2006-269
Resolution 2006 - 269
A Resolution Approving an Amendment No.2 to the Project Plan Tax Increment
Finance District No. VIII within the City of Janesville, Rock County, Wisconsin
WHEREAS, on June 2, 1992, the Common Council of the City of Janesville adopted a
Project Plan and created City of Janesville Tax Increment Finance (TIF) District No. VIII in
accordance with the provisions of Wisconsin Statutes § 66.1105; and
WHEREAS, on November 23, 1998, the Common Council of the City of Janesville
adopted Amendment NO.1 to the Project Plan for TIF District No. VIII; and
WHEREAS, Wisconsin's TIF Statutes allow for the amendment of TIF project plans
following notice to all overlying taxing jurisdictions, public hearing, and the review and
recommendation of the City Plan Commission; and
WHEREAS, the Janesville Plan Commission has held a public hearing on proposed
Amendment NO.2 to the TIF No. VIII Project Plan and has recommended its approval;
and,
WHEREAS, the Chief Executive Officer of the Janesville School District, the Blackhawk
Technical College District; the Rock County Board, and other entities having the power to
levy taxes on the property located within TIF District No. VIII have been notified pursuant
to Section 66.1105 (4) (a), (e), and (h), of Wisconsin Statutes; and
WHEREAS, TIF District No. VIII, as amended, is hereby declared an "industrial TIF
district" with all of the land within TIF District No. VIII, as amended, currently zoned M-1
Light Industrial and/or M-2 General Industrial, found to be suitable for industrial
development within the meaning of Wisconsin Statutes § 66.1101, and will remain zoned
industrial for the life of the TIF District; and
WHEREAS, the equalized valuation of all property within TIF District No. VIII, as
amended, plus the value increment of all existing City of Janesville tax increment finance
districts does not exceed 12% of the total equalized valuation of the City of Janesville, and
WHEREAS, the project costs set forth in the Project Plan for TIF District No. VIII, as
amended, directly serve to promote industrial development, consistent with the purpose
for which this TIF District is created and the improvement of such areas for industrial
projects will significantly enhance the value of all property within the TIF District; and
WHEREAS, the Project Plan for TIF No. VIII, as amended, is economically feasible and
has been found to be in accordance with the City's Master Plan, Zoning Ordinance, and
that the implementation of the Project Plan for TIF No. VIII, as amended, is in the best
interest of the City and for the benefit of its citizens.
NOW, THEREFORE, BE IT RESOLVED, by the Common Council of the City of Janesville
that it hereby approves Amendment NO.2 to the Project Plan for City of Janesville Tax
Increment Finance District No. VIII.
Resolution 2006 - 269
Page 2
ADOPTED:
May 8, 2006
APPROVED:
#C~
stev n E. Sheiffer, City Man er
ATTEST:
APPROVED AS TO FORM:
ttJ4fl-( ~
City Attorney
Proposed by: City Manager
Prepared by: Economic Development Director
Motion by: Wellnitz, Tom
Second by: Brunner
Councilmember Aye Nay Pass Absent
Brunner X
Brien X
Williams X
Wellnitz, Tim X
Wellnitz, Tom X
DeGarmo X
Addie X