Fiscal Note
The City has received a State grant of $1 million for Brownfields Remediation. The 2011 adopted City operating budget authorizes expenditures of up to $500,000 in 2011 from the Brownfields Remediation Revolving Loan Fund, of which $425,000 was recently authorized for expenditure in conjunction with the development of the Royster Clark property (Leg. #22135, RES-11-00453, adopted 5-17-11). Therefore, in order to expend an additional $250,000 in Brownfields grant funds as proposed in this Resolution, an amendment to increase to $675,000 the total authorized expenditures from the Brownfields Remediation Revolving Loan fund is required. No additional appropriation is required and there is no impact on the City levy.
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Authorizing the award of a grant of BREWD funds in an amount not to exceed $250,000 to 1102 South Park LLC for the demolition, remediation, and redevelopment of the former Bancroft Dairy property, and adjacent residential properties, into the UW Health Wingra Family Medical Center at 1102 South Park Street, the execution of a BREWD Grant Agreement by the Mayor and City Clerk, and amending the 2011 adopted budget of the Brownfields Remediation Revolving Loan Fund to allow for the additional expenditure.
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WHEREAS, the City of Madison received a $1,000,000 award from the State of Wisconsin to capitalize the Brownfield Remediation/Elimination & Workforce Development (BREWD) program; and,
WHEREAS, the Common Council adopted the current BREWD program guidelines on February 23, 2010; and,
WHEREAS, 1102 South Park Street LLC submitted an application for BREWD funding on April 15, 2011 for the demolition, remediation, and redevelopment of the former Bancroft Dairy property, and adjacent residential properties, comprising approximately 3.77 acres, into the UW Health Wingra Family Medical Center (“Center”) at 1102 South Park Street (“Property”).
NOW THEREFORE BE IT RESOLVED that the Common Council awards a grant of BREWD funds in an a...
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