After an all night meeting, Madison’s City Council has approved the $98 million Edgewater Hotel redevelopment project.
Members of the Madison City Council spent the meeting debating a proposed downtown hotel redevelopment, before taking a final vote on the Edgewater redevelopment at 7:40 this morning. The last vote was for $16 million in TIF funding for the historic hotel.
Alderman Jed Sandborn said he was glad with the outcome, even though he wasn’t a big supporter of TIF funds for the project. He says taxpayers shouldn’t be financing the redevelopment. Although he doesn’t think it’s too unusual, based on other projects that have received TIF money.
Proposal to update the hotel on the shore of Madison’s Lake Mendota has faced a great deal of controversy because of it’s location in the historic Mansion Hill neighborhood.
AUDIO: Robin Colbert reports (:53)