Fiscal Note
The proposed resolution authorizes applying for a $500,000 grant from the Wisconsin Economic Development Corporation (WEDC) Idle Sites Grant program. The grant award will be transferred to the Owners of the former Oscar Mayer site to help fund infrastructure costs associated with the reuse of the Property. No City appropriation is required for the grant application. City costs associated with urban development of this area will be included in future operating and capital budgets subject to Common Council approval.
Title
Authorizing the City’s Economic Development Division to submit a grant application for $500,000 to the Wisconsin Economic Development Corporation (WEDC) Idle Sites Grant program to fund infrastructure costs on the former Oscar Mayer site and authorizing the Mayor and City Clerk to enter into a contract with WEDC to accept Idle Sites Grant funding if it is awarded and a Memorandum of Understanding with the new owners of the former Oscar Mayer site for the use of the funds.
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WHEREAS, City of Madison staff are working with the new owners (“Owners”) of the former Oscar Mayer site (“Property”) on plans for the reuse of the Property; and,
WHEREAS, one of the initial barriers to reusing the Property is the need to disentangle and rebuild the electrical, water, and sewer infrastructure throughout the site; and,
WHEREAS, The Wisconsin Economic Development Corporation’s (WEDC) Idle Sites Grant program provides funding to Wisconsin municipalities to fund costs needed to facilitate reinvestment in former industrial property that is currently idle.
NOW THEREFORE, BE IT RESOLVED, that City Staff is authorized to submit a grant application for $500,000 to WEDC’s Idle Sites Grant Program (“Grant”) to fund a portion of the new owner’s (“Owners”) costs of reconstructing infrastructure on the former Oscar Mayer site (“Property”); and,
BE IT FURTHER RESOLVED, that the Mayor and City Clerk are authorized to sign a Memorandum of Understanding...
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