Fiscal Note
The proposed resolution authorizes the City’s acquisition of property for the Cedar Street public right-of-way. The estimated acquisition cost for this parcel is $280,000 for the land plus $10,000 in additional real estate costs for environmental site assessment, title work, and miscellaneous closing costs for a total amount of $290,000. Funding for the acquisition is included in Engineering’s 2020 Capital Budget in the Cedar Street construction project. No additional City appropriation is required.
Title
Authorizing the City’s execution of a Purchase and Sale Agreement between the City of Madison and Wingra Building Group and/or their assigns and partners for the City’s acquisition of a portion of the property located at 1313 South Street for the proposed Cedar Street public right-of-way. (13th AD)
Body
WHEREAS, Wingra Building Group, a Wisconsin general partnership, managed by Dean Health Systems, Inc., operated by SSM Health (collectively, the “Seller”) is the owner of the property located at 1313 South Street, City of Madison, Dane County, Wisconsin (“SSM Property”), which is proposed for redevelopment; and
WHEREAS, the City of Madison (“City”) Plan Commission conditionally approved the Seller’s redevelopment plans for the SSM Property at its February 24, 2020 meeting subject to the condition that the Seller produce and record a City approved Certified Survey Map (“CSM”) with the Dane County Register of Deeds that creates a legal lot to be conveyed to the City; and
WHEREAS, the City’s Common Council conditionally approved the CSM at its March 3, 2020 meeting with the condition that Outlot 2 of the CSM is subject to a restriction that it is reserved for future purchase by the City for public right-of-way purposes; and
WHEREAS, the Seller executed and agreed to a Purchase and Sale Agreement (“Agreement”) that conveys Outlot 2 of the CSM to the City for a purchase price of $280,000, as determined by an appraisal approved by the City’s Office o...
Click here for full text