Fiscal Note
Adoption of this agreement would result in annual revenue sharing payments from Fitchburg to Madison estimated at $4,500 to $5,000 per year for a period of seven years, beginning in 2009. When received, these revenue sharing payments would be deposited in the General Fund and would serve to reduce future year tax levies.
Title
Authorizing execution of a Municipal Revenue Sharing Agreement Between the City of Fitchburg and the City of Madison.
Body
WHEREAS, pursuant to Wis. Stat. ยง 66.0307, Fitchburg, Madison and the Town of Madison ("the Town") entered into a Cooperative Plan related to boundary lines between themselves ("Boundary Agreement") which was approved by the State Department of Administration; and
WHEREAS, certain existing irregularities in the boundaries were not able to be resolved by the Boundary Agreement due to economic, legal and political reasons; and
WHEREAS, the parties to the Boundary Agreement agreed to cooperate to determine the most efficient means for extension of services to new customers; and
WHEREAS, the parties to the Boundary Agreement agreed to pursue further cooperative agreements that would qualify each of them for additional shared revenue; and
WHEREAS, the Boundary Agreement created an area of lands in Fitchburg, including the subject property as described in Exhibit "A" ("the Tri-North Property") attached hereto and made a part hereof which, although nearly surrounded by Madison at the time of Boundary Agreement negotiations, were not surrendered by Fitchburg for political and economic reasons; and
WHEREAS, extending Fitchburg water utility services to the Tri-North Property would be difficult and costly due to its isolation; and
WHEREAS, to avoid such difficulty and cost, Fitchburg wishes to have Madison provide water utility service to the Tri-North Property; and
WHEREAS, as an alternative to further common boundary alterations, Madison wishes to be compensated for providing the necessary water u...
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