City of Madison, Wisconsin | Legislative Information Center
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File #: 64254    Version: Name: Substitute Request for Proposals (RFP) for the redevelopment of 415 N. Lake St., the State Street Campus Garage
Type: Resolution Status: Passed
File created: 2/16/2021 In control: Department of Planning and Community and Economic Development
On agenda: 4/20/2021 Final action: 4/20/2021
Enactment date: 4/26/2021 Enactment #: RES-21-00295
Title: SUBSTITUTE - Approving the issuance of a Request for Proposals (RFP) for the redevelopment of 415 N. Lake St., the State Street Campus Garage, (the “Property”) and establishing a process for the review of responses to the RFP and selection of a development team for the Property
Sponsors: Michael E. Verveer, Juliana R. Bennett
Attachments: 1. Draft_ State_Street_Campus_Garage_RFP.pdf, 2. State St Campus Inter City Memo.pdf, 3. Public Comment ITEM 3 the redevelopment of the State Street Campus Garage_Redacted.pdf, 4. State_Street_Campus_Garage_Finance_Staff_memo.pdf, 5. DCC_3-18-21_presentation.pdf, 6. 64254-Version1.pdf
Fiscal Note
The proposed resolution approves a Request for Proposals (RFP) for the redevelopment of 415 N. Lake St., the State Street Campus Garage. An estimated project timeline includes project feasibility determination and development agreement negotiations in 2022, design completion in 2024, and demolition and construction starting in 2025. These phases and dates are subject to change. This project is included on the 2021 Adopted Capital Budget Horizon List, which states that City staff will study the creation of a new Tax Increment Financing district in the greater State Street area to serve as a full or partial funding source for this project. No additional City appropriation is required with approval of the proposed resolution.
Title
SUBSTITUTE - Approving the issuance of a Request for Proposals (RFP) for the redevelopment of 415 N. Lake St., the State Street Campus Garage, (the “Property”) and establishing a process for the review of responses to the RFP and selection of a development team for the Property
Body
WHEREAS the 510 space State Street Campus Garage at 415 N. Lake Street is approaching the end of its useful life and has become financially challenging for the City to continue to invest in its ongoing maintenance; and

WHEREAS the site represents an important opportunity to add a tax-generating development for the benefit of the City and its other taxing jurisdictions that can also provide connectivity, transportation, housing and additional amenities to visitors, residents, and students and more effectively connect downtown Madison and the University of Wisconsin campus; and

WHEREAS the City of Madison desires to construct a mixed-use project containing an intercity bus terminal, public parking structure, ground floor retail, and housing; and

WHEREAS the City wishes to achieve the goals set forth in the attached RFP and also shown below:

· Unlock the development potential of City-owned, tax-exempt parcel to significantly expand the City’s t...

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