Negotiators for the city and JDS Development have produced basic terms of a complex deal to move ahead with the massive Judge Doyle Square project south of Capitol Square in downtown Madison.
The redevelopment project for the site will include a 250,000-square-foot corporate headquarters for Exact Sciences Corp., and a 210- to 250-room hotel.
Financial terms include a private investment by JDS of at least $130 million, city funding to replace Government East parking of $19.2 million and city capital funding for the bike center of $1 million. The deal also includes city investment of $42.5 million in other elements of the project. That includes a $12 million grant to Exact Sciences to create and retain 400 jobs at the site for at least 12 years, a $20.8 million loan for private parking and a $9.7 million loan for the fair market value of the land acquired for the private development.