The Madison City Council wisely kept the exciting Edgewater Hotel project alive last week.

That's great news for Downtown and the local economy.

The council voted 17-3 to keep $16 million in the city's capital budget - money that will only be released to the developer if further city review leads to final council approval.

Sixteen million dollars is a lot of money. But it won't be used to pad the developer's pockets. Instead, it would help the developer pay for public amenities that otherwise won't occur:

• A two-tiered public terrace with dramatically improved lake views.

• A grand stairway for easy public access to Lake Mendota.

• More underground public parking.

The city would borrow the $16 million for these improvements. The city would then get exclusive dibs on tax collections from the much greater tax base created by the $93 million hotel redevelopment. The city could expect to get its $16 million back, to pay off its loan, in just five years.

The city shouldn't dawdle with its review of the hotel proposal, which would create hundreds of jobs. The developer's plans are predicated on low construction and borrowing costs related to the weak economy. If those costs significantly increase, they ruin the project's financial viability.

Hammes Co., the developer, deserves a final decision - up or down - by early next year.

Some residents in the Mansion Hill historic district, including Fred Mohs, continue to oppose the Edgewater project despite the developer's dramatic improvements in response to public feedback.

Mohs described his group's concerns to the State Journal editorial board last week. His model of the neighborhood helps show the impact of a taller Edgewater Hotel with better lake views and public access.

We understand some neighbors want to keep Mansion Hill much as it is. Mohs and other good citizens have invested deeply in historic preservation there.

Yet Mansion Hill is such a key part of Downtown that it cannot stay the same forever. In recent decades, two large and modern office buildings have gone up nearby.

The city needs to keep the Edgewater project moving forward. The hotel's revival would boost Madison and its Downtown.

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