Fiscal Note
The proposed resolution amends Traffic Engineering’s 2018 adopted Capital Budget by increasing authority for the Hilldale Way - Maple Terrace - University Avenue traffic signal project (Munis project 45852) by $500,000. The Village of Shorewood will pay for 50% of the cost to install a new traffic signal ($250,000), with the remainder funded by special assessments to the property owners.
Title
Amending Traffic Engineering's 2018 Adopted Capital Budget by increasing authority for the Hilldale Way - Maple Terrace - University Avenue traffic signal assessment district project funded by Special Assessments.
Body
WHEREAS, the assessable funds required to pay for this project were not included in Traffic Engineering’s 2018 Capital budget; and
WHEREAS, the Common Council of the City of Madison adopted a preliminary resolution, declaring its intention to exercise police powers and special assessment costs for installation of traffic signals for the Hilldale Way - Maple Terrace - University Avenue traffic signal assessment district and all other statutory requirements, pursuant to Section 66.0703(4), Wis. Statutes; and
WHEREAS, the Board of Public Works having reported on all the proceedings in relation to the installation of traffic signals for the Hilldale Way - Maple Terrace - University Avenue traffic signal assessment district in accordance with Section 66.0701 of the Wisconsin Statutes and having in all things duly conformed to the order of the Common Council in relation thereto, and the provisions of the Madison General Ordinances and the Wisconsin Statutes in such case made and provided, and the Common Council being fully advised;
NOW, THEREFORE, BE IT RESOLVED, that Traffic Engineering’s 2018 Capital Budget is amended to increase it by $ 250,000.00 for the assessable portion, and by $250,000.00 for the other government payment for services of the Hilldale Way - Maple Terrace - University Avenue traffic signal assessment district.