The city may loan $9 million to the Madison School District with the funds to be repaid through a surplus in a booming Downtown tax increment financing district when it closes.
MADISON SCHOOLs | POSSIBLE BUDGET SOLUTION
City may provide $9 million loan to school district with repayment through TIF district surplus
This rendering shows JDS Development's proposal for Judge Doyle Square, which features a corporate headquarters for biotech Exact Sciences Corp. The city and Madison School District are discussing an arrangement that would deliver a $9 million loan to the schools that would be repaid from a Downtown tax incremental financing district that could also support the redevelopment project.
Property taxes could go up by 4.9 percent, if approved.
One proposal includes 357,000 square feet of office space for Exact Sciences Corp. as anchor tenant.
New hotel for Monona Terrace would come in second phase of redevelopment project
Encouraged by progress so far, Madison's finance committee on Monday supported more exclusive negotiations with JDS Development and Exact Scie…
