The 2027 city of Madison capital and operating budget approved earlier this week includes an additional $15 million for a south side redevelopment project, according to a report in the Wisconsin State Journal.
The redevelopment project at South Park Street and West Badger Road would add 220 affordable housing units and include a public health facility and a new fire station.
According to Matt Wachter, the city’s planning, community and economic development director, the additional funds were needed due to higher tariff costs and interest rate increases.
Overall, the City Council approved a $478 million operating budget and a $296 million capital budget, including an additional $12 million for the city’s affordable housing fund.
In the aftermath of the fatal police shooting of Corey Ruiz, the spending plan also includes $400,000 for a body-worn camera program for Madison police.
Based on the adopted budget, the city estimates an annual property tax increase of $90 for the average-value home for the city’s portion of 2027 property tax bills.
In a statement released on the city’s website, outgoing Mayor Satya Rhodes-Conway said that in future years, “the state-imposed structural deficit will continue to be a major concern for Wisconsin cities. However, I’m optimistic that the new leadership at the state and federal levels will finally change what has amounted to decades of disinvestment in local governments.”
