City of Madison, Wisconsin | Legislative Information Center
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File #: 27233    Version: 1 Name: 9010 Truman Olson Offer - Sales Agmt
Type: Resolution Status: Passed
File created: 7/27/2012 In control: BOARD OF ESTIMATES (ended 4/2017)
On agenda: 9/4/2012 Final action: 9/4/2012
Enactment date: 9/6/2012 Enactment #: RES-12-00655
Title: Authorizing the execution of an Offer to Purchase Real Property, Acceptance and Sales Agreement for the purchase of the former Truman O. Olson Army Reserve Center located at 1402 South Park Street and authorizing the City to indemnify and hold harmless the United States of America.
Sponsors: Sue Ellingson
Attachments: 1. 9010 Exhibit.pdf, 2. PC Registration Forms 082012.pdf, 3. Registration Forms from 9-4-12 Common Council Meeting.pdf
Fiscal Note
Funds for the purchase of this property, estimated at $1,078,600, plus closing costs are authorized in the 2012 PCED Adopted Capital Budget, Project No. 12, "TID 42 - Wingra," Account No. 824201. The purchase of this property will be charged against TID# 42-Wingra.
Title
Authorizing the execution of an Offer to Purchase Real Property, Acceptance and Sales Agreement for the purchase of the former Truman O. Olson Army Reserve Center located at 1402 South Park Street and authorizing the City to indemnify and hold harmless the United States of America.
Body
The former Truman O. Olson U.S. Army Reserve Center located at 1402 South Park Street (the “Property”) is being disposed of by the federal government. The Property consists of approximately 3.49 acres, with a 25,727 square foot permanent structure and two surface parking lots. The Property was previously used by the U.S. Army Reserve for administrative and training activities. The federal government has declared the Property surplus to its needs. As required under federal statutes, the Community Development Authority of the City of Madison (the “CDA”) has been designated by the Common Council as the Local Redevelopment Authority (the “LRA”) for the disposition of the Property.

Acting as the LRA, the CDA has drafted a Redevelopment Plan recommending that the Property be used for economic development purposes, including the demolition of the improvements located thereon and the extension of Cedar Street through the Property, as outlined in the City’s Wingra BUILD Plan and as accommodated by the Notices of Interest in the Property from both Porchlight and Goodwill, which Notices provide alternate locations for homeless facilities. On September 9, 2008, the Common Council adopted a resolution (File No. 11307, Enactment No. RES-08-00864) that adopted the recommendations in the Redevelopment Plan, the Homeless Assistance Submission (including Legally Binding Agreements with Porchlight and Goodwill) an...

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