Fiscal Note
Private Contract, No City Funds Required.
Title
Approving plans and specifications for public improvements necessary for the project known as 700 Block University Avenue (University Square) PUD and authorizing construction to be undertaken by the Developer, Private Contract No. 2072. (8th AD)
Body
WHEREAS, the developer, Madison Real Estate Partners, has received the City of Madison's approval for a Planned Unit Development (PUD) to construct a mixed use redevelopment, in the 700 Block of University Avenue, and,
WHEREAS, Section 16.23(9) of the Madison General Ordinances and the conditions of approval require the developer to install the public improvements necessary to serve the PUD.
NOW, THEREFORE, BE IT RESOLVED:
1. That the Mayor and City Clerk are hereby authorized and directed to execute a Development Agreement For 700 Block University Avenue (University Square) PUD, with Madison Real Estate partners.
2. That the plans and specifications for the public improvements necessary to serve the PUD are hereby approved.
3. That the developer is authorized to construct the public improvements in accordance with the terms of the Development Agreement at the sole cost of the developer, except as follows: NONE
4. That the Mayor and City Clerk are hereby authorized to accept dedication of lands and/or easements from the Developer/Owner for public improvements located outside of existing public fee title or easement right-of-ways.