2025-2342FILE RESOLUTION NO. 2025-2342
RESOLUTION APPROVING AN AMENDMENT TO THE PROJECT PLAN OF
TAX INCREMENTAL DISTRICT NO. 37,
CITY OF JANESVILLE, WISCONSIN
WHEREAS, the City of Janesville (the “City”) has determined that use of Tax Incremental Financing
is required to promote development and redevelopment within the City; and
WHEREAS, Tax Incremental District No. 37 (the “District”) was created by the City on November
28, 2016 as a district in need of rehabilitation or conservation work; and
WHEREAS, the City now desires to amend the Project Plan of the District (the “Amendment”) in
accordance with the provisions of Wisconsin Statutes Section 66.1105 (the "Tax Increment Law"); and
WHEREAS, such Amendment will allow excess revenue to be transferred to Tax Incremental
Districts No. 36 and 42 (collectively, the “Recipient Districts”) as permitted under Wisconsin Statutes
Section 66.1105(6)(f)2.
WHEREAS, an amended Project Plan for the District has been prepared that includes:
a.A statement listing of the kind, number and location of all proposed public works or
improvements within the District, or to the extent provided in Wisconsin Statutes Sections
66.1105(2)(f)1.k. and 66.1105(2)(f)1.n., outside of the District;
b.An economic feasibility study;
c.A detailed list of estimated project costs;
d.A description of the methods of financing all estimated project costs and the time when the
related costs or monetary obligations are to be incurred;
e.A map showing existing uses and conditions of real property in the District;
f.A map showing proposed improvements and uses in the District;
g.Proposed changes of zoning ordinances, master plan, map, building codes and City
ordinances;
h.A list of estimated non-project costs;
i.A statement of the proposed plan for relocation of any persons to be displaced;
j.A statement indicating how the amendment of the District promotes the orderly development
of the City;
k.An opinion of the City Attorney or of an attorney retained by the City advising that the Project
Plan is complete and complies with Wisconsin Statutes Section 66.1105(4)(f).; and
WHEREAS, prior to its publication, a copy of the notice of public hearing was sent to the chief
executive officers of Rock County, the School District of Janesville, and the Blackhawk Technical College
District, and any other entities having the power to levy taxes on property located within the District, in
accordance with the procedures specified in the Tax Increment Law; and
WHEREAS, in accordance with the procedures specified in the Tax Increment Law, the Plan
Commission, on July 21, 2025 held a public hearing concerning the proposed amendment to the Project
Plan of the District, providing interested parties a reasonable opportunity to express their views thereon;
and
WHEREAS, after said public hearing, the Plan Commission adopted the Project Plan, and
recommended to the Common Council that it amend the Project Plan.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of Janesville that:
1.The boundaries of the District named "Tax Incremental District No. 37, City of Janesville"
remain unchanged.
2.That this Amendment is effective as of the date of adoption of this resolution.
3.The Common Council finds and declares that:
(a)The improvement of such area is likely to enhance significantly the value of
substantially all of the other real property in the District.
(b)The City estimates that 100% of the territory within the District will be devoted to retail
business at the end of the District’s maximum expenditure period, pursuant to
Wisconsin Statutes Section 66.1105(5)(b).
(c)Under the amended Project Plan, a total of $8.39 million in excess tax increments will
be transferred to the Recipient Districts.
(d)The District and the Recipient Districts lie within the same overlapping taxing
jurisdictions.
(e)The District has sufficient revenue to pay for all current Project Costs and has
sufficient excess revenue to pay for eligible project costs of each of the Recipient
Districts.
(f)The Recipient Districts are a blighted area district and a district in need of
rehabilitation of conservation which qualifies them as eligible recipients of excess
revenue.
4.The Project Plan for "Tax Incremental District No. 37, City of Janesville" (see Exhibit A), as
amended, is approved, and the City further finds the Project Plan is feasible and in
conformity with the master plan of the City.
ADOPTED:
APPROVED:
Kevin M. Lahner, City Manager
ATTEST:
Lorena Rae Stottler, City Clerk-Treasurer
APPROVED AS TO FORM:
Wald Klimczyk, City Attorney
Proposed by:
Prepared by:
Motion by:
Second by:
Councilmember Aye Nay Pass Absent
Burdick
Cass
Erdman
Miller
Neeno
Squire
Williams
August 11, 2025 Williams
Neeno
X
X
X
X
X
X
X
EXHIBIT A -
PROJECT PLAN
[DISTRIBUTED SEPARATELY]
August 11, 2025
PROJECT PLAN AMENDMENT
City of Janesville, Wisconsin
Tax Incremental District No. 37
North Pontiac Drive
Prepared by:
Ehlers
N19W24400 Riverwood Drive,
Suite 100
Waukesha, WI 53188
BUILDING COMMUNITIES. IT’S WHAT WE DO.
Tax Incremental District No. 37 Project Plan Amendment City of Janesville
Prepared by Ehlers Page | 2
KEY DATES
Organizational Joint Review Board Meeting Held: July 8, 2025
Public Hearing Held: July 21, 2025
Consideration by Plan Commission: July 21, 2025
Consideration by Common Council: August 11, 2025
Consideration by the Joint Review Board: August 27, 2025
TABLE OF CONTENTS
Executive Summary.................................................................................................................................. 3
Map of Current District Boundary ...................................................................................................... 6
Map Showing Existing Uses and Conditions ................................................................................. 10
Equalized Value Test ............................................................................................................................. 10
Statement Listing the Kind, Number and Location of All Proposed Public Works or
Improvements Within the District .................................................................................................... 10
Map Showing Proposed Improvements and Uses ...................................................................... 10
Detailed List of Estimated Project Costs ......................................................................................... 11
Economic Feasibility Study, Description of the Methods of Financing Estimated
Project Costs and the Time When Related Costs or Monetary Obligations are to be
Incurred ........................................................................................................................................................ 13
Annexed Property .................................................................................................................................. 24
Estimate of Property to be Devoted to Retail Business ......................................................... 24
Proposed Changes of Zoning Ordinances, Master Plan, Map, Building Codes and City
Ordinances ................................................................................................................................................ 24
Statement of the Proposed Method for the Relocation of any Persons to be Displaced
........................................................................................................................................................................ 25
How Amendment of the Tax Incremental District Promotes the Orderly Development
of the City ................................................................................................................................................... 25
List of Estimated Non-Project Costs .............................................................................................. 26
Legal Opinion Advising Whether the Plan is Complete and Complies with Wis. Stat. §
66.1105(4)(f) .............................................................................................................................................. 27
Calculation of the Share of Projected Tax Increments Estimated to be Paid by the
Owners of Property in the Overlying Taxing Jurisdictions .................................................... 29
Tax Incremental District No. 37 Project Plan Amendment City of Janesville
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SECTION 1:
Executive Summary
DESCRIPTION OF DISTRICT
Tax Incremental District (“TID”) No. 37 (“District”) is an 18.9 acre “In Need of
Rehabilitation or Conservation” district created on November 28, 2016. The
District was created to support redevelopment in the area by funding
development incentives and traffic improvements.
Purpose of Amendment
The purpose of this amendment, referred to hereafter as the Plan, the
Amendment, or the Plan Amendment, is to allow approximately $2.00 million
in excess revenue to be transferred to Tax Incremental District No. 36 and
approximately $6.39 million in excess revenue to be transferred to Tax
Incremental District No. 42 (collectively, the “Recipient Districts”) as permitted
under Wis. Stat. § 66.1105(6)(f)1. The Plan Amendment meets the following
criteria necessary to allow for the transfer of excess revenue:
1.The District and the Recipient District lie within the same overlapping
taxing jurisdictions.
2.The District is within its expenditure period, which expires on May 23,
2038.
3.The District has enough revenue to pay for all current Project Costs
and has enough excess revenue to pay for eligible project costs of the
Recipient Districts.
