2012-875 Resolution No. 2012 -875
RESOLUTION APPROVING AMENDMENT NO. 1 TO THE PROJECT PLAN FO''
TAX INCREMENT FINANCE DISTRICT NO. 35
WITHIN THE CITY OF JANESVILLE, ROCK COUNTY, WISCONSIN
WHEREAS, the Common Council of the City of Janesville adopted Resolution No.
2011 -816 on August 22, 2011, creating the City of Janesville Tax Increment Finance
District No. 35 in accordance with the provisions of Wisconsin Statutes Section 66.1105;
and
WHEREAS, the City of Janesville Administration is now proposing Amendment No. 1 to
the Project Plan for TIF No. 35 revising the project budget and amending the TIF No. 35
boundary to include an additional 84 acres of industrial land; and
WHEREAS, the Janesville Plan Commission has held a public hearing on proposed
Amendment No. 1 to the Project Plan of Tax Increment District No. 35 and the propo .ed
new boundaries of the Amended TIF district on the 6 day of February, 2012, and fou d
both proposed amendments to be acceptable and consistent with the long range pla s
of the City and its best interests; and
WHEREAS, the Chief Executive Office of the Janesville School District, Rock Count
Board, Blackhawk Technical College, and other entities having the power to levy tax: s
upon the property located within the proposed Tax Increment District No. 35 have be -n
notified of the proposed Amendment to the Project Plan for TIF No. 35, pursuant to
Section 66.1105 (4)(a) and (e), Wisconsin State Statutes; and
WHEREAS, Tax Increment Finance District No. 35, as amended, is declared to be a
"industrial TIF district ", where more than 51 % of the land is currently zoned M -1
Industrial and has been found suitable for industrial development within the meaning of
Section 66.1101, Wisconsin State Statutes, and will remain zoned for industrial
purposes for the life of the TIF District; and
WHEREAS, the project costs directly serve to promote industrial development,
consistent with the purpose for which the TIF District was created, and the improvem-nt
of the proposed additional areas for industrial projects will significantly enhance the
value of all property within the City of Janesville; and
WHEREAS, the equalized value of taxable property within the amended boundaries of
TIF No. 35 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 •
Janesville; and
WHEREAS, the amended Project Plan for Tax Increment District No. 35 is economically
feasible and in conformity and has been found to be in accordance with the City's
Resolution No. 2012 -875
TIF 35 Amendment No. 1
Page 2
General Development Plans, Zoning Ordinance, and other relevant policies; and that
implementation of the improvements as set forth in the Amended TIF No. 35 Project
Plan is in the best interest of the City of Janesville and for the benefit of its residents
and taxpayers.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of
Janesville that they hereby approve Amendment No. 1 to the Project Plan for City of
Janesville Tax Increment Finance District No. 35, and refer Amendment No. 1 to a Joint
Review Board for review and approval according to Wisconsin Statutes.
ADOPTED: February 13, 2012 Motion by: Rashkin
Second by: Voskuil
APPROVED: Councilmember Aye Nay Pass Absent
Dongarra -Adams X
Liebert X
r
Eric J. L i tt, ?/ anager McDonald X
Rashkin X
ATTEST: Steeber X
Voskuil X
41 , 'd L / /t/ L <
-an Ann Wu City Clerk- Treasur-
APPROVED AS TO FORM:
Wald Klimczyk, City Attorney
Proposed by: City Manager
Prepared by Community Development