OTHERAPPROVED

City Enters Development Deal With Property Owner

The City of Madison entered into a development agreement including Old Town Investments, LLC as property owner for an Aloft hotel and adjacent mini golf facility. The agreement supports a performance-based incentive structure tied to lodging tax revenue over a five-year period.

Status
APPROVED
Document date
July 29, 2026
Contract type
OTHER
Vendor
Old Town Investments Llc
Agency
City of Madison · AL

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Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo

Scope & details

The full contract record, as filed.

Contract amount
Not to exceed $2,000,000 over a five-year term (incentive paid to developer)
Contract type
OTHER
Contract term
Five-year term linked to development incentive agreement; contingent on hotel and recreation facility opening for business
Renewal
Old Town Investments, LLC is included as property owner in the five-year development agreement that features performance-based incentives; no renewal or extension provisions are specified for the agreement.
Document type
Minutes
Source document
City of Madison Minutes Special Called Meeting 2026-07-29

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the government contract by City of Madison?

Old Town Investments Llc was awarded this government contract by City of Madison, as recorded on July 29, 2026. The contract value is Not to exceed $2,000,000 over a five-year term (incentive paid to developer).

How much is the Old Town Investments Llc contract with City of Madison worth?

The Old Town Investments Llc contract with City of Madison is valued at Not to exceed $2,000,000 over a five-year term (incentive paid to developer).

What type of contract is this?

This is a government contract, documented as a minutes record, structured as a not-to-exceed (ceiling) agreement.

Where was this contract approved?

This contract appears in City of Madison Minutes Special Called Meeting 2026-07-29 (Minutes), dated July 29, 2026 from City of Madison. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Old Town Investments Llc hold?

Old Town Investments Llc may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

View Old Town Investments Llc's profile

What is City of Madison currently buying?

Explore City of Madison's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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