Fiscal Note
Funding of $50,000 for the Design Development study is provided for in companion Resolution #06997. Additional City funding of $2,000,000 is to be comprised of $800,000 for construction, and a loan of $1,200,000 to the Madison Mallards, LLC. The Madison Mallards are also to directly support $2,000,000 of project costs. Total project costs of $4,000,000 will therefore be anticipated in the 2008 Executive Capital Budget.
Title
Authorizing the Mayor and City Clerk to execute an Agreement with the Madison Mallards, LLC for the Design Development at Warner Park Stadium.
Body
WHEREAS, the Mallards and the Northwoods League operate a summer collegiate baseball team in Madison at Warner Park Stadium, pursuant to a lease with the City, with a term ending December 31, 2010; and
WHEREAS, the City and the Mallards are studying renovations to the Warner Park Stadium in order to increase its seating capacity, improve the facility and to improve access for handicapped individuals; and
WHEREAS, it is necessary to engage the professional services of an engineering/architectural firm in order to determine the feasibility of any possible construction by conducting a Design Development study, which will include a preliminary plan, a soils analysis and a cost estimate, and
WHEREAS, the City and the Mallards intend to equally share the cost of the Design Development study, the cost of which is estimated to be $50,000, and
WHEREAS, the City will obtain a contractor to perform the Design Development study, and the City Engineer will supervise the study, in consultation with the Mallards, and
WHEREAS, the results of such Design Development will not obligate the City or the Mallards to perform any such renovations at the Warner Park Stadium, and
WHEREAS, the City and Mallards have tentatively agreed upon the parts of a future contract for the Construction Phase, which agreements are not binding but which the parties wish to memorialize,
NOW, THEREFORE BE IT RESOLVED, that the Mayor and the City Clerk are authorized to execute an Agreement with Madison Mallards, LLC, whereby the Madison Mallards, LLC shall contribute $25,000 towards the cost of said Design Development study, providing that if the cost of the study exceeds $50,000, the Madison Mallards, LLC agree to pay 1/2 of the additional cost of the study and if the cost is less than $50,000, the City will refund 1/2 of the difference between the actual cost and $50,000 to the Madison Mallards, LLC; and
BE IT FURTHER RESOLVED, that the design development study cost shall not exceed $60,000 without further Council approval; and
BE IT FINALLY RESOLVED, that the Agreement will include a tentative agreement on the costs of future construction consisting of the City's commitment to pay up to $800,000 and loan up to $1.2 million to the Mallards for such construction, and the Mallards to contribute up to $2.0 million for such construction and to possibly have naming rights for the Stadium.