Fiscal Note
The City's Office of Real Estate Services estimates that, when fully implemented, General Fund revenues may increase an estimated $78,000 annually, as follows: the increase in the annual minimum fee from $250 to $500 is anticipated to yield an estimated $60,000 annually; the application fee increase from $500 to $750 may yield an addtional $9,000 annually; the increase in monitoring wells and multiple site locations from $50 to $100 may yield an additional $1,000 annually; and, the change from 3% to 5% of the square foot value for stories above or below the surface may yield $8,000 annually. In 2014, the actual revenue collection may be less than the estimated annual revenues as Real Estate will need to undertake a review of numerous existing agreements to determine the new fees. a process that may take some time, such that a full program implementation may not cycle in until 2015. The 2014 adopted operating budget anticipates up to $22,000 in addiitonal General Fund revenues associated with the proposed fee increases.
Title
Amending Sections 10.31(2)(a), (3)(d) and creating Section 10.31(3)(f)4. of the Madison General Ordinances to increase the fees associated with a privilege in streets.
Body
DRAFTER'S ANALYSIS: The 2014 adopted operating budget contemplates additional revenue from an increase in the privilege in streets fees, which have not been updated since 1997. This amendment increases the application fee, the minimum annual fee, and changes the calculation for fees based on square feet above the surface to eliminate a 10% cap and increase the per-story value from 3% to 5%. In addition, it requires that the fees are re-calculated every five years to address changes in property value.
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The Common Council of the City of Madison do hereby ordain as follows:
1. Subdivision (a) of Subsection (2) of Section 10.31 entitled “Privileges in Streets” of the Madiso...
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