City of Madison - File #: 79128

• File #: 79128
• Version: 1
• Name: Authorizing a loan of up to $400,000 to Bayview Foundation, Inc. from the Community Facilities Loan Program to help finance the construction of community center programming space at 601 Bay View, and authorizing the Mayor and City Clerk to enter into a co
• Type: Resolution
• Status: Passed
• File created: 7/25/2023
• In control: Community Development Division
• On agenda: 9/5/2023
• Final action: 9/5/2023
• Enactment date: 9/7/2023
• Enactment #: RES-23-00562
• Title: Authorizing a loan of up to $400,000 to Bayview Foundation, Inc. from the Community Facilities Loan Program to help finance the construction of community center programming space at 601 Bay View, and authorizing the Mayor and City Clerk to enter into a contract for that purpose. (District 13)
• Sponsors: Satya V. Rhodes-Conway, Tag Evers, Nikki Conklin, Dina Nina Martinez-Rutherford, Kristen Slack

Date	Ver.	Action By	Action	Result
9/5/2023	1	COMMON COUNCIL	Adopt	Pass
8/28/2023	1	FINANCE COMMITTEE	RECOMMEND TO COUNCIL TO ADOPT - REPORT OF OFFICER	Pass
8/3/2023	1	COMMUNITY DEVELOPMENT BLOCK GRANT COMMITTEE	Return to Lead with the Recommendation for Approval	Pass
8/1/2023	1	FINANCE COMMITTEE	Referred
8/1/2023	1	COMMON COUNCIL	Refer	Pass
7/25/2023	1	Community Development Division	Referred for Introduction

Fiscal Note
The proposed resolution would authorize a $400,000 loan to Bayview Foundation, Inc. from the Community Facilities Loan (CFL) Program (MUNIS project 13944). The CFL program was established in the Community Development Division’s (CDD) 2022 Capital Budget, which allocated $1 million in GO Borrowing to support smaller capital projects proposed by non-profit partners to meet facility needs. No funds were expended in 2022, and the unused amount was reauthorized in the 2023 budget. CFL program guidelines set at maximum loan amounts for construction projects of the lesser of $400,000 or 20% of total eligible project costs. As of July 25, 2023, three CFL loans have been approved by the Common Council: one for $400,000 (RES-23-00125, File 75563), the second for $68,000 (RES-23-00191, File 76394) and the third for $87,000 (RES-23-00411, File 77544). No additional City appropriation is required.
Title
Authorizing a loan of up to $400,000 to Bayview Foundation, Inc. from the Community Facilities Loan Program to help finance the construction of community center programming space at 601 Bay View, and authorizing the Mayor and City Clerk to enter into a contract for that purpose. (District 13)
Body
WHEREAS, the City of Madison’s Community Facilities Loan (CFL) Program provides low-cost financing to support non-residential development projects undertaken by non-profit organizations in the City of Madison that involve the acquisition and/or substantial improvement of a property; or the redevelopment, improvement or rehabilitation of property an eligible organization already owns or leases; and,

WHEREAS, the City’s objective through the CFL Program is to create or improve safe, accessible, energy efficient and well-maintained community and neighborhood facilities; and,

WHEREAS, Bayview Foundation, Inc. is undertaking a substantial, multi-phase redevelopment of its affordable housing properties in the Triangle neighborhood, which includes the replacement of its com...