We need your help! To help convince Mayor Rhodes-Conway and Common Council members that the community is solidly behind the Public Market, a groundswell of support must be shown.
The Public Market Foundation has fulfilled its commitment to raise a significant amount of money for the project, developed a brand and marketing strategy, worked with City staff to complete the design process, and engaged the community to create a strong foundation for a successful Market. The project is shovel-ready!
Despite the progress made to bring our dream to fruition, the proposed Madison Public Market is again in danger!
A sudden and unexpected funding crisis has developed. Recently, the City withdrew its application from a $3.45M Federal Government Economic Development Administration grant opportunity, a vital part of the funding plan. Because of the nearly two-year pandemic-induced delay, anticipated costs of construction subject to inflation may add an estimated $1.8M. The project now has a $5.25M gap in funding.
The Mayor’s 2023 capital budget reauthorizes the current $7M in TID funding, but does not include additional City dollars to fill the $5.25M gap. As the Market is a City project, we must implore the City to immediately fill the funding gap to keep the project moving forward. The $5.25M can come from the E. Washington Corridor TID#36, instead of general borrowing. This TID is spinning off $10M annually for the next five years, meant to be reinvested in city economic develoment projects. The Public Market is a perfect use for these dollars.
Market funding will be discussed by City Alders when the capital budget goes to the Finance Committee in mid-September. This is our chance to have the additional $5.25M amended to the 2023 City capital budget.
Your supportive emails to the Common Council members are crucial, now more than ever. Please ask them to add $5.25M to the 2023 Capital budget. If this doesn’t occur, the Market will face yet another significant delay. Your messages to the Alders should occur prior to the September 12 Finance Committee meeting, and again before they meet to approve the Capital Budget on September 28. Messaging should continue as often as possible until such time that the Common Council votes on the Capital Budget in November.
A quick note to the alders is great! Please clearly say that you are strongly supportive of the Madison Public Market. If you wish to say more, we have provided “talking points” you may wish to use in your communications with the Alders. Write to them at:
To find email addresses of your individual Council Alder: https://www.cityofmadison.com/Council/councilMembers/alders.cfm