Fiscal Note
Adoption of the Resolution will not commit the Council to additional expenditures at this time, but represents a step toward ultimately significant potential impacts on future City capital and operating expenses. The Madison Streetcar Preliminary Feasibility Study will develop estimates for capital and operating costs of a Start-Up Streetcar System and identify necessary steps for implementing the system, should it be recommended to move forward. Costs for the system will be borne by a mix of Federal, State and Local dollars. Future extensions of the initial Start-Up Streetcar System may have additional impacts to City finances.
This Resolution authorizes initiation of a Preliminary Feasibility Study. City planning staff estimate that the study process will require one year to complete - at an estimated cost of $300,000. Funding of $300,000 in General Obligation Debt funds is available and authorized in the 2005 Planning and Development Capital Budget (via Resolution #01418 enacted 7/5/05) in Account #CE22-58015-810521.
Planning staff resources will be reallocated to provide support for the Streetcar Study Committee without the need for additional expenditure. Any future expenditures associated with the project will require further Council approval.
Title
Authorizing the Mayor and the City Clerk to enter into an agreement with the consultant team of HDR, et al., for conducting the Madison Streetcar Preliminary Feasibility Study.
Body
PREAMBLE
Redevelopment of underutilized urban land, or infill development, is an important land use and economic development goal for the City of Madison. To that end, electric streetcars on rails represent a viable urban neighborhood-friendly form of transportation that can meet numerous community goals - including the important goal of promoting residential and commercial infill development.
Electric streetcars can act as a circulator among downtown destinations for both visitors and residents....
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