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Committee approves TID amendment to fund lighting, small-business assistance in Royster Clark area
Summary
The Finance Committee unanimously approved an amendment to Tax Increment District No. 44 to add $155,000 for lighting along Stone Road and $500,000 for small-business assistance programs; staff estimated district closure in 2026 and projected $100 million incremental value.
The Madison Common Council Finance Committee on March 20 approved an amendment to the project plan for Tax Incremental District No. 44 (Royster Clark) that designates $155,000 for lighting along Stone Road and sets aside $500,000 for small-business assistance.
Dan Rolfes, TIF staff, told the committee the lighting is intended to improve safety and illumination near a nearby tiny-home development and similar areas, and the $500,000 would fund programs such as the city's commercial ownership assistance program, facade grants, building improvement grants and small-cap TIF assistance.
Rolfes also told the committee the district is estimated to close in 2026 after recovering outstanding costs, and that incremental value recovered under the rules is estimated at about $100,000,000 when the district closes. Committee members asked no substantive follow-up questions; the committee recorded a unanimous vote in favor of the amendment (Legistar 86,996).
Votes at a glance: Legistar 86,996 — amendment to project plan for Tax Incremental District No. 44 (Royster Clark) to add lighting and small business assistance — moved by Alder Madison; seconded by Alder Rummel; outcome: approved (unanimous).