4.Tax Incremental District No. 36 is an “In Need of Rehabilitation or
Conservation” district and Tax Incremental District No. 42 is a
“Blighted Area” district. Subsequently, both the Recipient Districts
qualify as eligible recipients of excess revenue.
Estimated Total Project Cost Expenditures
The City anticipated making total expenditures of approximately $3.13 million
in the original project plan which is being revised up to $4.57 million by this
Plan Amendment as further described in Section 7 (“Project Costs”). Such costs
include a total of $3.54 million in Pay As You Go (“PAYGO”) development
incentives, $772 thousand in capital projects, $21 thousand in interest costs, and
$234 thousand in ongoing administrative and financing costs.
With this this Plan Amendment, the City is also including an estimated $8.39
million of increment sharing to the Recipient Districts. The allowance to share
increments with the Recipient Districts will provide additional resources
Tax Incremental District No. 37 Project Plan Amendment City of Janesville
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needed to assist the Recipient Districts in accomplishing the economic
development goals as set forth in their project plans. This promotes the overall
economic development of the City and will benefit the overlapping taxing
jurisdictions.
Incremental Valuation
The City does not project any new land or improvement value being created in
the District by this Amendment and the District’s January 1, 2024 incremental
value of $28.25 million is expected to remain flat. Creation of this value was
made possible by the Project Costs already incurred within the District. A table
detailing assumptions as to the development timing and associated values is
included in the Economic Feasibility Study located within this Plan.
Expected Termination of District
Based on the Economic Feasibility Study located within Section 9 of this Plan,
the City anticipates that the District will generate sufficient tax increment to
pay all Project Costs, inclusive of the donations to the Recipient Districts, within
its allowable 27 years.
Summary of Findings
As required by Wis. Stat. § 66.1105, and as documented in this Plan and the
exhibits contained and referenced herein, the following findings are made:
1.That “but for” the creation of this District, the development that occurred: 1)
would not have occurred at all; or 2) would not have occurred in the manner,
at the values, or within the timeframe desired by the City. In making that
determination, the City considered an analysis of the proposed
redevelopment projects that identified a below market internal rate of return
to the developer without receipt of tax incremental financing (“TIF”)
assistance. The City therefore determined that but for the provision of TIF
assistance the projects would not have been undertaken.
The City has also considered that “but for” this Amendment the current and
projected tax increment collections for the Recipient Districts are expected
to be insufficient to pay for the additional projects that need to be
completed in the Recipient Districts to achieve the objectives of their project
plans.
2.The economic benefits of the District, as measured by increased
employment, business and personal income, and property value, are
sufficient to compensate for the cost of the improvements. In making this
determination, the City has considered that in addition to the incremental
property value that has been created, the City expects the projects to
continue to provide employment opportunities, increased income and sales
Tax Incremental District No. 37 Project Plan Amendment City of Janesville
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tax collection, increased commercial activity and other benefits to the local
economy resulting from the purchase of goods and services related to
operation of the projects.
3. The benefits of the proposal outweigh the anticipated tax increments to be
paid by the owners of property in the overlying taxing jurisdictions. As
required by Wis. Stat. § 66.1105(4)(i)4., a calculation of the share of
projected tax increments estimated to be paid by the owners of property in
the overlying taxing jurisdictions has been prepared and can be found in this
Plan. However, because the projects would not have occurred without the
use of tax incremental financing, these tax increments would not be paid but
for creation of the District. Accordingly, the City finds that the benefits
expected to be realized as set forth in this Plan outweigh the value of the
tax increments to be invested in the projects.
4. The boundaries of the District are not being amended.
5. Improvements to be made in the District are likely to significantly enhance
the value of substantially all of the other real property in the District.
6. The Plan for the District is feasible and is in conformity with the Master Plan
of the City.
7. The City estimates that 100% of the territory within the District will be
devoted to retail business at the end of the District’s maximum expenditure
period, pursuant to Wis. Stat. § 66.1105(5)(b).
Tax Incremental District No. 37 Project Plan Amendment City of Janesville
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SECTION 2:
Map of Current District Boundary
Maps identifying the current boundaries of the District and the Recipient
Districts are found on the following pages. Note the District’s boundaries are
not being amended.
Tax Incremental District No. 37 Project Plan Amendment City of Janesville
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Tax Incremental District No. 37
Tax Incremental District No. 37 Project Plan Amendment City of Janesville
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Tax Incremental District No. 36
Tax Incremental District No. 37 Project Plan Amendment City of Janesville
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Tax Incremental District No. 42
Tax Incremental District No. 37 Project Plan Amendment City of Janesville
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SECTION 3:
Map Showing Existing Uses and Conditions
The District’s boundaries are not being amended. The “Map Showing Existing
Uses and Conditions” included within the District’s original project plan dated
November 28, 2016 remains unchanged and is incorporated by reference as
part of this Plan Amendment.
SECTION 4:
Equalized Value Test
No territory will be added to the District. Demonstration of compliance with the
equalized value test is not required for this Plan Amendment.
SECTION 5:
Statement Listing the Kind, Number and Location of All
Proposed Public Works or Improvements Within the
District
No changes to Project Costs are planned. The “Statement Listing the Kind,
Number and Location of Proposed Public Works and Other Projects” included
in Section 7 of the District’s original project plan dated November 28, 2016
remains unchanged and is incorporated by reference as part of this Plan
Amendment.
SECTION 6:
Map Showing Proposed Improvements and Uses
The District’s boundaries are not being amended. The “Map Showing Proposed
Improvements and Uses” included within the District’s original project plan
dated November 28, 2016 remains unchanged and is incorporated by reference
as part of this Plan Amendment.
Tax Incremental District No. 37 Project Plan Amendment City of Janesville
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SECTION 7:
Detailed List of Estimated Project Costs
No changes to Project Costs are planned. The “Detailed List of Estimated
Project Costs” included in the District’s original project plan dated November
28, 2016 remains unchanged and is summarized below for reference.
This Plan Amendment increases the total Project Costs by $1.16 million up to a
total of $4.51 million based on the actual costs incurred by the District. While
not considered to be a Project Cost, this Plan Amendment provides authority
for the District to transfer excess revenue to the Recipient Districts. Additional
details are included in the table found on the following page.
Project Name/Type Totals
1Development Incentives 1,500,000 1,500,000 598,619 901,381
2 Traffic Improvements1 1,323,775 1,323,775 771,918 551,857
3 Ongoing Planning & Administrative Costs2 68,500 68,500 67,333 1,167
4Interest On Long Term Debt 236,960 236,960 15,636 221,324
Total Projects 3,129,235 3,129,235 1,453,506 1,675,729
Notes:
1) Includes line items 2‐6 in the Original Project Plan.
2) Includes line items 7‐9 in the Original Project Plan.
Original
Plan
Spent
through
12/31/2023 Remaining
Project
ID
Tax Incremental District No. 37 Project Plan Amendment City of Janesville Prepared by Ehlers Page | 12 Remaining FromProject Name/TypePrior Plan1Original Plan True Up New Projects Totals Est. Timing1Development Incentives 901,381 2,041,6582,943,0392020‐20362Traffic Improvements 551,857(551,857)02018‐20233Donations to TID 36 2,000,0002,000,0002025‐20444Donations to TID 42 6,387,8806,387,8802025‐20455 Interest on Long Term Debt 221,324(215,699)5,6252018‐20286Ongoing Planning & Administrative Costs 1,167 166,583167,7502017‐2045Total Projects1,675,729 1,440,685 8,387,880 11,504,294Notes: Cost of Plan Amendment:9,828,5651) As of the 2023 audited financials.Project Cost Increase:1,440,685Est. CostProject ID
Tax Incremental District No. 37 Project Plan Amendment City of Janesville
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SECTION 8:
Economic Feasibility Study, Description of the Methods
of Financing Estimated Project Costs and the Time When
Related Costs or Monetary Obligations are to be Incurred
This Section includes an updated forecast of the valuation increases expected
within the District, the associated tax increment collections, and a projected
cash flow demonstrating that the District remains economically feasible.
