2007-437
Resolution No. 2007 - 437
A Resolution Authorizing the Dissolution of Tax Increment Finance District No. 12
WHEREAS, the Common Council of the City of Janesville, pursuant to Wisconsin's Tax
Increment Law (Section 66.1105 Wisconsin Statutes), created Tax Increment Finance District
No. 12 (TIF No. 12) by adopting Resolution No. 94 - 1811 on September 6,1994; and
WHEREAS, the development projects contemplated in the TIF No. 12 Project Plan are
completed and all of the City's costs associated with the creation of TIF No. 12 have been
fully recovered through the positive tax increments created within TIF No. 12; and
WHEREAS, the TIF No. 12 has received tax increments in excess of project costs that have
been shared with TIF No.3 in accordance with Project Plan Amendments approved by
Council Resolution 2003 - 402 adopted on September 22, 2003 and that there are no surplus
funds to be returned to the local taxing jurisdictions, which have contributed tax revenues to
TIF No. 12;
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of Janesville,
that TIF No. 12 is hereby terminated and dissolved and that the City Clerk-Treasurer is
hereby directed to notify the Wisconsin Department of Revenue of this dissolution according
to Section 66.1105 (8), Wisconsin Statutes.
ADOPTED:
October 22, 2007
Motion by: Williams
Second by: Truman
Council member Aye Nay Pass Absent
Brunner X
DeGamno X
Loasching X
Steeber X
Truman X
Wellnitz X
Williams X
APPROVED:
4~ e ~-
Steven E. Sheiffer, City Manager
ATTEST:
APPROVED AS TO ~ORr:}'
$~W
City Attorney
Proposed by: City Manager
Prepared by: Economic Development Director