Gilmore property to house corner store
By Stephanie Johns
Members of the Downtown Development Authority (DDA) shared details about Phase I of the Gilmore property project.
The home, located at 473 Burney St., will stay but the pink structure on the corner of the lot will be removed and a corner store built.
Madison Planning Director Monica Callahan and DDA Chair Shandon Land each shared a picture of a historic corner store, one of which was located beside Harriet Tubman’s home.
Land said that these pictures would serve as models for the design of the new building.
Callahan added that they already have someone interested in running the store and paying rent.
She told the group about the possibility of using Redevelopment Fund monies from the state as one possible funding strategy.
These funds are used to improve areas of “slum and blight,” which Callahan said this property has been deemed.
She would have to submit an Initial Project Assessment (IPA) and a four- to five-page summary of the group’s goals.
If they receive any funds, they would be in the range of $125,000 to $150,000, she said. That money could be used for a variety of project tasks, from demolition, to grading, to tree removal.
Officially, the money would go to the City of Madison and the city would then loan it to the DDA at 2 percent.
Once the DDA repaid the money, it would stay local and not go back to the state or federal government, she said. Rather, it could be used as a revolving loan fund to help existing businesses in downtown Madison.
She added that the Madison City Council would have to agree to accept the money, though.
She said the DDA would know whether or not it should proceed with an official application for this money within 15 days of submitting their IPA.
If the state determines that the DDA should submit an application, the DDA would know whether or not it was approved within 30 to 45 days of submission.
Callahan said the DDA is “very likely” to receive approval.
“(The state) has expressed interest in this project,” she said.
Receiving this money would double the DDA’s budget and benefits the whole community, she added.
As to the timing of the demolition and construction, Callahan later said that if the DDA is successful in securing the state grant they would start work late spring or early summer.
“It would be fall before a tenant could occupy, probably,” she said.
Printed in the February 28, 2013