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City considers land banking strategy for Park Street property

The Madison Finance Committee voted unanimously to increase funding for land-banking capital for the purchase of a property at 1810 S. Park St., according to a Wisconsin State Journal report.

The move would allow the city to preserve the property for future development opportunities in an area where development interest could cause housing affordability challenges.

The decision comes as the city is in the process of updating the South Madison Plan guiding the development of the area for the next 10 to 15 years.

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