City of Madison, Wisconsin | Legislative Information Center
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File #: 42489    Version: 1 Name: Authorizing the execution of a lease at 2422 Pennsylvania Avenue for warehouse space for Metro Transit and amending the 2016 Adopted Operating Budget to appropriate $62,537 from Metro Fund Balance.
Type: Resolution Status: Passed
File created: 4/12/2016 In control: BOARD OF ESTIMATES (ended 4/2017)
On agenda: 5/3/2016 Final action: 5/3/2016
Enactment date: 5/5/2016 Enactment #: RES-16-00329
Title: Authorizing the execution of a lease at 2422 Pennsylvania Avenue for warehouse space for Metro Transit and amending the 2016 Adopted Operating Budget to appropriate $62,537 from Metro Fund Balance.
Sponsors: Larry Palm
Attachments: 1. 11015 2422 Pennsylvania Ave Exhibit A- Copy.pdf, 2. 11015 2422 Pennsylvania Ave Exhibit B.pdf
Fiscal Note
The proposed resolution amends the 2016 Adopted Operating Budget to appropriate $62,537 from Metro’s fund balance costs associated with the leased maintenance facility for Metro. The recommended funding level will support terms in lease agreement, upfront costs, and the associated utility costs for the remainder of 2016. The intent of the proposed leased facility is to increase available space to support the repair and maintenance services required for the transit fleet in Metro’s fixed route and para-transit programs. Following the transfer of these funds, the remaining balance in Metro’s 2016 contingency will be $7,391,029. The proposed lease agreement incorporates an annual 3% increase in both lease and utility cost for each subsequent year.

The proposed resolution approves the five year lease agreement for an estimated total cost of $441,451. The annualized cost of the five year term by fiscal year, including utilities, is as follows:

Fiscal Year Annualized Cost
2016 $ 62,537
2017 $ 83,290
2018 $ 85,736
2019 $ 88,295
2020 $ 90,970
2021 $ 30,623
Total $ 441,451

Title
Authorizing the execution of a lease at 2422 Pennsylvania Avenue for warehouse space for Metro Transit and amending the 2016 Adopted Operating Budget to appropriate $62,537 from Metro Fund Balance.
Body
This lease will help free up space within Metro’s bus barn by removing the building and grounds maintenance operation vehicles and equipment which is estimated to occupy roughly 17,000 square feet. This lease opens up space to park an additional 6 to 7 buses and an area to conduct maintenance on the buses. Space located at 2422 Pennsylvania Avenue has been identified by staff as suitable for accommodating F-450 trucks, maintenance operations, equipment and supply storage.

NOW, THEREFORE, BE IT RESOLVED that the Mayor and City Clerk are authorized to execute a lease (the “Lease”) with CAG Develo...

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