Fiscal Note
The proposed resolution authorizes EDD staff to submit an application for a $250,000 grant from the Wisconsin Economic Development Corporation (WEDC) Idle Sites Redevelopment Grant Program. The grant would be used to fund a portion of OM Station LLC's costs for infrastructure improvements, building rehabilitation, building demolition, and environmental remediation costs at 910 Oscar Ave and 2003 Aberg Ave. If awarded, the proposed resolution authorizes acceptance of the grant, and the Economic Development Division’s 2026 Adopted Operating Budget will be amended in the amount of the grant award within the Other Grants Fund (Fund 1220).
Title
Authorizing the acceptance of a grant for $250,000 from the Wisconsin Economic Development Corporation (WEDC) Idle Sites Redevelopment Grant program, authorizing contracts with WEDC and OM Station LLC for the use of the funds and amending the 2026 Adopted Operating Budget for Economic Development Division - Office of Business Resources’ purchased services. (District 12)
Body
WHEREAS, City of Madison staff is working with OM Station LLC, the owner (the “Owner”) of the former Oscar Mayer, located at 910 Oscar Avenue and 2003 Aberg Avenue (the “Property”) on plans for the redevelopment and reuse of the Property; and,
WHEREAS, barriers to the redevelopment and reuse of the former Oscar Mayer property include the need to fund substantial infrastructure improvements, building rehabilitation, building demolition, and environmental remediation costs on the site; and,
WHEREAS, the Wisconsin Economic Development Corporation’s (“WEDC”) Idle Sites Redevelopment Grant program provides funding to Wisconsin municipalities to fund costs needed to facilitate reinvestment in former commercial or industrial property that is currently idle or underutilized; and
WHEREAS, WEDC may award an Idle Sites Redevelopment Grant in the amount of $250,000 to fund a portion of the Owner’s costs of infrastructure improvements, building reha...
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