Key Assumptions
Project Costs the City previously made created $28.25 million in incremental
value as of January 1, 2024 as further described in Table 1. Assuming the City’s
current equalized TID Interim tax rate of $17.73 per thousand of equalized value,
and no economic appreciation or depreciation, the projects would generate
$12.44 million in incremental tax revenue over the 27-year term of the District
as shown in Table 2.
Tax Incremental District No. 37 Project Plan Amendment City of Janesville
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Table 1 – Development Assumptions
Actual Annual Total
1 2017 2,154,700 2,154,700 2017 1
2 2018 10,709,000 10,709,000 2018 2
3 2019 5,743,500 5,743,500 2019 3
4 2020 555,200 555,200 2020 4
5 2021 3,744,800 3,744,800 2021 5
6 2022 (4,764,500)(4,764,500)2022 6
7 2023 10,109,400 10,109,400 2023 7
8 2024 0 2024 8
9 2025 0 2025 9
10 2026 0 2026 10
11 2027 0 2027 11
12 2028 0 2028 12
13 2029 0 2029 13
14 2030 0 2030 14
15 2031 0 2031 15
16 2032 0 2032 16
17 2033 0 2033 17
18 2034 0 2034 18
19 2035 0 2035 19
20 2036 0 2036 20
21 2037 0 2037 21
22 2038 0 2038 22
23 2039 0 2039 23
24 2040 0 2040 24
25 2041 0 2041 25
26 2042 0 2042 26
27 2043 0 2043 27
Totals 28,252,100 28,252,100
Notes:
Construction Year Construction Year
Tax Incremental District No. 37 Project Plan Amendment City of Janesville
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Table 2 – Tax Increment Projection Worksheet
Type of District Base Value 6,980,700
District Creation Date Economic Change Factor 0.00%
Valuation Date Jan 1, 2017 Apply to Base Value
Max Life (Years) Base Tax Rate $23.62
End of Expenditure Period 22 11/28/2038 Rate Adjustment Factor 0.00%
Revenue Periods/Final Year 27 2045
Extension Eligibility/Years Yes 3
Eligible Recipient District
Construction
Year Value Added
Valuation
Year
Economic
Change
Total
Increment
Revenue
Year Tax Rate1
Tax
Increment
1 2017 2,154,700 2018 2,154,700 2019 $23.62 50,892
2 2018 10,709,000 2019 12,863,700 2020 $22.85 293,921
3 2019 5,743,500 2020 18,607,200 2021 $22.42 417,180
4 2020 555,200 2021 19,162,400 2022 $21.91 419,806
5 2021 3,744,800 2022 22,907,200 2023 $18.59 425,887
6 2022 ‐4,764,500 2023 18,142,700 2024 $17.37 315,124
7 2023 10,109,400 2024 28,252,100 2025 $17.73 500,948
8 2024 0 2025 0 28,252,100 2026 $17.73 500,948
9 2025 0 2026 0 28,252,100 2027 $17.73 500,948
10 2026 0 2027 0 28,252,100 2028 $17.73 500,948
11 2027 0 2028 0 28,252,100 2029 $17.73 500,948
12 2028 0 2029 0 28,252,100 2030 $17.73 500,948
13 2029 0 2030 0 28,252,100 2031 $17.73 500,948
14 2030 0 2031 0 28,252,100 2032 $17.73 500,948
15 2031 0 2032 0 28,252,100 2033 $17.73 500,948
16 2032 0 2033 0 28,252,100 2034 $17.73 500,948
17 2033 0 2034 0 28,252,100 2035 $17.73 500,948
18 2034 0 2035 0 28,252,100 2036 $17.73 500,948
19 2035 0 2036 0 28,252,100 2037 $17.73 500,948
20 2036 0 2037 0 28,252,100 2038 $17.73 500,948
21 2037 0 2038 0 28,252,100 2039 $17.73 500,948
22 2038 0 2039 0 28,252,100 2040 $17.73 500,948
23 2039 0 2040 0 28,252,100 2041 $17.73 500,948
24 2040 0 2041 0 28,252,100 2042 $17.73 500,948
25 2041 0 2042 0 28,252,100 2043 $17.73 500,948
26 2042 0 2043 0 28,252,100 2044 $17.73 500,948
27 2043 0 2044 0 28,252,100 2045 $17.73 500,948
Totals 28,252,100 0 Future Value of Increment 12,442,723
Notes:
1) Tax rates shown through the 2025 revenue year are actual per DOR Form PC‐202 (Tax Increment Collection
Worksheet).
Yes
Rehabilitation
November 28, 2016
27
Tax Incremental District No. 37 Project Plan Amendment City of Janesville Prepared by Ehlers Page | 16 Table 3.1 – Cash Flow For Donor TID Before Sharing MRO #1 MRO #22017 2022Pontiac Place Hotel2Pontiac Place Hotel 23YearPrincipal Interest $2,011,000 $1,897,749Year2017039,76439,764(39,764) (39,764)2,011,000 20172018 136,000136,0001,242 143,446 631 2,619147,938(11,938) (51,702)2,147,000 20182019 50,89250,8921,554 37,600 3,69442,8488,044(43,658)2,147,000 20192020 293,921 222294,14316,000 3,990 95,207 64,308 3,338182,843111,300 67,642 2,035,793 20202021 417,180 109417,28915,000 3,450 164,239 176,567 3,173362,42954,860 122,502 1,856,554 20212022 419,806 2,631 10,000432,43715,000 2,925 169,879 174,419 8,052370,27562,162 184,664 3,569,424 20222023 425,887 12,289438,17615,000 2,475 169,294 175,578 6,062368,40969,767 254,431 3,385,130 20232024 315,124315,12415,000 2,025 130,872 5,000152,897162,227 416,658 3,239,257 20242025 500,948 23,325524,27315,000 1,575 142,313 139,472 5,250303,610220,663 637,321 2,942,472 20252026 500,948 23,325524,27315,000 1,125 142,313 139,472 5,500303,410220,863 858,185 2,645,687 20262027 500,948 23,325524,27315,000 675 142,313 139,472 5,750303,210221,063 1,079,248 2,348,902 20272028 500,948 23,325524,27315,000 225 142,313 139,472 6,000303,010221,263 1,300,511 2,052,117 20282029 500,948 23,325524,273142,313 139,472 6,250288,035236,238 1,536,749 1,770,333 20292030 500,948 23,325524,273142,313 139,472 6,500288,285 235,988 1,772,738 1,488,54820302031 500,948 23,325524,273142,313 139,472 6,750288,535235,738 2,008,476 1,206,763 20312032 500,948 23,325524,273142,313 139,472 7,000288,785235,488 2,243,964 924,978 20322033 500,948 23,325524,273139,472 7,250146,722377,552 2,621,516 642,504 20332034 500,948 23,325524,273139,472 7,500146,972377,302 2,998,818 503,032 20342035 500,948 23,325524,273139,472 7,750147,222377,052 3,375,869 363,560 20352036 500,948 23,325524,273139,472 8,000147,472376,802 3,752,671 224,088 20362037 500,948 23,325524,2738,2508,250516,023 4,268,694 0 20372038 500,948 23,325524,2738,5008,500515,773 4,784,467 20382039 500,948 23,325524,2738,7508,750515,523 5,299,990 20392040 500,948 23,325524,2739,0009,000515,273 5,815,264 20402041 500,948 23,325524,2739,2509,250515,023 6,330,287 20412042 500,948 23,325524,2739,5009,500514,773 6,845,060 20422043 500,948 23,325524,2739,7509,750514,523 7,359,584 20432044 500,948 23,325524,27310,00010,000514,273 7,873,857 20442045 500,948 23,325524,27310,25010,250514,023 8,387,880 2045Totals (2017 ‐ 2045)12,442,723 15,251 489,826 136,000 10,000 13,093,800 136,000 21,261 1,867,998 1,673,661 771,918 631 234,452 4,705,920Totals (2023 ‐ 2045)Notes:1) Revenues and expenses through 2023 per City audited financial statements.LEGEND:CALLABLE MATURITIESEND OF EXP. PERIOD3) Estimated based on the incremental value of parcel 0217400030. The developer receives a 90% PAYGO incentive with the final payment to be made when total reimbursements of $1,897,749.01 have been made or in 2036, whichever is earliest.Existing Debt ServicePROJECTED CLOSURE YEAR2) Estimated based on the incremental value of parcel 0217400244. The developer receives a 95% PAYGO incentive with the final payment to be made when total reimbursements of $2,011,000 have been made or in 2032, whichever is earliest.Liabilities OutstandingTotal RevenuesCapital ProjectsOngoing Planning & AdministrationTotal ExpendituresAnnual CumulativeProjected Revenues1Projected Expenditures1BalancesTax IncrementsInterest EarningsIntergov. RevenuesDebt ProceedsOther RevenueFinancing Costs
