Photo by Richard Hurd
Madison Common Council Passes 2023 Operating and Capital Budgets
The Madison Common Council approved the Mayor’s 2023 Operating and Capital Budgets last night, following two nights of debate that included 24 proposed amendments on topics including a new low-income bus pass program, adding funding to support the Madison Public Market project, adding funding for the Turman Olson Grocery Development project and increasing alder and city employee pay.
Amendments such as the creation of a subsidized low-income bus pass program and funds for the River Food Pantry failed. Approved amendments included $4.5 million for the Madison Public Market; funds for police squad cars and six new officers funded through a grant; added funding to support Associates in Commercial Real Estate, a program that produces and prioritizes developers of color; and increasing the salary for city council members.
Following budget passage, the property tax levy will now be $273,679,349, which is less than the estimated maximum levy of $273,684,358. The amount of maximum General Obligation Borrowing is $288,477,981, which includes the new appropriations authorized by the passage of the amendments.