City of Madison - File #: 74309

• File #: 74309
• Version: 1
• Name: 12473 Acquisition 810 W Badger Rd - Centro Hispano
• Type: Resolution
• Status: Passed
• File created: 10/18/2022
• In control: Economic Development Division
• On agenda: 11/1/2022
• Final action: 11/1/2022
• Enactment date: 11/4/2022
• Enactment #: RES-22-00757
• Title: Authorizing the City’s execution of a Purchase and Sale Agreement between the City of Madison and Centro Hispano, Inc. for the City’s purchase of the property located at 810 W. Badger Road in the City of Madison. (14th AD)
• Sponsors: Sheri Carter, Satya V. Rhodes-Conway

Date	Ver.	Action By	Action	Result
11/1/2022	1	COMMON COUNCIL	Adopt	Pass
10/31/2022	1	FINANCE COMMITTEE
10/25/2022	1	COMMON COUNCIL	Refer	Pass
10/18/2022	1	Economic Development Division	Referred for Introduction

Fiscal Note
Legistar File 70640 enacted April 25, 2022 authorized the City to engage in redevelopment activities in support of the Centro Hispano redevelopment project. This support includes transferring several City-owned lots to Centro for little to no consideration, purchasing Centro's existing property, and leasing the existing property back to Centro until its new facility is ready for occupancy. These efforts are achieved through three separate resolutions being considered simultaneously. Legistar File 74311 authorizes the sale of City-owned properties to Centro. Legistar File 74309 authorizes $2.2m from Economic Development's Land Banking capital program to purchase Centro's existing property ($1.7m) and for any related costs ($500k). Legistar File 74312 leases the existing property back to Centro for little to no consideration.

Title
Authorizing the City’s execution of a Purchase and Sale Agreement between the City of Madison and Centro Hispano, Inc. for the City’s purchase of the property located at 810 W. Badger Road in the City of Madison. (14th AD)
Body
WHEREAS, Centro Hispano of Dane County (“Centro”) is a leading social service provider for the Latinx community of Dane County, providing a range of programs for youth and families, workforce and career training services, and numerous community events and workshops; and

WHEREAS, City staff have worked closely with Centro to secure a site that will provide Centro sufficient space to expand its programs through the construction of an estimated $20 million, 25,000 square foot facility (the “Centro Redevelopment Project”), replacing its existing space at 810 W. Badger Road (“Property”); and

WHEREAS, in support of the Centro Redevelopment Project, the City intends to transfer fee simple interest in several City-owned lots to Centro for little to no consideration, as well as provide construction capital for the Centro Redevelopment Project through its purchase of the Property at appraised market value...