Fiscal Note
The recommendations would require the City (on behalf of the CDA), as part of the CDA's acquisition of the Truman Olson Army Reserve Center, to purchase a separate site for development of housing to assist homeless persons, as proposed by Porchlight and Goodwill. A parcel of land located on Nakoosa Trail that is currently owned by the City of Madison Water Utility has been identified as a favorable site for Porchlight. The value of the land is estimated to be $425,000 for a buildable site. An alternative location to accomodate Goodwill has yet to be identified, and a cost to accommodate Goodwill has yet to be determined. Funds will likely be required sometime between 2009 and 2011.
In addition, the recommendations include purchase by the CDA of the Truman Olson Reserve Center for public infrastructure and development purposes that comport with the Wingra BUILD Plan. The appraised value of the Truman Olson site is currently estimated to be $1.3 million, with acquisition likely to occur in 2011. Additionally, an estimated $900,000 is required for the demolition of the existing Truman Olson structure and the construction of a Cedar Street extension, which is likely to occur in 2012.
Further Council authorizations will be required for Resolutions enabling the purchase of the proposed Nakoosa Trail site, the accommodation of Goodwill, and the purchase of the Truman Olson Reserve Center, and for inclusion in the City capital budget.
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AMENDED - Adopting the recommendations outlined in the Redevelopment Plan, Homeless Assistance Submission, and Public Comment documents regarding the Truman Olson United States Army Reserve Center (1402 S. Park Street) property and authorizing submission by the LRA of said documents to the Federal Government.
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WHEREAS, the Community Development Authority (CDA) of the City of Madison, Wisconsin was designated the Local Redevelopment Authority (LRA) for the disposition of the Truman Olson United States Army Reserve ...
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