Public market threatened by $5.2 million funding gap
A $5.2 million financing gap will delay construction and possibly derail the Madison Public Market project, according to a Wisconsin State Journal report. The Madison Public Market Foundation was informed by the city that the $3.4 million federal grant application for the project was withdrawn. Failure to secure the grant and rising construction costs give the project a $5.2 million funding gap and will delay construction that was set to begin in November. The city withdrew the federal pandemic relief funding grant because it did not have a plan for covering the inflationary increase, which was required.