FINANCE COMMITTEE
VIRTUAL
Agenda — 21 items
- 1 NOTE: A quorum of the Common Council may be present at this meeting.
- 2 The City of Madison is holding the Finance Committee meeting virtually to help protect our community from the Coronavirus (COVID-19) pandemic. 1. Written Comments: You can send comments on agenda items to financecommittee@cityofmadison.com 2. Register for Public Comment: • Register to speak at the meeting. • Register to answer questions. • Register in support or opposition of an agenda item (without speaking). If you want to speak at this meeting you must register. You can register at https://www.cityofmadison.com/MeetingRegistration. When you register to speak, you will be sent an email with the information you will need to join the virtual meeting. 3. Watch the Meeting: If you would like to join the meeting as an observer, please visit https://www.cityofmadison.com/watchmeetings. 4. Listen by Phone: (877) 853-5257 (Toll Free) Webinar ID: 859 7433 1884
- 3 CALL TO ORDER / ROLL CALL
- 1. PUBLIC COMMENT
- 5 DISCLOSURES AND RECUSALS
- 6 CONSENT AGENDA
- 7 ITEMS TO BE CONSIDERED
- 2. Create new or modify existing classifications for position placement in the 2025 operating budget as adopted by the Common Council.
- 3. Amending Subsection 4.08(2) of the Madison General Ordinances to allow for an alternate interest rate on certain installment payments.
- 4. Authorizing a loan to Little Tibet Market & Café or its assigns in the amount of $125,000 for real estate improvements to the commercial property at 1113 North Sherman Avenue through the TID 54 Small Cap TIF loan program using TID #54 incremental revenue as authorized in an amendment to the TID #54 Project Plan (RES-23-00507) adopted by the Common Council on July 25, 2023. (District 12)
- 5. Authorizing the Mayor and City Clerk to enter into a contract amendment with Trapeze Software Group, Inc. to the System Supply & Maintenance Agreement entered into on February 10, 2016 to extend coverage for Trapeze back-office software that went out of warranty at the end of 2024 through 2025. The cost of this contract amendment will not exceed $276,376 in the Transit Utility 2025 operating budget.
- 6. Authorizing the City’s execution of a Purchase and Sale Agreement and Lease between the City of Madison and The Salvation Army or their successors and assigns, for the purchase of the property located at 3030 Darbo Drive in the City of Madison, and leaseback period subsequent to closing. (District 15)
- 7. Approving the City of Madison’s application to the Public Service Commission of Wisconsin Office of Energy Innovation (PSC-OEI) 2023 Energy Innovation Grant Program for the project “Monona Terrace Geothermal Feasibility Study”; authorizing the Mayor and City Clerk to execute the associated grant agreement with the PSC-OEI; amending the 2024 Adopted Capital Budget to accept the grant award of $50,000 in state funding; and approving the sole source contract with Hammel, Green and Abrahamson, Inc. (HGA) as a grant partner. (District 4)
- 8. Authorizing a refinance of a Community Facilities Loan to YWCA Madison, Inc., originally for the sum of $87,000, and increasing the loan amount by $91,150 for a total of up to $178,150 to support facility improvements at 2040 S. Park Street, authorizing the Mayor and City Clerk to sign an agreement for that purpose. (District 14)
- 9. Authorizing the use of up to $123,000 of federal Community Development Block Grant (CDBG) funds and authorizing the Community Development Division to enter into agreements with the Parks and Traffic Engineering Divisions in order to implement neighborhood improvement projects identified in the South Madison Neighborhood Plan (District 14).
- 10. Authorizing the use of up to $250,000 of federal Community Development Block Grant (CDBG) funds and authorizing the Community Development Division to enter into agreements with the Madison Metropolitan School District and the Planning, Parks and Traffic Engineering Divisions to implement neighborhood improvement projects identified in the Hawthorne-Truax Neighborhood plan. (District 12)
- 11. SUBSTITUTE Authorizing the allocation of up to $4.8 million of Federal HOME Partnership Investment Program (HOME) funds and $5.2 million of Federal Emergency Rental Assistance Program funds, authorized under the American Rescue Plan Act and currently uncommitted, to Madison Revitalization and Community Development Corporation, or an affiliate LLC, to help finance Phase 1 of the redevelopment of the Triangle public housing site, and authorizing the Mayor and the City Clerk to enter into a Loan Agreement. (District 13)
- 12. SUBSTITUTE-Awarding up to $9,850,000 from the Affordable Housing Fund to support four affordable housing development projects, selected through a City Request for Proposals (RFP) process, that will support construction of approximately 275270 units of new rental housing in Madison, 167 of which will be affordable, and authorizing the Mayor and City Clerk to execute loan agreements with the developers of those projects (District 12, District 18 and District 19)
- 19 CLOSED SESSION
- 13. Discussion regarding negotiations with Mandel Group for possible investment of Tax Increment Finance (TIF) funds into an affordable housing project proposed to be located at 5546 Element Way.
- 21 ADJOURNMENT