The City of Madison approved a resolution Tuesday to complete the purchase of eight parcels of property on the Madison riverfront for $10,000 less than the landâs appraised value.
The property, located along the north and south side of the 300 block of East Vaughn Drive, is owned and/or formerly operated by Madison Coal & Supply Company. It came available to the city several months ago when the owners contacted the city to gauge interest in buying the site located primarily at the corner of Jefferson Street and Vaughn Drive.
The land, unused by Madison Coal & Supply for several decades, is essentially an empty lot on the north side of Vaughn that has been used as storage by Madison Regatta and green space extending from the south side of Vaughn Drive to the Ohio River.