Madison Reporter

With costs rising on almost every front, construction projects in Madison are increasing funding, including for the city’s Village on the Park Mall improvements.

Madison.com reports city officials have now raised funding for the South Side project to $16.2 million, an overall increase of some $5 million.

Top leaders previously stamped their approval on a plan that steers upwards of $11 million from a tax incremental financing, or TIF, to the district for redevelopment activities in the vicinity of the mall, including supporting a plan that paves the way for the creation of the Urban League of Greater Madison’s $25.5 million Black Business Hub now under construction and a $9.1 million parking garage at the mall.

Of the additional $5 million added for the Village of the Mall project, almost half of the rising price tag is related to stormwater issues, which were forecasted by some based on the high water table in the area. The revised project also adds $1.4 million more for a cost overrun for the parking structure, $1 million more to demolish a building at the north end of the mall and create the new parking lot and $200,000 for public art

“It’s not at all unusual for amendments like this to occur,” said Ald. Tag Evers, 13th District, a CDA board member whose district is near the site. “It was anticipated that stormwater costs could go up once we got in the ground due to the high water table. But most of this can be attributed to inflation — rising material and labor costs — which is burdening construction projects all over the city.”

The Community Development Authority purchased the site of the Village nearly two decades ago as part of an overall plan to turn it into a multi-purpose space. In addition to accepting funding for the project, they have also sold off part of it to the city to use for the Urban League and the Madison Public Library.