Alder Marsha A. Rummel,
210 Martin Luther King, Jr. Blvd
Madison, WI 53703
Phone: (608) 266-4071
Fax: (608) 267-8669
WI Relay Service
Alder Rummel’s Updates
Support Madison Public Market Capital Budget Amendment 2 Monday Nov 14
If you support the Public Market, please send a letter to email@example.com in support of Capital Budget Amendment 2 and in opposition to the amendment to cut funds proposed by Alders Eskrich, Ahrens, Bidar, Clear and Phair. Please include your address with your comments.
Several alders have introduced an amendment to the 2017 capital budget that removes funding of $1.2M for the Madison Public Market. The sponsors want to make future borrowing authority for the project contingent upon receiving $8,750,000 in private and federal funding. Their amendment would stop planning that is currently underway with Graham/Baba the architecture/engineering firm hired by the city to work with the owners of the Washington Plaza (FKA the Fiore shopping center) to do site planning, stop the efforts of consultants who are actively seeking New Market Tax Credit investors and stop the public process to review options to redevelop the E Washington/1st Street/E Johnson site as a mixed use development that includes the Public Market, retail commercial and residential uses.
Alders Palm, Verveer and myself who support the Public Market have also offered an amendment, Capital Budget Amendment #2, to match criteria adopted last year by the Council that the Mayor left out of his proposed 2017 budget for the Public Market. I am a co-sponsor. We hope restoring this language will address concerns.
Capital Budget Amendment #2: "No planned General Obligation Borrowing will be appropriated for construction of the Public Market until the following conditions have been met: (1) The project has completed final design, the operating entity for the project has been established, (2) the total capital cost of the project has been determined, (3) all sources of capital have been committed, (4) the project has secured all required land use approvals, and (5) the overall development plan (design, operating plan, and capital financial structure) for the project has been approved by the Common Council.?"
The budget meeting starts Monday Nov 14 at 5:30p in Monona Terrace, Exhibition Hall B. If you would be wiling to come and testify you can speak for 5 minutes on the capital and for 5 minutes on the operating budget. https://madison.legistar.com/View.ashx?M=A&ID=440612&GUID=79B1F55E-4103-4FD5-88D6-CBF42A7855D0 You can also watch the meeting live on the web or via cable TV on CityChannel.
The 2017 Executive budget allocates $1.2M to provide funds for costs associated with land acquisition, planning, site preparation and construction of the Madison Public Market. The 2018 Capital Improvement Plan shows $11.8M for construction using General Obligation borrowing and outside sources including New Market Tax Credits and state and federal grants. The goal of the project is to facilitate the retention, development and expansion of food based businesses and related employment.
I have served on the Madison Local Food Committee since its inception five years ago and have been a steward of the Public Market project since 2008. After years of hard work, we are close to having a real project that will strengthen our local and regional food economy, create retail and wholesale opportunities and export products to other parts of the country and the world.
Our recent effort to collaborate with the owners of the Washington Plaza shopping center adds more value to the Public Market project with a review of additional mixed use development at the corner of E Washington and 1st St.
I hope you will join me in supporting sustainable economic development that uses city funds to invest in infrastructure that will expand our regional advantages as a local and sustainable food cluster and potentially add value to this important east side gateway to the city, adjacent to Burr Jones Park and the Yahara River.
A major goal of the Public Market's is to provide low-cost and low-barrier opportunities to start businesses for women, people of color, immigrants and others and bring together food related sectors from sustainable agriculture, artisan processing, wholesaling and food servicing. The business plan projects that an estimated 35 new businesses will be incubated at the Public Market within the first five years.
We have used the City's equity toolkit to ensure that we have effective and meaningful outreach to a diverse array of future vendors. The Committee adopted the concept of a public market district that will connect to the north side food innovation corridor and city wide food system assets. We have done extensive outreach including surveys of residents and potential vendors. We have met with community partners and held focus groups. We are putting in place an organizational structure that will eventually operate and manage the Public Market as a nonprofit. We are currently working on a Market Ready program to provide technical assistance through micro-enterprise grants to help prepare future vendors to participate once it opens. And we have been partnering with Dane County Farmers Market, FEED Kitchen, Garver Feed Mill, Madison College, UW Extension, Latino Chamber, UW Business Development Center, WWBIC, Common Wealth Development and the Friends of the Madison Public Market.
In 2015, MadRep, the Madison Region Economic Partnership secured federal recognition of the Madison Region as one of 12 communities that are highlighted by the feds for investment. The 12 designated IMCP communities have received coordinated support and a dedicated liaison for their economic development strategies from federal agencies who collectively control more than $1B in federal economic development assistance. http://www.imec.org/2015-IMCP-Designation.cfm. The Public Market was a key component of the proposal submitted by MadRep.
In 2016, we issued an RFP to hire consultants to assist the city with developing a capital fundraising plan and seeking New Market Tax Credits. We engaged Hope Community Capital to help us structure and manage finance tools like NMTC that leverage all sources of funds and Amanda White LLC to provide fundraising services. https://madison.legistar.com/LegislationDetail.aspx?ID=2736506&GUID=84CA01D6-B3E2-4676-9033-72160F5CFC83
In 2017, we will continue with site planning and if a decision to build at the Washington Plaza site is approved by the Common Council, we will begin discussion with the property owner about purchase of a portion of the site to build the Public Market.
The Public Market was first included in the 2008 adopted Capital Improvement Plan. A business plan was authorized in 2013 and completed in 2015. In the spring of 2016 resolutions were approved for consulting and architectural design services to continue planning efforts for the Public Market. These expenses were funded through a previously awarded UDAG grant (the remaining balance of the grant award is $744,000). As proposed in the Executive Budget, funding for the project will be split between General Obligation Borrowing (33%), federal funds (48%), and private contributions (19%).
We are building momentum. Help us continue to move forward. Please share your support of the Public Market by contacting firstname.lastname@example.org.
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