Fiscal Note
Private Contract, No City Funds Required.
Title
Approving plans and specifications for public improvements necessary for the project known as 502 S. Park Street and 917-925 Drake Street PUD and authorizing construction to be undertaken by the Developer, Private Contract No. 2321. (13th AD)
Body
WHEREAS, the developer, The Ideal, LLC, has received the City of Madison's conditional approval for a Planned Unit Development (PUD) and demolish and existing auto body shop and three residences to allow construction of mixed-use building, and,
WHEREAS, Section 16.23(9) of the Madison General Ordinances and the conditions of approval require the developer to install the public improvements necessary to serve the PUD.
NOW, THEREFORE, BE IT RESOLVED:
1. That the Mayor and City Clerk are hereby authorized and directed to execute a Contract For the Construction of Public Improvements that will be accepted by the City of Madison For 502 S. Park Street and 917-925 Drake Street PUD, with The Ideal, LLC.
2. That the plans and specifications for the public improvements necessary to serve the PUD are hereby approved.
3. That the developer is authorized to construct the public improvements in accordance with the terms of the Contract For the Construction of Public Improvements that will be accepted by the City of Madison at the sole cost of the developer, except as follows: NONE
4. That the Mayor and City Clerk are hereby authorized to sign and grant easements or right-of-way release or procurement documents, maintenance agreements or encroachment agreements, as necessary and grant or accept dedication of lands and/or easements from/to the Developer/Owner for public improvements located outside of existing public fee title or easement right-of-ways.
5. The Common Council is approved to accept ownership of the improvements in the Maintenance Area if a maintenance agreement is executed and recorded as a condition of this contract.