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Redevelopment commission approves economic deal and starts tax-abatement process for proposed Hampton Inn
Summary
The Madison Redevelopment Commission approved an economic development agreement with Clifty Madison LLC to bring an 84-room Hampton Inn to Madison and passed a resolution initiating a proposed tax abatement (100% year one, 50% years two–six); the project includes a $200,000 infrastructure ask covered by a Jefferson County Board of Tourism grant, and commissioners said council action will follow.
The Madison City Redevelopment Commission on May 12 voted to approve an economic development agreement with Clifty Madison LLC to build a new Hampton Inn in Madison and passed a resolution to begin a proposed tax-abatement process.
Tony Steinhardt, who presented the proposal to the commission, said the hotel would be approximately four stories and about 84 rooms and that the developer’s commitments include an estimated annual payroll of roughly $650,000 and about 21 new hospitality jobs. Steinhardt asked the commission to approve a tax-abatement structure that would provide a 100% abatement…
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