Tax Incremental District No. 37 Project Plan Amendment City of Janesville Prepared by Ehlers Page | 17 Table 3.2 – Cash Flow For Donor TID With Sharing MRO #1 MRO #22017 2022Pontiac Place Hotel2Pontiac Place Hotel 23YearPrincipal Interest $2,011,000 $1,897,749Year2017039,76439,764(39,764) (39,764)2,011,000 20172018 136,000136,0001,242 143,446 631 2,619147,938(11,938) (51,702)2,147,000 20182019 50,89250,8921,554 37,600 3,69442,8488,044(43,658)2,147,000 20192020 293,921 222294,14316,000 3,990 95,207 64,308 3,338182,843111,300 67,642 2,035,793 20202021 417,180 109417,28915,000 3,450 164,239 176,567 3,173362,42954,860 122,502 1,856,554 20212022 419,806 2,631 10,000432,43715,000 2,925 169,879 174,419 8,052370,27562,162 184,664 3,569,424 20222023 425,887 12,289438,17615,000 2,475 169,294 175,578 6,062368,40969,767 254,431 3,385,130 20232024 315,124315,12415,000 2,025 130,8725,000152,897162,227 416,658 3,239,257 20242025 500,948 23,325524,27315,000 1,575 142,313 139,472 159,330 477,991 5,250940,931(416,658)0 10,693,031 20252026 500,948 23,325524,27315,000 1,125 142,313 139,472 55,216 165,647 5,500524,2730 0 10,175,383 20262027 500,948 23,325524,27315,000 675 142,313 139,472 55,266 165,797 5,750524,2730 0 9,657,535 20272028 500,948 23,325524,27315,000 225 142,313 139,472 55,316 165,947 6,000524,2730 0 9,139,486 20282029 500,948 23,325524,273142,313 139,472 59,060 177,179 6,250524,2730 0 8,621,463 20292030 500,948 23,325524,273142,313 139,472 58,997 176,991 6,500524,2730 0 8,103,690 20302031 500,948 23,325524,273142,313 139,472 58,935 176,804 6,750524,2730 0 7,586,167 20312032 500,948 23,325524,273142,313 139,472 58,872 176,616 7,000524,2730 0 7,068,893 20322033 500,948 23,325524,273139,472 94,388 283,164 7,250524,2730 0 6,408,868 20332034 500,948 23,325524,273139,472 94,325 282,976 7,500524,2730 0 5,892,094 20342035 500,948 23,325524,273139,472 94,263 282,789 7,750524,2730 0 5,375,571 20352036 500,948 23,325524,273139,472 94,200 282,601 8,000524,2730 0 4,859,298 20362037 500,948 23,325524,273129,006 387,017 8,250524,2730 0 4,119,186 20372038 500,948 23,325524,273128,943 386,830 8,500524,2730 0 3,603,413 20382039 500,948 23,325524,273128,881 386,642 8,750524,2730 0 3,087,890 20392040 500,948 23,325524,273128,818 386,455 9,000524,2730 0 2,572,616 20402041 500,948 23,325524,273128,756 386,267 9,250524,2730 0 2,057,593 20412042 500,948 23,325524,273128,693 386,080 9,500524,2730 0 1,542,820 20422043 500,948 23,325524,273128,631 385,892 9,750524,2730 0 1,028,297 20432044 500,948 23,325524,273160,104 354,169 10,000524,2730 0 514,023 20442045 500,948 23,325524,273514,023 10,250524,273 0 0 02045Totals (2017 ‐ 2045)12,442,723 15,251 489,826 136,000 10,000 13,093,800 136,000 21,261 1,867,998 1,673,661 771,918 2,000,000 6,387,880 631 234,452 13,093,800Totals (2023 ‐ 2045)Notes:1) Revenues and expenses through 2023 per City audited financial statements.LEGEND:3) Estimated based on the incremental value of parcel 0217400030. The developer receives a 90% PAYGO incentive with the final payment to be made when total reimbursements of $1,897,749.01 have been made or in 2036, whichever is earliest.CALLABLE MATURITIES4) Assumes 25% of the available tax increment is shared with TID 36 up to $2.00 million.END OF EXP. PERIOD4) Assumes 75% of the available tax increment is shared with TID 42.2) Estimated based on the incremental value of parcel 0217400244. The developer receives a 95% PAYGO incentive with the final payment to be made when total reimbursements of $2,011,000 have been made or in 2032, whichever is earliest.Total ExpendituresAnnual CumulativePROJECTED CLOSURE YEARExisting Debt ServiceDonations to TID 425Capital ProjectsDonations to TID 364Liabilities OutstandingOngoing Planning & AdministrationIntergov. RevenuesOther RevenueInterest EarningsTax IncrementsDebt ProceedsProjected Expenditures1Financing CostsProjected Revenues1Total RevenuesBalances
Tax Incremental District No. 37 Project Plan Amendment City of Janesville Prepared by Ehlers Page | 18 Table 4.1 – Cash Flow For Tax Incremental District No. 36 Before Sharing Year2023 839,445 17,013 36,801 1,090,000 2,400,000 200,000 9,764 8,8964,601,9192024 857,770 36,801 2,700,000 41,5313,636,1022025 1,287,988 138,126 3,300,000 21,4594,747,5742026 1,320,690 138,126 21,4591,480,2752027 1,320,690 138,126 21,4591,480,2752028 1,343,177 138,126 21,4591,502,7622029 1,343,177 138,126 21,4591,502,7622030 1,343,177 138,126 21,4591,502,7622031 1,343,177 138,126 21,4591,502,7622032 1,343,177 138,126 21,4591,502,7622033 1,343,177 138,126 01,481,3032034 1,343,177 138,1261,481,3032035 1,343,177 138,1261,481,3032036 1,343,177 138,1261,481,3032037 1,343,177 138,1261,481,3032038 1,343,177 138,1261,481,3032039 1,343,177 138,1261,481,3032040 1,343,177 138,1261,481,3032041 1,343,177 138,1261,481,3032042 1,343,177 138,1261,481,3032043 1,343,177 138,1261,481,3032044 1,343,177 138,1261,481,303Totals (2023 ‐ 2044)28,460,593 17,013 2,836,118 1,090,000 8,400,000 200,000 9,764 222,102 41,235,591Notes:1) Revenues and expenses for 2023 per City audited financial statements.LEGEND:CALLABLE MATURITIESEND OF EXP. PERIOD2) 2024 and future years based on the Janesville Hotel Group, LLC development agreement dated November 30, 2017 and Duckworth Revocable Trust development agreement dated January 11, 2022.Total RevenuesProjected Revenues1Tax IncrementsInterest EarningsIntergov. Revenues Debt ProceedsTransfers from TID 32Transfers from TID 33 Misc RevenueDeveloper Shortfalls2
