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From the Fiscal and Budget Administrator, an informational report on the budgetary impact of the proposed UWM Land Sale Extension. (INFORMATIONAL ONLY UNLESS OTHERWISE DIRECTED BY THE COMMITTEE)
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The Finance and Audit and the Economic and Community Development Committees during January
2011 will consider an amendment to the payment schedule associated with the sale of County-owned
land located in the northeast quadrant of the County Grounds to UWM Innovation Park, LLC. This
amendment would extend each of the purchase price installment dates by twenty-tour months. This
includes the second installment of $5 million that was originally planned tor one year after the closing and was included in the 2011 Capital Budget to cash finance various capital projects. The first installment of $5 million which will still be received at closing based on this amendment was included in the 2010 operating and capital budgets - $3,611,300 as revenue in the operating budget and $1,388,700 in the capital budget to cash finance various capital projects.