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File #: 54228    Version: 1 Name: MPM Collaboration Agreement - Public Market Foundation
Type: Resolution Status: Passed
File created: 12/28/2018 In control: FINANCE COMMITTEE
On agenda: 2/5/2019 Final action: 2/5/2019
Enactment date: 2/8/2019 Enactment #: RES-19-00119
Title: Approving the Collaboration Agreement between the City of Madison and the Madison Public Market Foundation, providing a $250,000 grant to the Madison Public Market Foundation, and directing staff to move forward with creating an operating agreement and lease.
Sponsors: Larry Palm, Paul R. Soglin, Amanda Hall, Marsha A. Rummel
Attachments: 1. Public Market Collaboration Agreement 12_27_18.pdf

Fiscal Note

The proposed resolution authorizes the City to enter into a Collaboration Agreement with the Public Market Foundation and provide the Foundation with a grant of $250,000 for costs associated with preparing for operations. The proposed grant will be funded by the Public Market’s available project budget authority authorized in the 2019 capital budget. No additional City appropriation is required.

Title

Approving the Collaboration Agreement between the City of Madison and the Madison Public Market Foundation, providing a $250,000 grant to the Madison Public Market Foundation, and directing staff to move forward with creating an operating agreement and lease.

Body

WHEREAS, the Madison Public Market Business Plan (Legistar #38885) and the Madison Public Market Implementation Strategy (#41819) recommend that the Madison Public Market be owned by the City of Madison and operated by an independent 501c3 non-profit organization with terms established by an operating agreement and a master lease; and,

 

WHEREAS, The City conducted an Request for Qualifications (Legistar #49283) to identify an organization to be the Public Market Operator; and,

 

WHEREAS, The City selected the Madison Public Market Foundation (MPF) as the Public Market Operator and directed staff to develop an operating agreement (Legistar #51091); and,

 

WHEREAS, The Madison Public Market Foundation Board and City staff have developed a Collaboration Agreement establishing initial terms of the partnership between the City and PMF; and,  

 

WHEREAS, the Collaboration Agreement describes the responsibilities of the City and of the PMF in advancing the Madison Public Market project; and,

 

WHEREAS, the Collaboration Agreement is anticipated to be the first in a series of agreements between the City and the PMF and next steps will include an operating agreement and a master lease which will take effect once the Public Market is operating; and,

 

WHEREAS, the Public Market Business Plan and Implementation strategy identified the need to provide the Public Market Operator with funds for startup activities; and,

 

WHEREAS, the Collaboration Agreement includes providing a $250,000 grant to the Madison Public Market Foundation for costs associated with preparing for operations of the market.

 

NOW THEREFORE BE IT RESOLVED, the Mayor and Common Council authorize the Collaboration Agreement between the City of Madison and the Madison Public Market Foundation and direct staff to move forward with creating an Operating Agreement and Master Lease; and

 

BE IT FURTHER RESOLVED, that the Common Council authorizes the Mayor and the City Clerk to enter into a grant agreement for up to $250,000 on behalf of the City with the Madison Public Market Foundation to provide for pre-construction costs; and,

 

BE IT FINALLY RESOLVED, that the Mayor and City Clerk are authorized to execute, deliver, accept and record any and all documents and take such other actions as shall be necessary or desirable to accomplish the purpose of this resolution in a form approved by the City Attorney.