Fiscal Note
This resolution amends both the 2015 Capital Budget and the Capital Improvement Program. Project #1 "Library Maintenance Support Center" of the 2015 Adopted Library Capital Improvement Program contains $500,000 in General Obligation funding for the Year 2015, and an additional $2,500,000 for the Year 2016. This amendment would accelerate $500,000 of the 2016 borrowing to 2015, resulting in a new distribution of $1,000,000 of G.O. debt funding in 2015 and $2,000,000 in 2016. Acceleration of the $500,000 of borrowing by one year would also result in the acceleration of approximately $60,000 of annual debt service payments by one year.
Title
SUBSTITUTE Authorizing the execution of a Purchase and Sale Agreement between the City of Madison and Graybar Electric Company, Inc. for the purchase of property located at 1301 West Badger Road for the location of a warehouse and distribution facility for the Public Library and authorizing an amendment to the Capital Budget to fund the purchase of the property, complete the design and construction process and begin renovation of the property.
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The Madison Public Library, during the design process for the new Central Library, determined that using Central Library as the service and support facility for the 9 library Madison Public Library system greatly diminished the program capability of the new library. It was resolved, therefore, to remove these functions to a more suitable site to meet the storage and maintenance needs of Madison Public Library, while trying to maintain a centralized location for expedient deployment of services across the city.
A temporary site was leased at 2422 Pennsylvania Avenue which demonstrated the efficiency of a warehouse dedicated facility. In 2011, capital funds of $3,250,000 were obtained to construct a permanent service and support facility. Through the efforts of the City’s Long Range Facility Planning Committee, it was determined that Monona Terrace and Madison Pu...
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