Sunday, October 7, 2012

Eric Hovde Still Taking Government Handouts

One of the many reasons Eric Hovde was unable to buy the nomination to be the Republican candidate for US Senate was because of his hypocritical stance towards government handouts. He would say he was against them, but then turn around with his hand out to get his own government handouts.

You'll be glad to know some things never change.

Hovde Properties, owned by Eric Hovde, is looking for more handouts in Madison:
A Madison developer is seeking $5.2 million in public assistance for a $60.6 million, 14-story high rise near Overture Center with apartments, retail, offices and underground parking.

The project will also include roughly 30,000 square feet of space for Madison Fire Department offices that will be sold to the city as a condominium at the construction cost of $5 million.

Hovde Properties' request for $5.2 million in tax incremental financing (TIF) support does not pertain to the condo to be sold to the city.

"We think it's going to be a great addition," Hovde President Mike Slavish said of the project. "It will be a tremendous complement to State Street businesses as well as the surrounding neighborhood."

The TIF support is needed to support the tall, dense project in an already developed urban location, Slavish said.
Watch for Scott Walker to lean on Madison mayor Paul Soglin to make this happen. After all, it is the Fitzwalkerstanian way.

Just sayin'.


  1. The invisible hand of the market seems to have given Hovde's project a big middle finger. If he can't raise the full cost of the project in the private sector the project shouldn't be built. Isn't that the way the free market is suppose to work?

    And does this mean that Hovde Capital is insolvent? His own brother won't lend him the money?

    TIF districts were supposed to result in increased property taxes paid to the city but instead they have turned into a revolving slush fund for entitled developers. Madison taxpayers are sick of funding socialism for the rich.

    I don't think Walker has an ounce of clout with Soglin as he's already been sticking it to Madison every chance he gets.