2012-882 Resolution No. 2012 - 882
A Resolution Approving a TIF District 35 Development, Land Sale, and Loan Agreement With
SHINE MEDICAL TECHNOLOGIES, INC.
WHEREAS, the Common Council of the City of Janesville shall create Tax Incremental Finance District
No. 35 in accord with Wisconsin's Tax Increment Financing Laws, Wis. Stats. Sec. 66.1105 and other
applicable statutes, as from time to time amended or renumbered, in order to stimulate the development
and redevelopment of industrially zoned properties; retain and increase employment; construct, renovate
and expand industrial facilities; and otherwise provide for the overall economic health, welfare, vitality,
and good of the community; and
WHEREAS, the Project Plan for Janesville TIF District No. 35 includes industrial and manufacturing
development and redevelopment, improvements, facility construction, expansion, and renovation, job
retention and creation, and related financing, incentives, payments, loans, and actions that effectuate
and /or facilitate these legitimate and pressing public purposes and goals; and
WHEREAS, Shine Medical Technologies, Inc. (SHINE ") is a Wisconsin domestic corporation currently
conducting its principal business at 2555 Industrial Drive., City of Monona, County of Dane, State of
Wisconsin 53713, and shall be the OWNER and DEVELOPER of a manufacturing center ( "FACILITY ") to
be constructed by SHINE upon an approximately Eighty Four (84) acre parcel of real property to be
located at 4021 U.S. Highway 51 S., City of Janesville, County of Rock, State of Wisconsin 53546
( "PROPERTY "); and
WHEREAS, SHINE shall conduct its principal business at the FACILITY upon the PROPERTY; and the
City shall attach and incorporate the entire site into its municipal corporate boundaries and jurisdiction,
amend the boundaries of an existing Tax Incremental Financial District (T.I.F. District No. 35) to include
the PROPERTY, amend the TIF District No. 35 Project Plan if necessary, and then eventually sell and
convey the PROPERTY to SHINE for the construction and operation of the FACILITY, assessed value
addition, new job creation and maintenance, and related economic and industrial development purposes
as set forth in a certain executed and binding T.I.F. DEVELOPMENT AGREEMENT FOR NEW
INDUSTRIAL BUILDING CONSTRUCTION LOCATED PRIMARILY IN JANESVILLE PROPOSED T.I.F.
DISTRICT NO. 35 FOR DEVELOPMENT PURPOSES BY AND BETWEEN THE CITY OF JANESVILLE
( "THE CITY ") AND SHINE MEDICAL TECHNOLOGIES, INC. ( "SHINE ") (the "AGREEMENT "), the
terms, provisions, and promises of which AGREEMENT are reiterated and incorporated herein by
reference as if fully set forth verbatim; and
WHEREAS, SHINE intends, promises to, and shall construct and operate an approximately Thirty Five
Thousand square foot (35,000 sq. ft.) high technology manufacturing and production FACILITY upon this
PROPERTY, which PROPERTY and FACILITY at all times during this AGREEMENT shall have a
combined real and personal property tax assessed value in an amount of not less than Twenty Five
Million and 00/100 Dollars ($25,000,000); and create and maintain the new full -time employment
equivalent positions of employment at the FACILITY in the manner, time, kind, and number set forth in,
and during the entire term of, the AGREEMENT; and
WHEREAS, there are currently sufficient positive fund balances in the TIF District No. 35 improvement
and overall project accounts, and these expenditures fall within the allowable time and scope for said
Development Agreement and expenditures; and
WHEREAS, the Common Council hereby find that the City Administration has negotiated the
AGREEMENT with SHINE upon terms, conditions, promises, obligations, provisions, and purposes,
consistent with the best interest of and benefit to the City, all applicable laws, and Common Council
industrial and economic development policies, goals, objectives, and directives.
NOW, THEREFORE, BE IT RESOLVED, by the Common Council of the City of Janesville that:
1. Each and every of the above recitals are reiterated and incorporated herein by reference as if
fully set forth verbatim; and
2. The above described AGREEMENT and proposed City land transactions, incentives, loans,
guarantees, purposes, industrial development, and promises are each hereby authorized, ratified, and
approved; and
3. All expenditures, terms, conditions, promises, obligations, and provisions set forth in the
AGREEMENT are hereby found to be in the best interest of, and for the benefit of, the CITY, its
residents, businesses, and taxpayers; and
4. The City Manager and /or his designee(s) is /are hereby authorized to execute, enter into, and
effectuate the terms, provisions, and promises set forth in the AGREEMENT on behalf of the City of
Janesville; and
BE IT FURTHER RESOLVED, that the City Manager and /or his designee(s), on behalf of the City of
Janesville, is /are hereby authorized to further administratively negotiate, draft, execute, review, enter in,
modify, amend, record, file, and otherwise effectuate the above described AGREEMENT and to take,
make, and /or enter into any and all actions, and related amendments, agreements, promissory notes,
contracts, documents, papers, obligations, and promises that the City Manager and /or his designee(s)
may, from time to time and at any time, determine necessary and /or desirable to effectuate the
AGREEMENT and /or the intent and purposes of this Resolution.
ADOPTED: February 13, 2012 Motion by: Dongarra -Adams
Second by: Steeber
APPRO D: / _ 7 Councilmember Aye Nay Pass Absent
i Dongarra -Adams X
/�� /� Liebert X
Er J. Le ' 'it Manager McDonald X
Rashkin X
ATTE . : Steeber X
dir 1 Voskuil X
Je- - Ann Wulf, City
APPROVED AS TO FORM: 1 4..�: -
Wald Klimcz it Attorne -
Y , Y Attorney __ . _
Proposed by Economic Development Director _
Prepared by: City Attorney - -