2025-2317File Resolution No. 2025-2317
A resolution approving a TIF Development Agreement with Cotta, LLC for the
creation and retention of 40 full-time living wage equivalent jobs for the property
located within Janesville's Tax Incremental Financing District No. 42 and
addressed as 1809 Adel Street
WHEREAS, Sections 66.1105 and 66.1101 of Wisconsin Statutes authorize cities to
utilize Tax Increment Financing (TIF) to promote industry and implement economic
development projects; and
WHEREAS, the Janesville Common Council have authorized the use of Tax Incremental
Districts (TID) for industrial site development and TIF development agreements to
facilitate the manufacturing, industrial, and overall economic benefit of the City of
Janesville (CoJ) when they adopted Council Policy Statement No. 61 (Economic
Development Policy) in 1994 and further modified as Council Policy Statement No. 61A
(Industrial Economic Development Policy) in 2016; and,
WHEREAS, the Common Council of the CoJ created TID No. 42 to eliminate blight and
stimulate industrial development projects in the CoTs South Central; and,
WHEREAS, Cotta, LLC and the CoJ have negotiated a certain TIF Development
Agreement which, in major part, calls for the CoJ to provide a pay-as-you-go incentive
not to exceed One Hundred Eighty -Five Thousand Nine Hundred Twenty and 00/100
Dollars ($185,920.00) as an incentive to attract, train, equip and maintain a diverse and
talented workforce on the property; and
WHEREAS, the Common Council of the CoJ hereby find that the approval of this project,
these incentives, and this particular negotiated TIF Development Agreement with Cotta,
LLC to be in the best interest and of benefit to the CoJ, its citizens, residents, taxpayers,
and the overall community;
NOW, THEREFORE, BE IT RESOLVED, by the Common Council of the City of Janesville
that the Administration's negotiated TIF Development Agreement with Cotta, LLC and the
TIF development incentives described above are hereby approved and authorized,
according to the terms and conditions set forth in the specific TIF Development
Agreement, and
BE IT FURTHER RESOLVED that the Common Council hereby authorizes the City
Manager and those he authorizes on his behalf to take whatever additional reasonably
necessary and/or desirable actions the City Manager determines appropriate to effectuate
the project and the intent of this authorizing resolution.
Resolution No. 2025 — 2317
Page 2
ADOPTED: February 24, 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
and City Attorney
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
Resolution 2025-2317 ES I G N
Final Audit Report 2025-02-25
Created: 2025-02-25
By: Elizabeth Lopez (lopeze@janesvillewi.gov)
Status: Signed
Transaction ID: CBJCHBCAABAAYdAMs8xdmBV9az3MJ4rxVlgbcODaDvrY
"Resolution 2025-2317 ESIGN" History
Document created by Elizabeth Lopez (lopeze@janesvillewi.gov)
2025-02-25 - 7:35:45 PM GMT
Document emailed to Kevin Lahner (lahnerk@janesvillewi.gov) for signature
2025-02-25 - 7:35:48 PM GMT
Email viewed by Kevin Lahner (lahnerk@janesvillewi.gov)
2025-02-25 - 7:37:55 PM GMT
Document e-signed by Kevin Lahner (lahnerk@janesvillewi.gov)
Signature Date: 2025-02-25 - 7:38:20 PM GMT - Time Source: server
Document emailed to Lorena Stottler (stottlerl@janesvillewi.gov) for signature
2025-02-25 - 7:38:22 PM GMT
Email viewed by Lorena Stottler (stottlerl@janesvillewi.gov)
2025-02-25 - 7:39:06 PM GMT
Document e-signed by Lorena Stottler (stottlerl@janesvillewi.gov)
Signature Date: 2025-02-25 - 7:39:17 PM GMT - Time Source: server
Agreement completed.
2025-02-25 - 7:39:17 PM GMT
a Adobe Acrobat Sign