Mayor Courtney Gave an Update on 22 Acres Being Purchased by City

The goal of this purchase is to leverage city investments.

File Photo

(Madison, Ind.) - Mayor Courtney gave an update on the former Madison Plaza retail site at last night’s City Council meeting.

The city is still in a negotiation on the purchase agreement, which includes the full 22 acres of the development property at an estimated cost of $2.75 million.

Mayor Courtney said, “I think this will bring much-needed development to that location which has been underutilized.”

The city plans eventually sell off parts of the land to be redeveloped to retail, and multi-family developers. The goal of this purchase is to leverage the cities investment to attract approximately $38 to 40 million in the capital.  

The City of Madison Redevelopment Commission authorized Mayor Bob Courtney to negotiate the conditional agreement on February 12.

More from Local News

Events

Local News

Lane closures planned along U.S. 50 near Aurora

The lane closure will take place between 8am and 4 pm

Lane closures planned along U.S. 421 near Osgood

Lane Closures will occur between 8am and 4 pm

Indiana Optometric Association Offers Eye Health Essentials for the Total Solar Eclipse

Using approved solar eclipse viewers is one of the top tips for safe viewing.

Local Sports

Local Sports for March 25, 2024

Any missing scores or to report a score email news@953wiki.com

Madison Names New Football Head Coach

He has coached in Indiana, Wisconsin and Louisiana