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Redevelopment bond closing set; $4.9 million financing will fund amphitheater, park, housing and property acquisitions
Summary
Redevelopment staff said the city expects to close a $4.9 million bond issue in early June to fund four Commission‑prioritized projects: an amphitheater, Welch Park improvements, downtown market‑rate housing and acquisition of hilltop parcels for a new residential subdivision.
Madison redevelopment staff told the Redevelopment Commission that the Commission’s previously authorized financing will move toward closing after the final city approvals, clearing the way to fund four priority projects: an amphitheater, Welch Park upgrades, a downtown market‑rate apartment project and hilltop property acquisition for a residential subdivision.
Staff said the City Council had approved a companion resolution authorizing issuance of $4,900,000 in bonds and that German American Bank will be the purchaser; staff reported the city expects to complete closing in early June…
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