AMENDING RESOLUTION 56-2013 TO CHANGE THE TERM

WHEREAS, Resolution 56 - 2013 authorized a ground lease with Bluffstone LLC for the construction and operation of a residence hall at the University of Wisconsin Baraboo-Sauk County; and,

            WHEREAS, the resolution stipulated that the lease would be allowed “ with the understanding that the lease shall not be for a term of more than thirty years, with the possibility of one, ten-year extension” to run concurrent with the existing lease established through the Memorandum of Understanding  whereby the Board of Regents of the University of Wisconsin System lease the campus from Sauk County and the City of Baraboo to operate the University of Wisconsin Baraboo-Sauk County as an institution of higher learning; and,

            WHEREAS, the Board of Regents has agreed to amend the Memorandum of Understanding and extend the lease of property from the City and the County for an additional fifty years, to 2092, allowing for an extension of the lease with Bluffstone; and,

WHEREAS, Bluffstone is requesting a thirty year lease with a twenty year renewal option for the construction and operation of a residence hall in order to ensure the viability of the project.

            NOW, THEREFORE, BE IT RESOLVED, that Resolution 56-2013 is amended to read “with the understanding that the lease shall not be for a term of more than thirty years, with the possibility of one twenty-year extension,”.

For consideration by the Sauk County Board of Supervisors on January 21, 2014

Respectfully submitted:

UNIVERSITY OF WISCONSIN BARABOO-SAUK COUNTY CAMPUS COMMISSION

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Phil Wedekind, cHAIR                             Tom Kolb, VICE CHAIR

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Tom Geimer                                                 Andrea Lombard

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Scott Von Asten                                      Rebecca DeMars - Secretary

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Cheryl Giese – Treasurer

fiscal note:   This project is a public/private venture whereby the Joint Owners are furnishing the land upon which the residence hall is going to be built and Bluffstone, LLC, incurs the cost of construction and the operation of the residence hall.  As such, there is no direct fiscal impact.

MIS note:  No MIS impact.