Fiscal Note
The fiscal impact of this resolution remains essentially unchanged since the terms of the cooperative agreement were adopted in early 2005. This fiscal note was originally presented with Res-05-0087:
The proposed intergovernmental agreement between the City of Madison and the Town of Blooming Grove contains provisions that would foster a more predictable and orderly annexation of Town property than has occurred in the past. The agreement also establishes a "protected period" of up to 23 years during which only limited annexation of Town property could occur. Approximately 78% of the Town's present assessed value, 89% of its current population, but only 10% of the total land area would be protected throughout this period. At the end of this term, Town government would cease operations.
With only minor exceptions, the agreement does not define specific annexations and property transfers which would occur within the next several years. Therefore, the agreement does not result in immediate quantifiable budgetary impact. Generally, the agreement allows for annexations of undeveloped property to continue with the concurrence of affected property owners in the near term. The agreement preserves the current statutory provision that requires the City to provide revenue sharing to the Town, equal to the town taxes paid in the year of annexation, for a period of 5 years. The amount of such revenue sharing payments would be determined at the time each individual annexation is approved in the future.
The City will eventually incur additional operating costs as annexation progresses, although the proposed agreement does not materially affect the level of those expenses or provide for substantial immediate transfer of maintenance responsibility.
Annexation Potential During Protected Period
Generally, existing annexation laws allow cities to annex contiguous unincorporated areas upon the approval of a majority of the property owners within the ...
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