City of Madison, Wisconsin | Legislative Information Center
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File #: 56648    Version: 1 Name: Early Attachment Agmt - 30 Nob Hill Rd
Type: Resolution Status: Passed
File created: 7/9/2019 In control: BOARD OF PUBLIC WORKS
On agenda: 8/6/2019 Final action: 8/6/2019
Enactment date: 8/9/2019 Enactment #: RES-19-00582
Title: Authorizing the Mayor and City Clerk to enter into an Early Attachment and Revenue Sharing Agreement with the Town of Madison to facilitate the attachment and redevelopment of the portion of the parcel located at 30 Nob Hill Road in the Town.
Sponsors: Sheri Carter
Attachments: 1. 56648_Map.pdf, 2. Early Attachment Agreement (Nob Hill Rd.), 3. Exhibit A Nob Hill Lining Limits.pdf, 4. Exhibit B.pdf, 5. Executed Agreement_10-14-19.pdf
Fiscal Note
The proposed resolution authorizes an Early Attachment and Revenue Sharing Agreement for 30 Nob Hill Road Project with the Town of Madison. The City of Madison and Town of Madison agree that municipal revenue sharing of the local share of property tax revenue from the proposed Development is appropriate, provided that at a minimum the Town shall receive the amount it would otherwise collect if the Property remained in the Town. The 2018 local property tax for the parcel currently located in the Town of Madison is approximately $776. The 2018 local property tax for the parcel currently located in the City of Madison is approximately $1,077.

Title
Authorizing the Mayor and City Clerk to enter into an Early Attachment and Revenue Sharing Agreement with the Town of Madison to facilitate the attachment and redevelopment of the portion of the parcel located at 30 Nob Hill Road in the Town.

Body
WHEREAS, the City of Madison (hereinafter referred to as the “City”), the Town of Madison (the “Town”) and the City of Fitchburg entered into a Cooperative Plan approved by the State of Wisconsin Department of Administration pursuant to Wis. Stat. § 66.0307 on October 10, 2003; and,

WHEREAS, the City and Town agreed that no attachments or annexations of Town lands would occur to the City prior to final attachment at the end of the protected period on October 31, 2022, or such earlier time when the Town ceases to exist as a separate entity, except as expressly provided in said Cooperative Plan; and,

WHEREAS Sections 8.A.1 of said Cooperative Plan allows a property owner in the Town to petition the City for early attachment following approval by the Town Board; and,

WHEREAS the property addressed as 30 Nob Hill Road (the "Property) is located both in the City and Town, respectively as parcels 251-0709-361-0092-7 and 032-0709-361-8405-7; and

WHEREAS, the owner of the Property desires to redevelop the site with an office building (the "Project") that would strad...

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