Fiscal Note
Real Estate estimates the acquisition costs at $2,100,000. The Central Park Project (MUNIS 10646) within the Parks Division capital budget has sufficient expenditure authority to cover these costs.
Title
Determining a Public Purpose and Necessity and adopting a Relocation Order for the acquisition of land interests required for the acquisitions of additional lands for Central Park. Located in part of SE1/4 of the NE1/4 of Section 13, T7N R9E, and in the SW1/4 of the NW1/4 of Section 7, T7N R10E. (6th AD)
Body
WHEREAS, The City is in the process of constructing the Central Park project, an urban park located in the East Isthmus Corridor in the near east side. The project has been approved for approximately $3.1 million of federal funding in which the federal funds require a 20% local match for construction and land acquisition, which are transportation-related; and,
WHEREAS, the City of Madison has entered into a revised project agreement with the Wisconsin Department of Transportation that revises the estimated costs for the total project based on actual dollar amounts that were spent to date. The revised agreement also provided for inclusion of Federal funds to be used for the purchase of real estate, which were not included in the original project agreement. The Federal funds that remain available will be utilized for land acquisition to expand Central Park in accordance with the approved master plan. The last Council approval of the agreement occurred on April 19, 2016, (Resolution File ID 42337, RES-16-00295); and
WHEREAS, all Federally eligible transportation-related park improvements have been constructed but land acquisitions that are eligible for federal funding have yet to be completed; and,
WHEREAS, the City of Madison Office of Real Estate Services has established a Master File / Project No. 10890 to facilitate and administer acquisition of required land interests; and,
WHEREAS, attached hereto and made part of this resolution...
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