Tax Incremental District No. 37 Project Plan Amendment City of Janesville Prepared by Ehlers Page | 19 MRO #1 MRO #2 MRO #3 MRO #4 MRO #5 MRO #6 MRO #7 MRO #82022 2025 2021 2020 2023 2021 2021 2020BDT LLC1Fredendall LLC2Genisa, LLC3Grafft ILIT4Backyard Prop.5Monterey Apt. II6Murton LLC7River Flats Apt.8Principal Interest $164,947 $375,305 $258,134 $102,500 $750,000 $1,770,000 $120,255 $1,905,500Year965,000 185,250 9,121 6,127 3,137 117,991 261,539 10,270 18,2681,576,7033,025,216 3,189,169 30,425,208 2023980,000 204,966 7,502 6,087 78,124 5,579 133,847 10,0001,426,1062,209,996 5,399,165 29,214,068 20241,005,000 177,088 6,160 7,483 6,056 103,759 5,592 134,174 10,2501,455,5603,292,013 8,691,179 28,321,150 20251,095,000 182,154 6,160 7,483 6,056 36,155 103,759 5,592 134,174 10,5001,587,032(106,756)8,584,422 26,926,773 20261,125,000 142,475 6,160 7,483 6,056 36,155 103,759 5,592 134,174 10,7501,577,602(97,327)8,487,095 25,502,395 20271,150,000 110,650 6,160 20,238 7,483 6,056 36,155 103,759 5,592 134,174 11,0001,591,266(88,503)8,398,592 24,032,780 20281,170,000 82,550 6,160 20,238 7,483 6,056 36,155 103,759 5,592 134,174 11,2501,583,416(80,653)8,317,938 22,543,164 20291,190,000 60,650 6,160 20,238 7,483 6,056 36,155 103,759 5,592 134,174 11,5001,581,766(79,003)8,238,935 21,033,548 2030400,000 44,450 6,160 20,238 7,483 6,056 36,155 103,759 5,592 134,174 726,947 11,7501,502,7620 8,238,935 19,586,986 2031405,000 29,500 6,160 20,238 7,483 6,056 36,155 103,759 5,592 134,174 736,647 12,0001,502,7620 8,238,935 18,125,724 2032415,000 13,100 6,160 20,238 7,483 6,056 36,155 103,759 5,592 134,174 721,337 12,2501,481,3030 8,238,935 16,669,771 203360,000 3,600 6,160 20,238 7,483 6,056 36,155 103,759 5,592 134,174 1,085,587 12,5001,481,3030 8,238,935 15,204,568 203460,000 1,200 6,160 20,238 7,483 6,056 36,155 103,759 5,592 134,174 1,087,737 12,7501,481,3030 8,238,935 13,737,215 20350 0 6,160 20,238 7,483 6,056 36,155 103,759 5,592 67,285 1,215,576 13,0001,481,3030 8,238,935 12,251,749 20366,160 20,238 7,483 36,155 103,759 5,592 1,288,667 13,2501,481,3030 8,238,935 10,600,615 20376,160 20,238 36,155 103,759 1,301,491 13,5001,481,3030 8,238,935 9,132,812 20386,160 20,238 36,155 103,759 1,301,241 13,7501,481,30308,238,935 7,592,711203920,238 36,155 103,759 1,307,151 14,0001,481,3030 8,238,935 5,917,728 204020,238 31,735 1,415,079 14,2501,481,3030 8,238,935 4,450,675 204120,2381,446,565 14,5001,481,3030 8,238,935 2,912,141 20421,466,553 14,7501,481,3030 8,238,935 1,445,588 20431,445,588 15,0001,460,58820,715 8,259,650 0 204410,020,000 1,237,633 92,398 303,573 113,899 84,883 542,320 1,770,000 81,409 1,795,036 16,807,704 0 10,270 280,768 33,139,894Totals (2023 ‐ 2044)Notes:1) Estimated based on the incremental value of parcel 0136200346. The developer receives a 90% PAYGO incentive with the final payment to be made when total reimbursements of $164,947 have been made or in 2039, whichever is earliest.2) Estimated based on the incremental value of parcel 0136200335. The developer receives a 90% PAYGO incentive with the final payment to be made when total reimbursements of $375,305 have been made or in 2042, whichever is earliest.3) Estimated based on the incremental value of parcel 0136100318. The developer receives a 90% PAYGO incentive with the final payment to be made when total reimbursements of $258,134.42 have been made or in 2037, whichever is earliest.4) Estimated based on the incremental value of parcel 0136100048. The developer receives a 95% PAYGO incentive with the final payment to be made when total reimbursements of $102,500.25 have been made or in 2036, whichever is earliest.5) Estimated based on the incremental value of parcel 0125400197. The developer receives a 90% PAYGO incentive with the final payment to be made when total reimbursements of $750,000 have been made or in 2040, whichever is earliest.6) Estimated based on the incremental value of parcel 0136100324. The developer receives a 90% PAYGO incentive with the final payment to be made when total reimbursements of $1,770,000 have been made or in 2042, whichever is earliest.7) Estimated based on the incremental value of parcel 0136100051. The developer receives a 90% PAYGO incentive with the final payment to be made when total reimbursements of $120,255 have been made or in 2037, whichever is earliest.8) Estimated based on the incremental value of parcel 0136100051. The developer receives a 95% PAYGO incentive with the final payment to be made when total reimbursements of $1,905,500 have been made or in 2041, whichever is earliest.9) The City anticipates an additional $16,546,165 of future capital projects within the district.LEGEND:CALLABLE MATURITIESEND OF EXP. PERIODLiabilities OutstandingPROJECTED CLOSURE YEARCapital Projects9Future ProjectsFinancing CostsOngoing Planning & AdministrationTotal ExpendituresAnnual CumulativeProjected Expenditures1BalancesExisting Debt Service
Tax Incremental District No. 37 Project Plan Amendment City of Janesville Prepared by Ehlers Page | 20 Table 4.2 – Cash Flow For Tax Incremental District No. 36 With Sharing Year2023 839,445 17,013 36,801 1,090,000 2,400,000 200,000 9,764 8,8964,601,9192024 857,770 36,801 2,700,000 41,5313,636,1022025 1,287,988 138,126 3,300,000 159,330 21,4594,906,9042026 1,320,690 138,126 55,216 21,4591,535,4912027 1,320,690 138,126 55,266 21,4591,535,5412028 1,343,177 138,126 55,316 21,4591,558,0782029 1,343,177 138,126 59,060 21,4591,561,8222030 1,343,177 138,126 58,997 21,4591,561,7592031 1,343,177 138,126 58,935 21,4591,561,6972032 1,343,177 138,126 58,872 21,4591,561,6342033 1,343,177 138,126 94,388 01,575,6912034 1,343,177 138,126 94,3251,575,6282035 1,343,177 138,126 94,2631,575,5662036 1,343,177 138,126 94,2001,575,5032037 1,343,177 138,126 129,0061,610,3092038 1,343,177 138,126 128,9431,610,2462039 1,343,177 138,126 128,8811,610,1842040 1,343,177 138,126 128,8181,610,1212041 1,343,177 138,126 128,7561,610,0592042 1,343,177 138,126 128,6931,609,9962043 1,343,177 138,126 128,6311,609,9342044 1,343,177 138,126 160,1041,641,407Totals (2023 ‐ 2044)28,460,593 17,013 2,836,118 1,090,000 8,400,000 200,000 2,000,000 9,764 222,102 43,235,591Notes:1) Revenues and expenses for 2023 per City audited financial statements.LEGEND:CALLABLE MATURITIESEND OF EXP. PERIODTransfers from TID 37Developer Shortfalls2Total RevenuesInterest EarningsTax Increments Debt ProceedsProjected Revenues1Intergov. RevenuesTransfers from TID 32 Misc RevenueTransfers from TID 332) 2024 and future years based on the Janesville Hotel Group, LLC development agreement dated November 30, 2017 and Duckworth Revocable Trust development agreement dated January 11, 2022.
