Fiscal Note
The acquisition costs include the following: $24,650 for the Purchase Price, $3,000 for a Phase I and/or 2 Environmental Assessments, and $2,000 for miscellaneous closing costs including the City’s portion of pro-rated real estate taxes, recording and settlement fees. Budget authority is available in the Bikeways project within the Engineering Account CS53-58110-810375-00-53W1552-00000000-00000000.
Title
Authorizing the execution of an Purchase and Sale Agreement between the City of Madison and Badger Mill Creek LLC for the purchase of Outlot 5 and 6, Second Addition to Hawk’s Creek subdivision, located at 2554 - 2556 Jeffy Trail for expansion of open space and storm water management purposes.
Body
The City of Madison recently purchased an improved residential parcel containing 9.48 acres located at 7960 Raymond (the “Property”), from the Madison Audubon Society Inc. The Property is also located adjacent to the Second Addition to Hawk’s Creek subdivision. The Property was purchased for public open space and the expansion of the Ice Age Junction Trail, the extension of Jeffy Trail, and future residential development. A preliminary plat called the Wolfe Addition to Hawks’ Creek encompasses the Property and is currently in early planning stages.
The Second Addition to Hawk’s Creek plat includes Outlots 5 and 6 (the “Outlots”) which are vacant and were intended for future development. Due to the aforementioned purchase, the Outlots are now located adjacent to the proposed Wolfe Addition to Hawk’s Creek subdivision and an area designated for public open space and storm water management which has rendered the Outlots as undevelopable.
Due to the proximity of the Outlots to public open space and storm water management areas, the City Engineering Division has offered to purchase said the Outlots from the owners, Badger Mill Creek LLC, the developers of the Hawks’ Creek subdivision. The intentions is to use the Outlots for expansion of open space a...
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