Fiscal Note
This vacation and discontinuance of approximately 27,241 sq. ft. or 0.62 acres of the remaining portion of Graaskamp Way within the plat of The Center For Industry & Commerce. No Appropriation Required.
Title
Discontinuing and vacating a portion of Graaskamp Way within the plat of The Center For Industry & Commerce, being located in the Northwest 1/4 of Section 16, Township 8 North, Range 10 East, City of Madison, Dane County, Wisconsin. (17th AD)
Body
WHEREAS, the plat of The Center For Industry & Commerce was conditionally approved by the City of Madison Common by Resolution No. 60240, File I.D. Number 33441, as adopted on the 18th of February, 2003 and the said Resolution provided for the acceptance of the lands dedicated for public street right-of-ways, including Graaskamp Way; and
WHEREAS, the plat of The Center For Industry & Commerce was subsequently recorded upon the satisfaction of the conditions of approval on the 8th of May, 2003 in Volume 58-024B of Plats on pages 129 - 134, as Document Number 3708481, Dane County Register of Deeds; and
WHEREAS, the Common Council adopted Resolution RES-13-00460, File I.D. Number 30382 on June 18, 2013 which authorized the execution of an “Agreement to Terminate the ’Agreement to Purchase and Undertake Development of the Northeast Industrial Property’ ” (“Purchase and Development Agreement”) which was executed between the City of Madison (“City”) and The Center for Industry & Commerce, LLC (“LLC”) for the development of a mixed-use industrial park. Under the terms of the termination, in exchange for a mutual termination of the Purchase and Development Agreement by the City and LLC, the LLC was relieved of any remaining obligations under the Purchase and Development Agreement, thus providing the City of Madison full control of the remaining lands not yet purchased by a third party for development and sale; and
WHEREAS, the Common Council adopted Resolution RES-17-00047, File I.D. Number 45286, on Ja...
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