Let $M$ be a (discrete) monoid acting on a space $X.$ We may take the quotient of $X,$ by this action, $X/M$ that is the coequalizer of the action map $M \times X \to X$ against the projection map. $X$ with its action can also be encoded as a functor $$F_X:M \to Top$$ with $F_X(*)=X,$ and $X/M$ is simply the colimit of this functor. One may also take the homotopy colimit of $F_X$ and call this the homotopy quotient of $X$ by its action, $X//_hM$. (Of course, an internal version of this can be used for non-discrete topological monoids, however the discrete case is what I care about right now) By a theorem of Thomason, we have that the homotopy quotient of the $1$-point space by its trivial $M$-action, $pt//_hM$ i.e. the homotopy colimit of the constant functor $$M \to Top$$ with value $pt,$ is $BM$- the classifying space of $M.$ When $M=G$ is in fact a group, this fact is well known and can be proven by replacing $pt$ with $EG$ with its free principle $G$-action and taking the ordinary quotient to obtain $BG$. Moreover, when $M=G$ is a group, $X//_hG$ can be modelled by a Borel construction.
Question: Is there a model for $X//_hM$ by a Borel construction for monoids? If so, how close to the story for groups is this?
Question: Has the case of homotopy quotients by monoid actions been well studied? (Can someone point to some references if so?) Has, e.g., equivariant cohomology been developed to calculate cohomology of $X//_hM$ in terms of the action $F_X$?