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File #: 39800    Version: Name: SECOND SUBSTITUTE Accepting the Report of the Board of Estimates and the August 20, 2015, Report of the Judge Doyle Square Negotiating Team; Authorizing the Mayor and City Clerk to Execute an Amended and Restated Development Agreement with JDS Development
Type: Resolution Status: Passed
File created: 8/20/2015 In control: COMMON COUNCIL
On agenda: 9/15/2015 Final action: 9/29/2015
Enactment date: 10/1/2015 Enactment #: RES-15-00779
Title: AMENDED SECOND SUBSTITUTE - Accepting the Report of the Board of Estimates and the August 20, 2015, Report of the Judge Doyle Square Negotiating Team; Authorizing the Mayor and City Clerk to Execute an Amended and Restated Development Agreement with JDS Development LLC for the Judge Doyle Square Project and Related Agreements, and Directing Follow-up Actions by the City as Described and Agreed to in the Amended and Restated Development Agreement.
Sponsors: Paul R. Soglin, Denise DeMarb, Maurice S. Cheeks, Sara Eskrich, Barbara Harrington-McKinney, Michael E. Verveer
Attachments: 1. 9-22-15 Updated Addendum to Report JDS Negotiating Team.pdf, 2. 9-22-15 Amended & Restated Development Agreement JDS.pdf, 3. RESJI Review & Recommendations of JDS Project.pdf, 4. 9/24/15 Monona Terrace Board JDS Letter.pdf, 5. Substitute 39800.pdf, 6. Original Resolution 39800.pdf, 7. 9-14-15 LETTER Landlords re JDS Parking Ongoing Subsidy.pdf, 8. 9-1-15 Resolution Fiscal Note Memo.pdf, 9. 8-31-15 City - Negotiating Team Addendum - 8.31.15.pdf, 10. 8-24-15 City Negotiating Team Report.pdf, 11. 8-21-15 DRAFT JDS - Amended and Restated Development Agreement 08-21-15.pdf, 12. 8-21-15 JDS TIA COMMENTS.pdf, 13. JDS Council Briefing -- 9-25-2015 update.pdf, 14. affidavit.pdf, 15. Harrington-McKinney amendment.pdf, 16. Second Substitute language
Fiscal Note
Fiscal Note: The adopted 2015 capital budget includes $700,000 under PCED project #12 for the South Capitol Transit Oriented District ($380,000 in Federal TIGER II grant funds and $320,000 in TID 25 proceeds). The Parking Utility budget includes $11.95 million in 2015 for replacement of the Government East parking garage (Parking Utility project #2, Judge Doyle Square Garage).

Additional background information on the project can be found at the Judge Doyle Square page on the City Planning website ().

Staff resources from the Department of Planning & Community & Economic Development, Finance, Traffic Engineering, Parking Utility, Monona Terrace and City Engineering will be allocated to provide support for the negotiation process without the need for an additional appropriation.

All future expenditures associated with the project will require further Council approval other than the costs associated with the review and developer selection and negotiations with the selected developer.

A separate memo from the City Finance Director (attached in Legistar) outlines the various financial elements of the proposal, including anticipated appropriations that will need to be authorized as part of the 2016 Capital Budget. Under the Amended and Restated Development Agreement, the City will receive $15 million for property it owns on Blocks 88 and 105. These proceeds will be deposited in the City’s General, Capital Projects and Parking Utility Enterprise Funds as determined by the City Finance Director. Most of these proceeds will be used to finance various elements of the project through appropriations in the 2016 Capital Budget.

Title
AMENDED SECOND SUBSTITUTE - Accepting the Report of the Board of Estimates and the August 20, 2015, Report of the Judge Doyle Square Negotiating Team; Authorizing the Mayor and City Clerk to Execute an Amended and Restated Development Agreement with JDS Development LLC...

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