2025-2318File Resolution No. 2025-2318
A resolution approving a TIF Development Agreement with TI Investors of
Janesville Holding Company III LLC for the property located at 4000 S County
Road G and located within Janesville’s Tax Incremental Financing District No. 43
WHEREAS, Sections 66.1105 and 66.1101 of Wisconsin Statutes authorize cities to
utilize tax increment financing 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 Tax Incremental Financing (TIF)
development agreements to facilitate 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. 43 to stimulate industrial
development projects in the City of Janesville; and,
WHEREAS, TI Investors of Janesville Holding Company III LLC and the CoJ have
negotiated a certain TIF Development Agreement which, in major part, calls for the CoJ
to provide the developer the parcel totaling 26.12 acres located at 4000 S County Road
G with an estimated fair market value of Two Million Eleven Thousand Two Hundred Forty
and 00/100 dollars ($2,011,240.00) for $1.00 and a pay-as-you-go incentive of Two
Million Sixty-One Thousand Seven Hundred Fifty-Three and 00/100 Dollars
($2,061,753.00). The total development incentive package will not exceed Four Million
Seventy Two Thousand Nine Hundred Ninety Three and 00/100 Dollars ($4,072,993.00);
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 TI
Investors of Janesville Holding Company III LLC, Inc. 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 TI Investors of
Janesville Holding Company III 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
Resolution No. 2025-2318
Page 2
BE IT FURTHER RESOLVED, that the Common Council hereby authorize the City
Manager and those he designates on his behalf to take whatever additional necessary
and/or desirable actions the City Manager or his designees determine necessary or
appropriate to effectuate the project and the intent of this authorizing resolution.
ADOPTED:
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/City
Attorney
Motion by:
Second by:
Councilmember Aye Nay Pass Absent
Burdick
Cass
Erdman
Miller
Neeno
Squire
Williams
June 9, 2025 Squire
Neeno
X
X
X
X
X
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X
2025-2318
Final Audit Report 2025-06-10
Created:2025-06-10
By:Elizabeth Lopez (lopeze@janesvillewi.gov)
Status:Signed
Transaction ID:CBJCHBCAABAA-ZDa91y1idnZw_kiZ5ATcY2j-jwxPpN5
"2025-2318" History
Document created by Elizabeth Lopez (lopeze@janesvillewi.gov)
2025-06-10 - 7:06:11 PM GMT
Document emailed to Kevin Lahner (lahnerk@janesvillewi.gov) for signature
2025-06-10 - 7:06:15 PM GMT
Email viewed by Kevin Lahner (lahnerk@janesvillewi.gov)
2025-06-10 - 7:22:35 PM GMT
Document e-signed by Kevin Lahner (lahnerk@janesvillewi.gov)
Signature Date: 2025-06-10 - 7:22:44 PM GMT - Time Source: server
Document emailed to Lorena Stottler (stottlerl@janesvillewi.gov) for signature
2025-06-10 - 7:22:45 PM GMT
Email viewed by Lorena Stottler (stottlerl@janesvillewi.gov)
2025-06-10 - 7:33:48 PM GMT
Document e-signed by Lorena Stottler (stottlerl@janesvillewi.gov)
Signature Date: 2025-06-10 - 7:34:16 PM GMT - Time Source: server
Agreement completed.
2025-06-10 - 7:34:16 PM GMT