2025-22851
FILE RESOLUTION NO. 2025-2285 A resolution terminating, dissolving, and de-certifying Tax Incremental District No. 26 WHEREAS, the City of Janesville created Tax Incremental District No. 26 on November 24, 2003, and adopted a project plan for the TID in accordance with the provisions of Wisconsin Statues Section 66.1105. The City amended the District and Project Plan on February 12, 2007, and further amended the Project Plan on January 12, 2009, and further amended the Project Plan on July 27, 2009; and WHEREAS, the City Council adopted File Resolution No. 2024-2278 on December 9, 2024, Amended January 27, 2025 extending the life of TID No. 26 for an additional four months for housing purposes; and WHEREAS, Wis. Stats Sec. 66.1105(7) requires the termination and dissolution of created TID’s
upon the expiration of the life of the TID and/or the happening of one or more events enumerated in the applicable Wisconsin statutes; and WHEREAS, TID No. 26 has reached the end of its lawful effectiveness and life; and WHEREAS, all TID No. 26 expenditures and projects were completed in the prescribed allowed
time, and WHEREAS, sufficient positive tax increments on new property value created within the TID have been collected through and including as of the 2024 tax roll, payable 2025, to pay in full all TID No. 26 project costs, and to escrow funds to repay the TID’s remaining outstanding debt, if any, and that then any remaining excess funds from TID No. 26 held by the City of Janesville shall be proportionally distributed to each affected, contributing taxing jurisdiction that paid into the TID during its life, with proportionate shares. NOW THEREFORE BE IT RESOLVED BY THE COMMON COUNCIL OF THE CITY OF JANESVILLE do hereby terminate, dissolve, and de-certify TID No. 26, effective forthwith; and
BE IT FURTHER RESOLVED that the City Clerk-Treasurer shall notify the Wisconsin Department of Revenue, within sixty (60) days of the adoption of this resolution that TID No. 26 has been
terminated and dissolved, in accordance with state law; and BE IT FURTHER RESOLVED, that the City Clerk-Treasurer shall sign the required Wisconsin
Department of Revenue Final Accounting Submission Date form (PE-223) agreeing on a date by which the City of Janesville shall send final audited information to the Wisconsin Department of Revenue; and BE IT FURTHER RESOLVED, that the City Clerk-Treasurer shall distribute any excess increment collected, after providing for ongoing expenses of the TID, to the affected taxing districts that paid into the TID during its life, with proportionate shares to be determined in the final audit by the City’s Finance Director and/or Auditors.
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File Resolution No. 2025-2285 Page 2
ADOPTED: January 27, 2025
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: Williams
Second by: Miller
Councilmember Aye Nay Pass Absent
Burdick x
Jackson x
Marshick x
Miller x
Neeno x
Squire x
Williams x
2025-2285
Final Audit Report 2025-02-02
Created:2025-02-02
By:Lorena Stottler (stottlerl@janesvillewi.gov)
Status:Signed
Transaction ID:CBJCHBCAABAAoXE_BDulDbmLCevbAsrr1XukIwQnux4K
"2025-2285" History
Document created by Lorena Stottler (stottlerl@janesvillewi.gov)
2025-02-02 - 2:09:10 AM GMT
Document emailed to Kevin Lahner (lahnerk@janesvillewi.gov) for signature
2025-02-02 - 2:09:13 AM GMT
Email viewed by Kevin Lahner (lahnerk@janesvillewi.gov)
2025-02-02 - 12:00:44 PM GMT
Document e-signed by Kevin Lahner (lahnerk@janesvillewi.gov)
Signature Date: 2025-02-02 - 12:00:59 PM GMT - Time Source: server
Document emailed to Lorena Stottler (stottlerl@janesvillewi.gov) for signature
2025-02-02 - 12:01:00 PM GMT
Email viewed by Lorena Stottler (stottlerl@janesvillewi.gov)
2025-02-02 - 5:24:35 PM GMT
Document e-signed by Lorena Stottler (stottlerl@janesvillewi.gov)
Signature Date: 2025-02-02 - 5:24:45 PM GMT - Time Source: server
Agreement completed.
2025-02-02 - 5:24:45 PM GMT