City of Madison - File #: 02741

• File #: 02741
• Version: 2
• Name: DJK Real Estate, LLC re Grandview Commons
• Type: Resolution
• Status: Passed
• File created: 1/11/2006
• In control: BOARD OF ESTIMATES (ended 4/2017)
• On agenda: 2/21/2006
• Final action: 2/21/2006
• Enactment date: 2/23/2006
• Enactment #: RES-06-00125
• Title: SUBSTITUTE - Authorizing the Mayor and City Clerk to execute a Memorandum of Understanding with DJK Real Estate, LLC regarding development of and an endowment for a new east side library branch to be located in Grandview Commons.
• Sponsors: David J. Cieslewicz, Cindy Thomas, Tim Gruber, Larry Palm, Lauren Cnare, Judy Compton, Noel T. Radomski, Judy K. Olson, Paul E. Skidmore, Austin W. King, Jed Sanborn

Date	Ver.	Action By	Action	Result
2/21/2006	2	COMMON COUNCIL	Adopt	Pass
2/13/2006	2	BOARD OF ESTIMATES (ended 4/2017)	RECOMMEND TO COUNCIL TO ADOPT - REPORT OF OFFICER	Pass
2/3/2006	2	Finance Dept/Approval Group	Approved Fiscal Note By The Comptroller's Office (SUBSTITUTES)
2/2/2006	2	MADISON PUBLIC LIBRARY BOARD	Return to Lead with the Recommendation for Approval	Pass
1/25/2006	1	Finance Dept/Approval Group	Refer
1/25/2006	2	Attorney's Office	Fiscal Note Required / Approval
1/17/2006	1	COMMON COUNCIL	Refer
1/17/2006	1	BOARD OF ESTIMATES (ended 4/2017)	Refer
1/17/2006	1	BOARD OF ESTIMATES (ended 4/2017)	Fiscal Note Required / Approval
1/17/2006		COMMON COUNCIL	Refer
1/11/2006	1	Attorney's Office	Fiscal Note Required / Approval
1/11/2006	1	Finance Dept/Approval Group	Fiscal Note Pending
1/11/2006	1	Attorney's Office	Referred for Introduction

Fiscal Note
The 2006 Library Capital Budget includes a New Eastside Branch Library (Project No. 6). It anticipates the donation of land and planning funds in 2006.
Title
SUBSTITUTE - Authorizing the Mayor and City Clerk to execute a Memorandum of Understanding with DJK Real Estate, LLC regarding development of and an endowment for a new east side library branch to be located in Grandview Commons.
Body
PREAMBLE
DJK Real Estate, LLC and its affiliates, including members of the Simon and Rosenberg families (collectively "Donors") own and are developing Grandview Commons, a subdivision located on Cottage Grove Road. The Madison Public Library Board has identified a site within Grandview Commons as an appropriate location for a new library branch (the "New Branch"), and has worked with Donors towards the development of and provision for an endowment for the New Branch. The parties wish to memorialize their preliminary agreement in a nonbinding Memorandum of Understanding which shall set forth the parties' intentions as of this date. A more definitive binding agreement regarding the development of the New Branch and the Donors' proposed endowment therefor shall be presented to the Common Council for its approval later this year.
NOW, THEREFORE BE IT RESOLVED, that the Mayor and City Clerk are hereby authorized to execute a Memorandum of Understanding with DJK Real Estate, LLC regarding the development of a new library branch to be located at Grandview Commons, which Memorandum shall contain the following terms and conditions:
1. Donated Property. Donors shall donate at no cost to the City a parcel containing approximately 42,000 square feet within the Grandview Commons subdivision for use as a new library branch. The legal description and boundaries of the donated property and the timing of the donation shall be determined by the parties. If construction of the New Branch is not commenced within seven (7) years from the date the donated proper...