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File #: 57256    Version: 1 Name: Stone House Development Judge Doyle Block 88 Development Team
Type: Resolution Status: Passed
File created: 8/28/2019 In control: Attorney's Office
On agenda: 9/3/2019 Final action: 9/3/2019
Enactment date: 9/6/2019 Enactment #: RES-19-00593
Title: Approving Stone House Development as the Judge Doyle-Block 88 Development Team
Sponsors: Satya V. Rhodes-Conway, Michael E. Verveer, Keith Furman, Shiva Bidar
Date Ver.Action ByActionResultAction DetailsMeeting DetailsWatch
9/3/20191 COMMON COUNCIL Adopt Under Suspension of Rules 2.04, 2.05, 2.24, and 2.25Pass Action details Meeting details Not available
8/28/20191 Attorney's Office RECOMMEND TO COUNCIL TO ADOPT UNDER SUSPENSION OF RULES 2.04, 2.05, 2.24, & 2.25 - MISC. ITEMS  Action details Meeting details Not available
Fiscal Note
This resolution authorizes termination of negotiations with Gebhardt Development and initiation of negotiations with Stone House Development toward an agreement to develop the private element of Block 88 above the publicly-owned below-ground and above ground parking facilities. A development agreement will also include compensation for the air rights and the above-ground Podium structure consisting of ground floor retail space and two floors of above ground parking. A total of $50.4 million has been appropriated from Parking Utility Reserves ($23.4 million), TID 25 incremental revenues ($24 million), City general obligation borrowing ($2.3 million), and remaining Federal TIGER grant funds ($0.7 million). Consulting costs and City staff time related to negotiating a development agreement will be absorbed within the Judge Doyle project budget and current agency budgets. No further city appropriation is anticipated. See staff team report attached to RES-19-00432 (Legistar 56020) for an analysis of the Stone House development proposal, including a proposed payment of $5 million to the city for the Podium element of the project and the air-rights.
Title
Approving Stone House Development as the Judge Doyle-Block 88 Development Team
Body
WHEREAS, on February 26, 2019, the Common Council adopted RES-19-00161 to authorize the issuance of a Request for Proposals (RFP) to seek a developer to complete the private portion of the Judge Doyle - Block 88 project; and
WHEREAS, on March 1, 2019, the City issued the RFP, with a due date of April 15, 2019; and
WHEREAS, on April 15, 2019, three proposals were received by the City of Madison from Gebhardt Development of Madison, WI, Mandel Group of Milwaukee, WI, and Stone House Development of Madison, WI; and
WHEREAS, on June 11, 2019, the Common Council accepted the proposal from Gebhardt Development and authorized the Judge Doyle Negotiating Team to initiate negotiations with Gebhardt Development in accordance with...

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