Tax Incremental District No. 37 Project Plan Amendment City of Janesville Prepared by Ehlers Page | 21 MRO #1 MRO #2 MRO #3 MRO #4 MRO #5 MRO #6 MRO #7 MRO #82022 2025 2021 2020 2023 2021 2021 2020BDT LLC1Fredendall LLC2Genisa, LLC3Grafft ILIT4Backyard Prop.5Monterey Apt. II6Murton LLC7River Flats Apt.8Principal Interest $164,947 $375,305 $258,134 $102,500 $750,000 $1,770,000 $120,255 $1,905,500Year965,000 185,250 9,121 6,127 3,137 117,991 261,539 10,270 18,2681,576,7033,025,216 3,189,169 30,425,208 2023980,000 204,966 7,502 6,087 78,124 5,579 133,847 10,0001,426,1062,209,996 5,399,165 29,214,068 20241,005,000 177,088 6,160 7,483 6,056 103,759 5,592 134,174 159,330 10,2501,614,8913,292,013 8,691,179 30,161,820 20251,095,000 182,154 6,160 7,483 6,056 36,155 103,759 5,592 134,174 55,216 10,5001,642,247(106,756)8,584,422 28,712,227 20261,125,000 142,475 6,160 7,483 6,056 36,155 103,759 5,592 134,174 55,266 10,7501,632,868(97,327)8,487,095 27,232,584 20271,150,000 110,650 6,160 20,238 7,483 6,056 36,155 103,759 5,592 134,174 55,316 11,0001,646,582(88,503)8,398,592 25,707,652 20281,170,000 82,550 6,160 20,238 7,483 6,056 36,155 103,759 5,592 134,174 59,060 11,2501,642,475(80,653)8,317,938 24,158,977 20291,190,000 60,650 6,160 20,238 7,483 6,056 36,155 103,759 5,592 134,174 58,997 11,5001,640,763(79,003)8,238,935 22,590,364 2030400,000 44,450 6,160 20,238 7,483 6,056 36,155 103,759 5,592 134,174 726,947 58,935 11,7501,561,6970 8,238,935 21,084,867 2031405,000 29,500 6,160 20,238 7,483 6,056 36,155 103,759 5,592 134,174 736,647 58,872 12,0001,561,6340 8,238,935 19,564,733 2032415,000 13,100 6,160 20,238 7,483 6,056 36,155 103,759 5,592 134,174 721,337 94,388 12,2501,575,6910 8,238,935 18,014,392 203360,000 3,600 6,160 20,238 7,483 6,056 36,155 103,759 5,592 134,174 1,085,587 94,325 12,5001,575,6280 8,238,935 16,454,864 203460,000 1,200 6,160 20,238 7,483 6,056 36,155 103,759 5,592 134,174 1,087,737 94,263 12,7501,575,5660 8,238,935 14,893,248 20350 0 6,160 20,238 7,483 6,056 36,155 103,759 5,592 67,285 1,215,576 94,200 13,0001,575,5030 8,238,935 13,313,581 20366,160 20,238 7,483 36,155 103,759 5,592 1,288,667 129,006 13,2501,610,3090 8,238,935 11,533,442 20376,160 20,238 36,155 103,759 1,301,491 128,943 13,5001,610,2460 8,238,935 9,936,696 20386,160 20,238 36,155 103,759 1,301,241 128,881 13,7501,610,1840 8,238,935 8,267,713 203920,238 36,155 103,759 1,307,151 128,818 14,0001,610,12108,238,935 6,463,912204020,238 31,735 1,415,079 128,756 14,2501,610,0590 8,238,935 4,868,103 204120,2381,446,565 128,693 14,5001,609,9960 8,238,935 3,200,876 20421,466,553 128,631 14,7501,609,9340 8,238,935 1,605,692 20431,445,588 160,104 15,0001,620,69220,715 8,259,650 0 204410,020,000 1,237,633 92,398 303,573 113,899 84,883 542,320 1,770,000 81,409 1,795,036 16,807,704 2,000,000 10,270 280,768 35,139,894Totals (2023 ‐ 2044)Notes:1) Estimated based on the incremental value of parcel 0136200346. The developer receives a 90% PAYGO incentive with the final payment to be made when total reimbursements of $164,947 have been made or in 2039, whichever is earliest.2) Estimated based on the incremental value of parcel 0136200335. The developer receives a 90% PAYGO incentive with the final payment to be made when total reimbursements of $375,305 have been made or in 2042, whichever is earliest.3) Estimated based on the incremental value of parcel 0136100318. The developer receives a 90% PAYGO incentive with the final payment to be made when total reimbursements of $258,134.42 have been made or in 2037, whichever is earliest.4) Estimated based on the incremental value of parcel 0136100048. The developer receives a 95% PAYGO incentive with the final payment to be made when total reimbursements of $102,500.25 have been made or in 2036, whichever is earliest.5) Estimated based on the incremental value of parcel 0125400197. The developer receives a 90% PAYGO incentive with the final payment to be made when total reimbursements of $750,000 have been made or in 2040, whichever is earliest.6) Estimated based on the incremental value of parcel 0136100324. The developer receives a 90% PAYGO incentive with the final payment to be made when total reimbursements of $1,770,000 have been made or in 2042, whichever is earliest.7) Estimated based on the incremental value of parcel 0136100051. The developer receives a 90% PAYGO incentive with the final payment to be made when total reimbursements of $120,255 have been made or in 2037, whichever is earliest.8) Estimated based on the incremental value of parcel 0136100051. The developer receives a 95% PAYGO incentive with the final payment to be made when total reimbursements of $1,905,500 have been made or in 2041, whichever is earliest.9) The City anticipates an additional $16,546,165 of future capital projects within the district.LEGEND:10) Includes; (i) $1.00M for Catalytic Site 2 infrastructure, (ii) $500,000 for river path maintenance, (iii) $250,000 for river path lighting, and (iv) $250,000 for fire suppression grants.CALLABLE MATURITIESEND OF EXP. PERIODBalancesCapital Projects9Future Projects10Projected Expenditures1Total ExpendituresExisting Debt ServiceAnnual CumulativeFinancing CostsOngoing Planning & AdministrationPROJECTED CLOSURE YEARLiabilities Outstanding
Tax Incremental District No. 37 Project Plan Amendment City of Janesville Prepared by Ehlers Page | 22 Table 5.1 – Cash Flow For Tax Incremental District No. 42 Before Sharing MRO #1 MRO #2 MRO #3 MRO #4 MRO #52024 2025 2026 2029 2026TI Janesville XII LLC2COTTA LLC3Former JATCO Parcels4Former GM Parcels4Multifamily4Year $603,249 $185,920 $4,370,000 $8,155,000 $1,000,000Year202305,504 66,98972,493(72,493) (72,493)02023202405,0005,000(5,000) (77,493)789,169 20242025 9739735,2505,250(4,277) (81,770)12,614,269 20252026 76,38076,38060,325 18,5925,50084,417(8,037) (89,807)17,905,352 20262027 76,38076,38060,325 18,5925,75084,667(8,287) (98,094)17,826,435 20272028 76,38076,38060,325 18,5926,00084,917(8,537) (106,631)17,747,519 20282029 533,849533,84960,325 18,592 220,224 191,499 6,250496,88936,960(69,672)25,411,879 20292030 533,849533,84960,325 18,592 220,224 191,499 6,500497,13936,710(32,962)24,921,240 20302031 696,977696,97760,325 18,592 367,039 191,499 19,810 6,750664,01532,962 0 24,263,975 20312032 941,670941,67060,325 18,592 367,039 220,224 191,499 76,992 7,000941,6700 0 23,329,305 20322033 1,267,9271,267,92760,325 18,592 440,447 440,447 191,499 109,367 7,2501,267,9270 0 22,068,628 20332034 1,333,1791,333,17960,325 18,592 440,447 499,173 42,506 264,635 7,5001,333,1790 0 20,742,949 20342035 1,634,9661,634,96660,325 18,592 513,855 697,375 337,070 7,7501,634,9660 0 19,115,733 20352036 1,667,5921,667,592513,855 726,738 419,000 8,0001,667,5920 0 17,456,141 