City of Madison AgendaPacket City Council Agenda 2026-06-02
City Proposes Tax Abatement for New Hotel Project
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Description
The Madison Common Council introduced Resolution 2026-4C granting Clifty Madison LLC a six-year real property tax abatement for a new hotel development on Clifty Drive. The preliminary resolution sets a 100 percent deduction in the first year and 50 percent in years two through six, pending final approval after public notice.
Contract Details
Contract Amount
6-year real property tax abatement; estimated taxes saved approx. $665,000 over abatement period
Vendor
CLIFTY MADISON LLC
Agency
City of Madison, IN
Contract Type
OTHER
Document Date
June 2, 2026
Contract Term
Six-year real property tax deduction period with Year 1 at 100% and Years 2–6 at 50%
Renewal Date
2035-12-31
Renewal Info
Tax abatement runs for six years from the first full assessment year after construction; no renewal terms specified.
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