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Council creates TIF grant and donation funds for Madison Redevelopment Commission
Summary
The council approved Ordinances 2026-11C and 2026-12C to establish a TIF Grant Fund and a TIF Donation Fund for the Madison Redevelopment Commission; city staff said the change is bookkeeping to improve reporting to state systems and to align Reedy Financial records.
Madison City Council approved two ordinances, 2026-11C and 2026-12C, to create separate funds for TIF grants and TIF donations within the Madison Redevelopment Commission.
Councilwoman Carla Grebs (listed on the meeting roll call) sponsored the ordinances and described them as housekeeping measures to separate grant and donation receipts from tax-revenue TIF accounts. A city staff member explained the change will support state reporting requirements through Gateway and the Local Government Financial (VLGF) reporting process and will help Reedy Financial align monthly financial statements.
Council voted to suspend the rules and move both ordinances to second reading in the same meeting, then approved them on second reading by roll call. Members said the change will make internal accounting and external reporting clearer without changing policy on how TIF money is spent.
There was no public comment on the ordinances at the meeting.
