The Madison Public Market received an additional $1 million in financing, allowing the project to move forward for a 2025 opening, the Wisconsin State Journal reports. The Dane County Board signed off on the amount following a similar Madison City Council vote earlier this week to borrow $1.6 million to close the project’s budget gap — a threat since September after construction bids were unexpectedly high.
With funding secured, the Madison Public Market Foundation plans to search for an executive director and additional staff to finalize a list of future vendors who will sell produce and other goods in the market. The project, to be housed in the city’s former Fleet Services building at 200 N. First St., will convert the space into a regional destination for local vendors and event space. Early data shows that most of the vendors will be women and people of color, according to the market’s Foundation.
In addition to funding approved by the county board and city council this week, the market will receive $11.5 million in city tax increment financing; $849,000 in city funds; up to $3 million in private donations; $4.25 million from state programs; and another $1.5 million approved by Dane County last year.
