The Hammes Co. has scaled back its plan for the Edgewater redevelopment, from $109 million to $90 million. However, they are still asking for the full $16 million in TIF funding that Mayor Dave Cieslewicz included in his capital budget.
"It represents progress," Cieslewicz said.
Really? Going from 15% taxpayer funding to 18% taxpayer funding for a private hotel project that is expected to cannibalize business from other hotels rather than bring more business to Madison is progress?
I'm surprised nobody's tried to sell Mayor Dave a bridge. Maybe it'll be in next year's capital budget.