2007-368
Resolution 2007 - 368
A Resolution Approving a TIF Development Agreement with Helgesen Holdings I,
llC, Authorizing the Sale of a 22.5 Acre Industrial Parcel of land and Granting an
Option to Purchase an 10.8 Acre Industrial Parcel of land in TIF No. 22
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 Common Council has authorized the use of Tax Increment Financing
Districts for industrial site development and TIF Development agreements when the
Council adopted amended Council Policy Statement No. 61 (Economic Development
Policy) on the 14th day of November, 2006; and,
WHEREAS, Helgesen Holdings I, LLC (hereinafter "Helgesen"), a Wisconsin limited
liability company desires to construct a new 250,000 sf manufacturing/warehousing
building in Tax Increment Finance (TIF) District No. 22 according to the terms of a TIF
Development Agreement attached hereto and incorporated herein as if fully set forth;
and
WHEREAS, the Common Council of the City of Janesville lawfully created TIF No. 22 on
the 2yth day of September, 1999 and amended the TIF No. 22 Project Plan and
boundaries on the 25th day of October, 2004, which TIF District was duly reviewed and
approved by all necessary boards and commissions; and,
WHEREAS; the Plan Commission reviewed the sale of industrial properties within TIF
No. 22 at the time this TIF district was created and amended, and found sale to be
consistent with City plans, but did not comment on the financial aspects of any specific
transaction; and
WHEREAS, the Common Council of the City of Janesville finds the approval of the TIF
Development Agreement, the sale of the 22.5 acre industrial site and the granting of an
option to purchase an 10.8 acre industrial site in TIF No. 22 to Helgesen to be in the best
interest of and benefit to the City, its citizens, and the overall community;
NOW, THEREFORE, BE IT RESOLVED, by the Common Council of the City of
Janesville that it hereby approves the TIF Development Agreement with Helgesen
Holdings I, LLC; approves the sale of a 22.5 acre industrial site and approves the
granting of an option to purchase an 10.8 acre industrial site in TIF No. 22 according to
the terms and conditions set forth in the attached Development Agreement, and
Resolution 2007 - 368
Page 2
BE IT FURTHER RESOLVED, that the City Manager, on behalf of the City of
Janesville, is hereby authorized to negotiate, draft, modify, amend, review, and file all
such other documents, papers, and agreements, to take whatever other actions, and
to make whatever changes and amendments to the TIF Development Agreement and
Option to Purchase Agreement, and such other documents and agreements which the
City Manager may, from time to time, deem necessary and/or desirable to effectuate
the intent of this Resolution.
ADOPTED:
January 22, 2007
Motion by: Williams
Second by: Addie
Councilmember Aye Nay Pass Absent
Brien X
Wellnitz, Tom X
Williams X
Brunner X
Wellnitz, Tim X
DeGarmo X
Addie X
APPROVED:
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Steven E. Sheiffer, City Man ger ~
ATTEST:
APPROVED AS TO FORM:
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City Attorney
Proposed by: City Manager
Prepared by: Economic Development Director