City of Madison - File #: 01712

• File #: 01712
• Version: 1
• Name: Authorizing a grant of an access easement over City-owned land to Ironworks Development LLC to facilitate its development project at 149 Waubesa Street.
• Type: Resolution
• Status: Passed
• File created: 7/27/2005
• In control: BOARD OF PUBLIC WORKS
• On agenda: 9/20/2005
• Final action: 9/20/2005
• Enactment date: 9/27/2005
• Enactment #: RES-05-00760
• Title: Authorizing a grant of an access easement over City-owned land to Ironworks Development LLC to facilitate its development project at 149 Waubesa Street. 6th Ald Dist
• Sponsors: Judy K. Olson

Date	Ver.	Action By	Action	Result
9/20/2005	1	COMMON COUNCIL	Adopt	Pass
9/7/2005	1	BOARD OF PUBLIC WORKS	RECOMMEND TO COUNCIL TO ADOPT - REPORT OF OFFICER	Pass
8/22/2005	1	PLAN COMMISSION	Return to Lead with the Recommendation for Approval	Pass
8/2/2005	1	COMMON COUNCIL	Refer
8/2/2005	1	BOARD OF PUBLIC WORKS	Refer
7/27/2005	1	Community and Economic Development Unit	Fiscal Note Required / Approval
7/27/2005	1	Finance Dept/Approval Group	Approved Fiscal Note By The Comptroller's Office
7/27/2005	1	Community and Economic Development Unit	Referred for Introduction

Fiscal Note
Project fee of $500 to be deposited to the General Fund Account #GN01-78231, Easements.
Title
Authorizing a grant of an access easement over City-owned land to Ironworks Development LLC to facilitate its development project at 149 Waubesa Street. 6th Ald Dist
Body
PREAMBLE

Ironworks Development, LLC ("Ironworks") is the owner of the property located at 149 Waubesa Street having purchased this former manufacturing property for redevelopment or resale purposes. Access to the rear of this property can only be accomplished by crossing over a portion of the adjacent City-owned former railroad corridor. The City has previously granted Ironworks a lease for such access purposes; however, in order to secure financing, lenders are requiring Ironworks to obtain a more secure right of legal access from the City.

In addition, Ironworks has recently entered into a sale agreement with the Atwood Community Center ("Atwood"). One of Atwood's contingencies in the sale agreement is this same matter - that a more secure right of legal access be obtained from the City.

The City's Engineering Division and Real Estate Section staff have reviewed the situation and recommend the following provisions. Ironworks has reviewed these provisions and finds them acceptable.

· The City shall grant Ironworks a non-exclusive, transferable (subject to the City's consent) easement that shall be of the smallest size possible and located within the existing leased premises adjacent to Ironwork's property.

· The easement shall have an initial term of 30 years with one 10-year renewal option.

· The City shall retain the right to use the easement area for other public purposes so long as such usage does not limit the access rights granted to Ironworks except as may be necessary for temporary construction requirements.

· The City shall have the right to terminate the easement at any time that the City should construct a public street adjacent to and along the south...