Edgewater Developer asks city to help complete TIF agreement before 2012

The Edgewater project isn't dead yet. Hammes co. turned in paperwork to complete a TIF agreement with the city of madison. City Attorney say's it's virtually impossible to get paperwork done before 2012. It would also have to be approved by City alderman by a super majority. Which seems highly unlikely since they decide not to fund the project for 2012. However, Mayor Paul Soglin says he will honor the TIF if the council approves the borrowing.

Here is more infoshare

Edgewater Recieves Death Blow From City Council

Mayor Paul Soglin and 10 City Alderman no longer wish to honor the promise of funding the Edgewater project with 16 million in TIF. Instead they voted to offer 3 million in TIF financing. If the project would have been financed this year it would have still qualified for the 16 million, however the project was held up in court by lawsuits. The Hammes Co. says they have qualified for financing but getting TIF finalized this year seems highly unlikely. Bob Dunn, from Hammes Co. said it would likely finalize late 1st quarter early 2nd quarter next year(March or April).

The 10 alderman that voted against the Edgewater project are:
District 1 Lisa Suebeck, D4 Michael Verveer, D5 Shiva Bidar-Sielaff, D6 Marsha Rummel, D10 Brian Solomon, D12 Satya V. Rhodes, D13 Sue Ellingson, D15 Larry Palm, D16 Jill Johnson, and D18 Anita Weier. If any of these alderman represent you, ask them why they don't support jobs? Ask them why they don't support increasing the Tax revenue? Ask them why they don't think Madison needs more quality lodging? Ask them why they would tell future developers and Banks that city of Madison doesn't honor their commitments? Ask them why they are against public space @ edgewater? Ask them how many jobs are they going to create? We must hold them accountable for destroying these jobs and hurting future development in Madison.

Vote on Edgewater Tonite. Tue Nov. 15th City of Madison Council Meeting!

We need you to come and show support for these much needed jobs. This will be a union Job and employ many laborers next year. We need the Liuna Army to show up in their Orange shirts and sign up in support of this project. The meeting starts @ 5:30 @ city council on Martin Lutern King BLVD. (in front of Monona Terrace) and could go all night. We will have plenty of orange shirts if you don't have one yet. Please come. Don't woory about missing supper. We will get you fed.

Edgewater

This project is shovel ready and needs to get built. This project would employ alot of union folks. Without your help this project might not happen. Please help us by contacting city of madison alderman and Mayor Paul Soglin and tell them to build the Edgewater hotel.

Contact them at allalders@cityofmadison.com and psoglin@cityofmadison.com
or show your support by attending City of Madison Coucil Meetings with your Orange Liuna "WE BUILD AMERICA" Shirt.

For more Info on Edgewater

Nick Henke,local 464 Organizer and others talk about importance of project to the community.

http://www.youtube.com/watch?v=rzSLMLRkrVE

* In 10 years the taxes generated from the 16 million dollar TIF will exceed 16 million.

* Without TIF $ this project will most likely won't happen.

more TIF facts available