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Council approves land-banking purchase of 1814 South Park Street; tenants told leases remain in effect
Summary
The Madison Common Council unanimously approved a substitute to transfer TID funds for the city to purchase 1814 South Park Street for land banking. Tenants, including a small Black woman–owned business, raised concerns about relocation; city staff said leases run through 2026 and the city does not intend to demolish the building before then.
The Madison Common Council on Feb. 11 unanimously approved a substitute amending the Economic Development Division’s 2025 capital budget to transfer funds from Tax Increment District (TID) 51 to the city’s land-banking program and to purchase the property at 1814 South Park Street.
The vote came after three public commenters described the potential impact on existing tenants and asked what support the city would provide. The substitute was moved by Alder Tishler and adopted without recorded objection.
City staff and the development director said the purchase is part of a multi‑year land‑banking strategy for South Madison intended to combine parcels the city already owns to create redevelopment-ready pads for housing, commercial space and park expansion. Director Miklodjewski said the city’s plan is to hold the property, make it ready for redevelopment, and partner with…
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