2024-22771
FILE RESOLUTION NO. 2024-2277
A resolution extending the life of Tax Incremental Finance District No. 25 for an
additional one year for housing purposes.
WHEREAS, the Janesville Comprehensive Plan, the Community Development Block Grant &
Rock County HOME Consortium Five-Year Consolidated Plan, and City Five-Year Strategic
Plan all include policies and initiatives to promote high-quality and affordable housing for all
members of the community; and
WHEREAS, the City continues to implement policies and programs to further the goals and
objectives of these plans; and
WHEREAS, implementation of these policies and programs requires the allocation of various
forms of revenue to fund these housing programs; and
WHEREAS, the City created Tax Incremental Finance District No. 25 on January 13, 2003; and
WHEREAS, the City has completed implementation of the Project Plan and has received and
reserved adequate funding to pay the remaining debt incurred for implementation of the Project
Plan and project costs; and
WHEREAS, State of Wisconsin Statutes require that a TID be terminated after all project costs
have been paid, except that under Wisconsin Statute Section 66.1105(6)(g), a TID may be
extended for up to one (1) year to utilize such additional year of tax increment to promote
affordable housing and to improve the City’s housing stock; and
WHEREAS, the City adopted Council Policy 100 (Affordable Housing Fund Policy) on July 12th,
2022, and implemented the practice of extending the life of a successful TID for a period of up
to twelve (12) months to capture additional increment for the purposes of developing additional
affordable housing and to improve the existing housing stock in accordance with the applicable
State Statutes; and
WHEREAS, at least seventy five percent (75%) of the final increment must benefit affordable
housing with the remaining portion used to improve existing housing stock;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMON COUNCIL OF THE CITY OF
JANESVILLE, that providing affordable housing and promoting improvement of the City’s
housing stock are each necessary and desirable, and benefit the community by increasing
efforts to provide quality, affordable housing; and
BE IT FURTHER RESOLVED, that funding City of Janesville programs to promote affordable
housing, rehabilitation of existing housing stock, promoting home ownership, and new
construction benefits all residents by providing additional, substantially improved housing for all
community members, and increases overall property values within the community; and
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Resolution No. 2024-2277
Page 2
BE IT FURTHER RESOLVED that tax increment is available in Tax Incremental Finance District
No. 25 to fund existing and/or additional housing programs, and to fund expenditures as
permitted under Wisconsin Statute Section 66.1105(6)(g)3, and that the City of Janesville
hereby extends the life of Tax Incremental Finance District No. 25 for twelve (12) months in
order to utilize the additional year’s increment to fund programs to promote affordable housing
and rehabilitation of existing housing; and
BE IT FURTHER RESOLVED, that the City Manager and his designee(s), on behalf of the City
of Janesville, are hereby jointly and severally further authorized and empowered to negotiate,
draft, review, modify, amend, execute, enter into, file, and/or record additional agreements,
amendments, documents, and letters of understanding concerning this matter; and is further
authorized to take whatever additional other actions that the City Manager may determine, in his
sole discretion, from time to time and at any time, necessary, desirable, and/or beneficial in the
public interest to effectuate the intent of this Resolution.
ADOPTED: December 9, 2024
APPROVED:
Kevin M. Lahner, City Manager
ATTEST:
Lorena Rae Stottler, City Clerk-Treasurer
APPROVED AS TO FORM:
Wald Klimczyk, City Attorney
Proposed by: Economic Development Office
Prepared by: Economic Development Office
Motion by: Neeno
Second by: Squire
Councilmember Aye Nay Pass Absent
Burdick X
Jackson X
Marshick X
Miller X
Neeno X
Squire X
Williams X
2024-2277
Final Audit Report 2024-12-16
Created:2024-12-13
By:Carri Salus (salusc@ci.janesville.wi.us)
Status:Signed
Transaction ID:CBJCHBCAABAAh8HYEFt6B2SdFF52JzbUYqrC8uxE1hwP
"2024-2277" History
Document created by Carri Salus (salusc@ci.janesville.wi.us)
2024-12-13 - 4:25:51 PM GMT
Document emailed to Kevin Lahner (lahnerk@janesvillewi.gov) for signature
2024-12-13 - 4:25:54 PM GMT
Email viewed by Kevin Lahner (lahnerk@janesvillewi.gov)
2024-12-13 - 4:28:00 PM GMT
Document e-signed by Kevin Lahner (lahnerk@janesvillewi.gov)
Signature Date: 2024-12-13 - 4:28:11 PM GMT - Time Source: server
Document emailed to Lorena Stottler (stottlerl@janesvillewi.gov) for signature
2024-12-13 - 4:28:12 PM GMT
Email viewed by Lorena Stottler (stottlerl@janesvillewi.gov)
2024-12-16 - 5:45:41 PM GMT
Document e-signed by Lorena Stottler (stottlerl@janesvillewi.gov)
Signature Date: 2024-12-16 - 5:45:54 PM GMT - Time Source: server
Agreement completed.
2024-12-16 - 5:45:54 PM GMT