Fiscal Note
This resolution approves an increase in the fee acquisition costs for the project from $325,000 to $600,000. The land interest acquisition and relocation cost estimate, including City Real Estate staff time and related administration costs, not to exceed $625,000 is available in Account. No(s):
10233-402-160 CTH M - Prairie Hill Road to Cross Country Road, ($25,000 Easement Acquisition)
10233-402-110 CTH M - Prairie Hill Road to Cross Country Road, ($600,000 Fee Acquisition)
Title
Revising the Fiscal Note for RES-16-00389, Legistar File No. 42688.
Body
PREAMBLE
WHEREAS, the City of Madison Common Council adopted RES-16-00389, Legistar File No. 42688, on May, 17, 2016, approving the Transportation Project Plat No. 5992-09-81 - 4.08 CTH M - Prairie Hill Road to Cross Country Road for the acquisition of Plat of Land Interests required; and
WHEREAS, the City's appraisals of the subject properties exceeded the City's initial estimates.
NOW THEREFORE BE IT RESOLVED, that the fiscal note for the Transportation Project Plat No. 5992-09-81 - 4.08 CTH M - Prairie Hill Road to Cross Country Road for the acquisition of Plat of Land Interests required is hereby revised to account for the higher anticipated acquisition costs of the land interests set forth in the Project Plat.