2006-249
Resolution No. 2006 - 249
RESOLUTION APPROVING AMENDMENT No.1 TO THE PROJECT PLAN FOR TAX
INCREMENT FINANCE DISTRICT NO.9
WITHIN THE CITY OF JANESVILLE, ROCK COUNTY, WISCONSIN
WHEREAS, on December 14, 1992 the Common Council of the City of Janesville
adopted a Project Plan and created Tax Increment Finance District NO.9 in accordance
with the provisions of Wisconsin Statues § 66.1105; and
WHEREAS, Wisconsin Statutes Section 66.1105 (4 )(h) provides for the amendment of
TIF Project Plans and TIF boundaries following notice to all overlying jurisdictions,
public hearing, and review and recommendation by the City Plan Commission; and
WHEREAS, the City of Janesville has prepared Amendment NO.1 to the Project Plan
for TIF No.9 in order to revise the project budget and to amend the TIF NO.9 boundary
to include and adjacent three block area; and
WHEREAS, the Chief Executive Officer of the Janesville School District, Rock County
Board, Blackhawk Technical College, and the other entities having the power to levy
taxes on the property located within the proposed Tax Increment District No.9 have
been notified pursuant to Section 66.1105 (4) (a) and (e), Wisconsin State Statutes; and
WHEREAS, the owners of blighted properties and properties in need of rehabilitation or
conservation were notified of the Plan Commission public hearing as required by
Wisconsin Statutes 66.1105 (4 )(c); and
WHEREAS, the Plan Commission has held a public hearing on Amendment NO.1 to the
Project Plan of Tax Increment District No.9, the proposed boundaries thereof and
recommended its approval; and
WHEREAS, TIF District No.9 as amended, is declared to be an "blighted area TIF
district", where more than 51 % of the land is currently blighted and/or in need of
rehabilitation or conservation work; and
WHEREAS, the project costs directly serve to promote blight elimination and rehabilitate
properties, consistent with the purpose for which the TIF District is created, and the
improvement and revitalization of such areas will significantly enhance the value of all
property within the TIF District; and
WHEREAS, the equalized value of taxable property within TIF NO.9 as amended, plus
the value increment of all existing Janesville TIF Districts does not exceed twelve
percent (12%) of the total equalized value of property within the City of Janesville; and
Resolution 2006 - 249
Page 2
WHEREAS, the amended Project Plan for Tax Increment District NO.9 is economically
feasible and has been found to be in accordance with the City's Master Plans, Zoning
Ordinance, and other relevant uses and that this project is in the best interest of the City
of Janesville and for the benefit of its residents.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of
Janesville that it hereby approves Amendment No. 1 to the Project Plan for City of
Janesville Tax Increment Finance District No.9, amends the boundaries of TIF District
NO.9 as described on the attached map and Amended Project Plan for TIF No.9., and
refers Amendment NO.1 to a Joint Review Board for review and approval according to
Wisconsin Statutes.
ADOPTED: March 27, 2006
Motion by: Williams
Second by: Tim Wellnitz
Councilmember Aye Nay Pass Absent
Brunner X
Brien X
Williams X
Wellnitz, Tim X
Wellnitz, Tom X
DeGarmo X
Addie X
APPROVED:
~zÆk
-steVen E. Sheiffer, City ~ager
ATTEST:
~~~.¿,~ ///~4'
nAnn Wulf, City Clerk-TreaSUr"
APPROVED AS TO FORM:
Ci~ AtlOrn,jJJLPN1
Proposed by: City Manager
Prepared by: Economic Development Director