Fiscal Note
This resolution would amend the Parks Division 2006 Capital Budget to authorize the expenditure of an additional $203,029 in TIF funds for the Brittingham Boathouse project (part of Specific Parks Improvements, 810405). Current authorization for this project is $606,331 (see Resolution #02356), which is comprised of the following funding elements: $250,000 from TID #28, $163,000 from the Hollister Trust Fund (TN70), $53,236 from Parks Development Fees (SI04); $10,000 from the UW Chancellor's Office, $10,000 from the UW Athletic Department, and $120,095 from private donations. The proposed amendment would bring total project costs to $809,360, of which $453,029 would be funded from TID #28.
Title
To amend the City of Madison Parks Division 2006 Capital Budget to authorize the expenditure of $203,029 from TIF #28 funds for additional TIF eligible costs associated with Contract No. 5872, Brittingham Boathouse Renovation and Addition Project.
Body
The City of Madison Parks Division and Camp Randall Rowing Club, Inc. (the "Club") have a mutual interest in the renovation of the building known as the Brittingham Boathouse ("Boathouse") located at 701 Brittingham Place, Madison, WI 53703. In 2001, the Camp Randall Rowing Club began negotiations with the Parks Division to restore, renovate and relocate the existing Brittingham Boathouse from its current location to space elsewhere in Brittingham Park because of unacceptable soil conditions. The Club conducted fundraising for this project, which funds were partially matched by a Parks trust account.
On February 18, 2003 the Common Council adopted Resolution ID#33269 that among other things, found that it was in the public interest to improve the Building and thereby enhance citizens' use and enjoyment of Brittingham Park. After the relocation and renovation of the Boathouse, the Camp Randall Rowing Club will enter into a long-term lease with the City for non-exclusive use of the Boathouse. The ...
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