20362037 1,781,7821,781,782513,855 829,509 430,169 8,2501,781,7820 0 15,682,608 20372038 1,879,6591,879,659513,855 917,598 439,706 8,5001,879,6590 0 13,811,449 20382039 2,002,0062,002,006259,161 1,027,710 706,385 8,7502,002,0060 0 11,818,194 20392040 2,002,0062,002,0061,027,710 965,296 9,0002,002,0060 0 9,825,188 20402041 2,002,0062,002,0061,027,710 965,046 9,2502,002,0060 0 7,832,432 20412042 2,002,0062,002,006740,808 1,251,698 9,5002,002,0060 0 5,839,927 20422043 2,002,0062,002,0061,992,256 9,7502,002,0060 0 3,847,671 20432044 2,002,0062,002,0061,992,006 10,0002,002,0060 0 1,855,665 20442045 2,002,0062,002,0061,855,665 10,2501,865,915136,090136,090 020452046 2,002,0062,002,00610,50010,5001,991,506 2,127,596 0 20462047 2,002,0062,002,00610,75010,7501,991,256 4,118,852 0 20472048 2,002,0062,002,00611,00011,0001,991,006 6,109,857 0 20482049 2,002,0062,002,00611,25011,2501,990,756 8,100,613 0 20492050 2,002,0062,002,00611,50011,5001,990,506 10,091,118 0 20502051 2,002,0062,002,00611,75011,7501,990,256 12,081,374 0 2051Totals (2023 ‐ 2051)38,527,636 38,527,636 603,249 185,920 4,370,000 8,155,000 1,000,000 11,825,100 0 5,504 301,489 26,446,262Totals (2023 ‐ 2051)Notes:1) Revenues and expenses for 2023 per City audited financial statements.2) The developer receives an 80% PAYGO incentive for a 10‐year term.LEGEND:3) COTTA will receive $464.80 annually per new Living Wage Equivalent Job created up to 40 jobs for a 10‐year term. Assumes all 40 jobs are created.CALLABLE MATURITIESEND OF EXP. PERIOD5) Represents the total 1/2 mile project costs included in the TID 42 Project Plan.Projected Revenues1Projected Expenditures1BalancesTax IncrementsOngoing Planning & AdministrationTotal ExpendituresAnnual CumulativeEnvironmental RemediationTotal Revenues1/2 Mile Projects5Transfers OutPROJECTED CLOSURE YEARLiabilities Outstanding4) Assumes 90% of annual tax increment generated by the respective projects is available for the incentive payment. Incentive amounts shown are included for purposes of establishing economic feasibility only. The amount of any incentive to be provided will be established in applicable development agreements based on actual project costs and may vary from the estimates. Actual project costs will be determined as projects are proposed within the Di i
Tax Incremental District No. 37 Project Plan Amendment City of Janesville Prepared by Ehlers Page | 23 Table 5.2 – Cash Flow For Tax Incremental District No. 42 With Sharing MRO #1 MRO #2 MRO #3 MRO #4 MRO #52024 2025 2026 2029 2026TI Janesville XII LLC2COTTA LLC3Former JATCO Parcels4Former GM Parcels4Multifamily4Year $603,249 $185,920 $4,370,000 $8,155,000 $1,000,000Year202305,504 66,98972,493(72,493) (72,493)0 2023202405,0005,000(5,000) (77,493)789,169 20242025 973 477,991478,964477,991 5,250483,241(4,277) (81,770)18,524,158 20252026 76,380 165,647242,02760,325 18,592165,647 5,500250,064(8,037) (89,807)23,649,594 20262027 76,380 165,797242,17760,325 18,592165,797 5,750250,464(8,287) (98,094)23,404,880 20272028 76,380 165,947242,32760,325 18,592165,947 6,000250,864(8,537) (106,631)23,160,015 20282029 533,849 177,179711,02860,325 18,592 220,224 191,499 177,179 6,250674,06836,960(69,672)30,647,197 20292030 533,849 176,991710,84060,325 18,592 220,224 191,499 176,991 6,500674,13036,710(32,962)29,979,567 20302031 696,977 176,804873,78160,325 18,592 367,039 191,499 19,810 176,804 6,750840,81932,962 0 29,145,498 20312032 941,670 176,6161,118,28660,325 18,592 367,039 220,224 191,499 76,992 176,616 7,0001,118,2860 0 28,034,212 20322033 1,267,927 283,1641,551,09160,325 18,592 440,447 440,447 191,499 109,367 283,164 7,2501,551,0910 0 26,490,371 20332034 1,333,179 282,9761,616,15560,325 18,592 440,447 499,173 42,506 264,635 282,976 7,5001,616,1550 0 24,881,716 20342035 1,634,966 282,7891,917,75560,325 18,592 513,855 697,375 337,070 282,789 7,7501,917,7550 0 22,971,711 20352036 1,667,592 282,6011,950,193513,855 726,738 419,000 282,601 8,0001,950,1930 0 21,029,518 20362037 1,781,782 387,0172,168,800513,855 829,509 430,169 387,017 8,2502,168,8000 0 18,868,968 20372038 1,879,659 386,8302,266,489513,855 917,598 439,706 386,830 8,5002,266,4890 0 16,610,979 20382039 2,002,006 386,6422,388,648259,161 1,027,710 706,385 386,642 8,7502,388,6480 0 14,231,081 20392040 2,002,006 386,4552,388,4611,027,710 965,296 386,455 9,0002,388,4610 0 11,851,620 20402041 2,002,006 386,2672,388,2731,027,710 965,046 386,267 9,2502,388,2730 0 9,472,597 20412042 2,002,006 386,0802,388,086740,808 1,251,698 386,080 9,5002,388,0860 0 7,094,012 20422043 2,002,006 385,8922,387,8981,992,256 385,892 9,7502,387,8980 0 4,715,863 20432044 2,002,006 354,1692,356,1751,992,006 354,169 10,0002,356,1750 0 2,369,689 20442045 2,002,006 514,0232,516,0291,855,665 514,023 10,2502,379,939136,090136,090 020452046 2,002,0062,002,00610,50010,5001,991,506 2,127,596 20462047 2,002,0062,002,00610,75010,7501,991,256 4,118,852 20472048 2,002,0062,002,00611,00011,0001,991,006 6,109,857 20482049 2,002,0062,002,00611,25011,2501,990,756 8,100,613 20492050 2,002,0062,002,00611,50011,5001,990,506 10,091,118 20502051 2,002,0062,002,00611,75011,7501,990,256 12,081,374 2051Totals (2023 ‐ 2051)38,527,636 6,387,880 44,915,516 603,249185,920 4,370,000 8,155,000 1,000,000 11,825,100 6,387,880 5,504 301,489 32,834,142Totals (2023 ‐ 2051)Notes:1) Revenues and expenses for 2023 per City audited financial statements.2) The developer receives an 80% PAYGO incentive for a 10‐year term.LEGEND:3) COTTA will receive $464.80 annually per new Living Wage Equivalent Job created up to 40 jobs for a 10‐year term. Assumes all 40 jobs are created.CALLABLE MATURITIESEND OF EXP. PERIOD5) Represents the total 1/2 mile project costs included in the TID 42 Project Plan.Total ExpendituresAnnual CumulativePROJECTED CLOSURE YEARProjected Revenues1Total RevenuesBalances1/2 Mile Projects5Liabilities OutstandingEnvironmental Remediation4) Assumes 90% of annual tax increment generated by the respective projects is available for the incentive payment. Incentive amounts shown are included for purposes of establishing economic feasibility only. The amount of any incentive to be provided will be established in applicable development agreements based on actual project costs and may vary from the estimates. Actual project costs will be determined as projects are proposed within the District.Transfers from TID 37Tax IncrementsOngoing Planning & AdministrationProjected Expenditures1Transfers Out
Tax Incremental District No. 37 Project Plan Amendment City of Janesville
Prepared by Ehlers Page | 24
SECTION 9:
Annexed Property
A tax incremental district cannot include annexed territory unless at least three
years have elapsed since the annexation, or certain other requirements are met.
