A $44.6 million TIF request submitted by JDS Development is “too much,” according to City Council President Chris Schmidt, who was quoted in a Wisconsin State Journal report on the Judge Doyle Square project in downtown Madison.
As the city and JDS continue to negotiate details of the $111.2 million project, concerns are being raised about its cost.
Judge Doyle Square would include a new 318-room hotel serving Monona Terrace and add retail space and underground parking on the Madison Municipal Building block in downtown Madison.
The $44.6 million finance gap has further raised the ire of one of the project’s biggest opponents, Ald. David Ahrens, 15th District, who said it suggests the project is flawed because it cannot attract the investment dollars needed from the private market and banks.
The project is still being analyzed and more will be released in coming weeks.
