City of Madison - File #: 80200

• File #: 80200
• Version: 1
• Name: Authorizing the execution of a Purchase and Sale Agreement for the acquisition of a portion of the property located at 2007 Roth Street
• Type: Resolution
• Status: Passed
• File created: 10/3/2023
• In control: FINANCE COMMITTEE
• On agenda: 10/17/2023
• Final action: 10/17/2023
• Enactment date: 10/19/2023
• Enactment #: RES-23-00660
• Title: Authorizing the execution of a Purchase and Sale Agreement between Lincoln Capital Acquisition LLC, or their successors and assigns (“Seller”) and the City of Madison (“Purchaser”) for the acquisition of a portion of the property located at 2007 Roth Street (“Property”) for the Parks Division. (District 12)
• Sponsors: Amani Latimer Burris

Date	Ver.	Action By	Action	Result
10/17/2023	1	COMMON COUNCIL	Adopt	Pass
10/11/2023	1	BOARD OF PARK COMMISSIONERS	Return to Lead with the Recommendation for Approval	Pass
10/9/2023	1	FINANCE COMMITTEE	RECOMMEND TO COUNCIL TO ADOPT - REPORT OF OFFICER	Pass
10/3/2023	1	COMMON COUNCIL	Refer to a future Meeting to Adopt	Pass
10/3/2023	1	Economic Development Division	Referred for Introduction

Fiscal Note
The proposed resolution authorizes the execution of a Purchase and Sale Agreement between the City of Madison and Lincoln Capital Acquisition LLC for a portion of the property located at 2007 Roth Street. The estimated total cost of the acquisition is $1,000,000. Funds are available in the Parks Division's 2023 Adopted Capital Budget Land Acquisition Program (Munis #14210). No additional appropriation is required.
Title
Authorizing the execution of a Purchase and Sale Agreement between Lincoln Capital Acquisition LLC, or their successors and assigns (“Seller”) and the City of Madison (“Purchaser”) for the acquisition of a portion of the property located at 2007 Roth Street (“Property”) for the Parks Division. (District 12)
Body
WHEREAS, the Oscar Mayer Special Area Plan adopted by the City of Madison Common Council on July 21, 2020 (Legistar File No. 59745) recommends increasing parks, urban open spaces and recreational opportunities throughout the planning area, specifically by designating approximately 16 acres of the Hartmeyer property as an active park; and,

WHEREAS, the Property includes approximately 303,314 square feet of wetland, with the balance of 345,512 square feet of developable upland; and,

WHEREAS, the Seller is required to dedicate 405,902 square feet of this Property to the City of Madison Parks Division as part of an adjacent development project; and,

WHEREAS, the City of Madison desires to include the wetland area as part of the park that will be created with the land division and development, consistent with the Oscar Mayer Special Area Plan; and,

WHEREAS, a portion of the developable upland is potentially encumbered (to be designated as a private Outlot), but it is in the City’s interest to acquire these lands as part of the future park property; and,

WHEREAS, the City and the Seller have agreed that the portion of the Property that will not be dedicated to the City, including portions of the wetland and the Outlot are va...