Madison cuts contribution to Edgewater Hotel

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The city of Madison will drastically cuts its contribution to the Edgewater Hotel expansion project in a move announced Tuesday by Mayor Paul Soglin.

The project will only receive $3.3 million in tax incremental financing as opposed to the $16 million approved by the Common Council earlier this year for the $98 million redevelopment of the downtown hotel.

Brookfield-based Hammes Co. has been stuck on starting the redevelopment after a lawsuit was brought by the Mansion Hill Historic District last summer.

During his capital budget speech Tuesday, Soglin said cutting the city’s contribution was due to reducing the city’s risk in supporting the project.

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The hotel has been embroiled in controversy for more than two years.

Madison agreed to offer a $16 million tax subsidy for the $98 million project, drawing strong opposition from some residents and lawmakers.

The hotel gained final approval in October 2010 after going through a slog of city committees and was the subject of long and heated meetings, including one that lasted until 5 a.m.

— Adam Wise

More on the Edgewater

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• Edgewater project slapped with more than $9.6M in construction liens
• Findorff contests OSHA fine for Edgewater death
• OSHA fines Findorff for Edgewater death (UPDATE)
• OSHA wraps up Edgewater death investigation
• Man killed on Edgewater project leaves legacy in masonry
• Recruitment event to go on despite worker’s death
• Worker dies at Edgewater Hotel site in Madison
• Supreme Court rejects Edgewater lawsuit (UPDATE)
• Residents want Wis. Supreme Court to hear Edgewater redevelopment case