is required to submit an application requesting the funds and enter into an agreement with the State of Wisconsin prior to awarding a contract for the work.
NOW, THEREFORE, BE IT RESOLVED, that the Mayor and City Clerk are hereby authorized to execute all documentation for the City of Madison's share of the Local Road Improvement Funds from the State of Wisconsin in the amount of $435,669.64 and agree to spend the funds for the 20112-13 Street Resurfacing Program.
Fiscal Note
This program is anticipated to generate $435,669.64 for the City's Street Resurfacing Program. This revenue is anticipated in the 2012-13 Capital Budget.