No territory is being added to the District as part of this Plan Amendment.
SECTION 10:
Estimate of Property to be Devoted to Retail Business
Pursuant to Wis. Stat. § 66.1105(5)(b), the City estimates that 100% of the
territory within the District will be devoted to retail business at the end of the
District’s maximum expenditure period.
SECTION 11:
Proposed Changes of Zoning Ordinances, Master Plan,
Map, Building Codes and City Ordinances
Zoning Ordinances
The proposed Plan Amendment is in general conformance with the City’s
current zoning ordinances. Individual properties may require rezoning at the
time of development.
Master (Comprehensive) Plan and Map
The proposed Plan Amendment is in general conformance with the City’s
Comprehensive Plan identifying the area as appropriate for commercial
development.
Building Codes and Ordinances
Development within the District will be required to conform to State Building
Codes and will be subject to the City's permitting and inspection procedures.
The proposed Plan Amendment conforms to all relevant State and local
ordinances, plans, and codes. No changes to the existing regulations are
proposed or needed.
Tax Incremental District No. 37 Project Plan Amendment City of Janesville
Prepared by Ehlers Page | 25
SECTION 12:
Statement of the Proposed Method for the Relocation of
any Persons to be Displaced
Should the continued implementation of this Plan require relocation of
individuals or business operations, relocations will be handled in compliance
with Wis. Stat. Chapter 32 and Wis. Admin. Code ADM 92.
SECTION 13:
How Amendment of the Tax Incremental District
Promotes the Orderly Development of the City
This Plan Amendment promotes the orderly development of the City by
providing funding for the rehabilitation of property, removal of blight, and
installation of infrastructure improvements within the Recipient Districts as a
result of the increment sharing. Through the use of tax increment financing, the
City can attract new investment that results in an increased tax base.
Development will occur in an orderly fashion in accordance with approved
plans so that the projects will be compatible with adjacent land uses.
Development of new uses in the Recipient Districts will add to the tax base and
generate positive secondary impacts in the community such as increased
employment opportunities, increased income and sales tax collection, new
commercial and manufacturing activity, the elimination of blighting qualities,
and other benefits to the local economy resulting from the purchase of goods
and services related to construction and operation of the projects.
Tax Incremental District No. 37 Project Plan Amendment City of Janesville
Prepared by Ehlers Page | 26
SECTION 14:
List of Estimated Non-Project Costs
Non-project costs are public works projects which only partly benefit the
District. Costs incurred that do not benefit the District may not be paid with tax
increments. Examples of non-project costs are:
A public improvement made within the District that also benefits
property outside the District. That portion of the total Project Costs
allocable to properties outside of the District would be a non-project
cost.
A public improvement made outside the District that only partially
benefits property within the District. That portion of the total Project
Costs allocable to properties outside of the District would be a non-
project cost.
Projects undertaken within the District as part of the implementation of
this Project Plan, the costs of which are paid fully or in part by impact
fees, grants, special assessments, or revenues other than tax increments.
No improvements to be made within the District will benefit property outside
the District. Furthermore, there will be no improvements made outside the
District that will only partially benefit the District.
Tax Incremental District No. 37 Project Plan Amendment City of Janesville
Prepared by Ehlers Page | 27
SECTION 15:
Legal Opinion Advising Whether the Plan is Complete
and Complies with Wis. Stat. § 66.1105(4)(f)
Tax Incremental District No. 37 Project Plan Amendment City of Janesville
Prepared by Ehlers Page | 28
Tax Incremental District No. 37 Project Plan Amendment City of Janesville
Prepared by Ehlers Page | 29
SECTION 16:
Calculation of the Share of Projected Tax Increments
Estimated to be Paid by the Owners of Property in the
Overlying Taxing Jurisdictions
The following projection is provided to meet the requirements of Wis. Stat. §
66.1105(4)(i)4. Allocation of future tax increments is based on the projections
included in this Plan and assumes the same proportions as the actual
breakdown of tax collections for the 2024/2025 levy year.
Revenue
Year Rock County City of Janesville
Janesville
School District
Blackhawk
Technical
College Total
Revenue
Year
2019 11,779 17,533 19,263 2,317 50,892 2019
2020 68,026 101,260 111,253 13,382 293,921 2020
2021 96,554 143,725 157,907 18,994 417,180 2021
2022 97,161 144,630 158,902 19,113 419,806 2022
2023 98,569 146,725 161,203 19,390 425,887 2023
2024 72,933 108,565 119,278 14,347 315,124 2024
2025 115,941 172,585 189,615 22,808 500,948 2025
2026 115,941 172,585 189,615 22,808 500,948 2026
2027 115,941 172,585 189,615 22,808 500,948 2027
2028 115,941 172,585 189,615 22,808 500,948 2028
2029 115,941 172,585 189,615 22,808 500,948 2029
2030 115,941 172,585 189,615 22,808 500,948 2030
2031 115,941 172,585 189,615 22,808 500,948 2031
2032 115,941 172,585 189,615 22,808 500,948 2032
2033 115,941 172,585 189,615 22,808 500,948 2033
2034 115,941 172,585 189,615 22,808 500,948 2034
2035 115,941 172,585 189,615 22,808 500,948 2035
2036 115,941 172,585 189,615 22,808 500,948 2036
2037 115,941 172,585 189,615 22,808 500,948 2037
2038 115,941 172,585 189,615 22,808 500,948 2038
2039 115,941 172,585 189,615 22,808 500,948 2039
2040 115,941 172,585 189,615 22,808 500,948 2040
2041 115,941 172,585 189,615 22,808 500,948 2041
2042 115,941 172,585 189,615 22,808 500,948 2042
2043 115,941 172,585 189,615 22,808 500,948 2043
2044 115,941 172,585 189,615 22,808 500,948 2044
2045 115,941 172,585 189,615 22,808 500,948 2045
Totals 2,879,785 4,286,717 4,709,715 566,506 12,442,723
Resolution 2025-2342
Final Audit Report 2025-08-15
Created:2025-08-12
By:Elizabeth Lopez (lopeze@janesvillewi.gov)
Status:Signed
Transaction ID:CBJCHBCAABAABzN9IcszzszrfY1WBG5R0T3hxwJ7wdQ1
"Resolution 2025-2342" History
Document created by Elizabeth Lopez (lopeze@janesvillewi.gov)
2025-08-12 - 5:36:30 PM GMT
Document emailed to Kevin Lahner (lahnerk@janesvillewi.gov) for signature
2025-08-12 - 5:36:40 PM GMT
Email viewed by Kevin Lahner (lahnerk@janesvillewi.gov)
2025-08-15 - 11:24:02 AM GMT
Document e-signed by Kevin Lahner (lahnerk@janesvillewi.gov)
Signature Date: 2025-08-15 - 11:24:18 AM GMT - Time Source: server
Document emailed to Lorena Stottler (stottlerl@janesvillewi.gov) for signature
2025-08-15 - 11:24:21 AM GMT
Email viewed by Lorena Stottler (stottlerl@janesvillewi.gov)
2025-08-15 - 1:04:23 PM GMT
Document e-signed by Lorena Stottler (stottlerl@janesvillewi.gov)
Signature Date: 2025-08-15 - 1:04:33 PM GMT - Time Source: server
Agreement completed.
2025-08-15 - 1:04:33 PM GMT