Fiscal Note
The South Bedford Street reconstruction project is currently being funded by TID 28. This Resolution authorizes additional TIF funding for the undergrounding of electrical as part of this street project.
The 2007 Major Streets Capital Budget should be amended as follows:
CS53-58250-810355-00-53B0878-53TIF028 $170,000
CS53-79448-810355-00-53B0878-53TIF028 ($170,000)
Title
Authorizing the Engineering-Major Streets 2007 Capital Budget to be amended to include $170,000 for the undergrounding of overhead utilities in conjunction with the S. Bedford Street Reconstruction project. (4th AD)
Body
PREAMBLE
The City of Madison is currently reconstructing S. Bedford Street from W. Washington Avenue to W. Wilson Street.
As part of the project, Madison Gas & Electric Company will underground its overhead facilities along S. Bedford Street. The City of Madison will fund the undergrounding of the overhead utilities. MG&E will also coordinate the undergrounding of those facilities owned by others that share its poles.
NOW THEREFORE BE IT RESOLVED, that the Common Council hereby authorizes that the Engineering-Major Streets 2007 Capital Budget to be amended to include $170,000 for the undergrounding of overhead utilities in conjunction with the S. Bedford Street Reconstruction project