The City of Madison is pleased to announce that negotiations with the Town Madison developer concerning the infrastructure funding are complete. “We are confident that all of the questions and areas of concern Council considered have been addressed to our satisfaction. Our legal teams are now updating the Town Madison agreement, and our goal will be to release this document to the community no later than Monday, March 5th.” says Mayor Paul Finley. The document will be brought to Council at the March 12th meeting for approval.
The Town Madison Infrastructure Agreement will allow for the completion of the full I-565 interchange, as well as assist with the City’s stadium debt service and also will fund the venue parking lot and perimeter road.
“We are proud of our City team and the long hours they have put in during the past few months to make this happen. Town Madison, anchored by our multi use venue and minor league baseball, is the premiere regional destination spot that will enhance our community and the Tennessee Valley for decades to come.” adds Finley.
Additionally, the City is now able to release the full Lease, License and Management Agreement with Ballcorps LLC to the public, which is still pending approval from the Southern League, MiLB and MLB. The City will continue to address and release information as it comes.