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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 during the first year and 50% abatement in years two through six, and to authorize $200,000 in infrastructure spending to support a waterline loop for fire suppression in the area.
Pratik Gupta, who identified himself as the developer with Clifty Madison LLC, described predevelopment work and due diligence the company has completed, including geotechnical and environmental reviews, and said preconstruction activity has already begun. “We have trusted lenders including one that has branches in town,” Gupta said, describing financing progress and his group’s hotel experience.
Steinhardt said the Jefferson County Board of Tourism awarded a $200,000 grant to the city to cover the project’s infrastructure cost, which he said would leave the redevelopment commission with no net infrastructure cost for the project. He described the development as “a $15,000,000, 84-room hotel” in his presentation materials and noted analysis in the packet projecting tax and revenue impacts.
The commission voted by voice to approve the development agreement and to adopt the resolution labeled in the packet as 2026Dash3R to begin the abatement process. Commissioners and staff noted that this RDC action is the first step and that the city council will consider the formal abatement later in the process.
Steinhardt said the development is intended to increase lodging capacity and support tourism, including sports tourism, and the city’s packet included a hotel development analysis prepared by Reedy showing projected revenue impacts. The developer and staff said the project could help attract more tourism and related investment to Madison.
Next steps: the RDC will execute the economic agreement and the abatement resolution moves to the city council for the next step in the statutory abatement process.
