Fiscal Note
Funding of $15,000 is available in the Planning and Development 2006 Capital Budget for Preliminary Planning, Account #810425.
Title
SUBSTITUTE - Authorizing the provision of $15,000 to Independent Living to arrange for a market study of senior housing in the South Madison Beltline area, and authorizing the Mayor and City Clerk to sign an agreement to secure the study.
Body
BACKGROUND:
In 2005, the Council adopted a South Madison Neighborhood Plan that establishes some goals for Census Tracts 13 and 14.01. Within the last five years, the City has conducted several studies for the revitalization of Park Street, and adopted several specific studies' recommendation intended to foster housing, economic development, including the redevelopment of the Villager, a BUILD study, and attachments related to the Park/Badger area. The Badger-Ann-Park Redevelopment Committee recommended a series of initiatives to be funded with the use of capital budget funds, one of which included the conversion of some rental properties along Badger Road into owner-occupied housing. This project stalled when the estimated costs of the project exceeded the available funding, due to temporary increases in occupancy. However, housing trends within the area continue to suggest the need for housing improvement initiatives. In May 2006, the Council authorized the issuance of an RFP to conduct a housing study in this area. The City received only one proposal. Further discussions with various groups have suggested the option to narrow the focus of the study to seniors and senior housing.
STUDY:
The proposed study arranged through Independent Living provides a method to help staff, various City committees, private developers and owners, and the Council establish strategies that would lead to revitalization of the housing and expand housing choices.
ACTION:
WHEREAS, the Common Council has adopted South Madison Neighborhood Plan and recommendation from the Badger-Ann-Park R...
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