2012-944 Resolution 2012 - 944
A Resolution Authorizing an Option to Purchase and Subsequent Sale of a 5.13 -acre
Industrial Site Located at 4385 Capital Circle to Helgesen Family Limited Partnership
WHEREAS, the City of Janesville desires to SELL an industrial site consisting of approximately
Five and Thirteen One Hundredths (5.13) acres of land located at 4385 Capital Circle in the City
of Janesville, legally described as: Lot 1 CSM Doc 1712584 Vol 28, Pgs 269- 271,CSM Rock Co,
WI DAF: Pt SE 1/4 Sec 33, T3N, R13E, 4th PM, City of Janesville, Rock Co, WI. 0233300503
(the "Property "); and
WHEREAS, Helgesen Family Limited Partnership has entered into a binding Option to
Purchase the Property with the City, which Offer is dated the 4th day of October, 2012; and
WHEREAS, the City of Janesville is authorized and empowered to purchase, acquire, use and
sell the Property for such industrial site and related development purposes and uses, and to enter
into such Option to Purchase Agreement and subsequent sale, pursuant to Wis. Stats. §§
62.11(5), 62.22 (1) and (1m), 62.23 (17) (a), 62.23 (17) (b), 66.0101, 66.1101, and related
statutes; and
WHEREAS, the Common Council hereby find that such purchase, development, uses, lease,
option to sell, and/or sale constitute public purpose(s) that benefit the community and promote
the economic, development, health, welfare, safety, good order and best interests of the City, its
residents, businesses and visitors; and
WHEREAS, the Janesville Plan Commission reviewed this property as part of the approval of
the project plan for TIF District 14 on the 27th day of February, 1995 and found it to be
consistent with long range City plans to purchase and resell the property for industrial
development; and
WHEREAS, the Common Council approved resolution 94 -1855 on the 30 day of March, 1995
creating TIF District 14 for the purpose of industrial development; and
WHEREAS, the following terms and conditions apply to the options to purchase and acquire the
property: Helgesen Family Limited Partnership shall pay option fees of $100.00 forthwith,
$1,250.00 by December 31, 2013, $2,500.00 by December 31, 2014, $3,750.00 by December 31,
2015, and $5,000.00 by December 31, 2016 to have the opportunity to execute the offer to
purchase the property for $28,000.00 per acre for this 5.13 acre parcel, which is $143,640.00; and
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of Janesville
that they hereby approve and authorize the City Manager and/or his designee(s) to enter an
Option to Purchase and SELL and close upon the City's conveyance of the Property on behalf of
the City to Helgesen Family Limited Partnership if it exercises its Option to Purchase; 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 and empowered to negotiate, draft, modify, review,
execute and enter into additional agreements, record, file and/or make minor modifications
and/or amendments to any and all documents, papers, forms, and agreements, and to take
whatever other actions as the City Manager may determine, from time to time and at any time,
Resolution 2012 - 944
Page 2
necessary and/or desirable to effectuate the intent of this resolution and/or the public good.
ADOPTED: October 22, 2012 Motion by: Steeber
Second by: Dongarra -Adams
APPROVED: Councilmember Aye Nay Pass Absent
Dongarra -Adams X
�' AK Farrell X
Enc J. L- if ity Manager Liebert X
Kealy X
ATTE - : Severson X
` ✓ Steeber X
Voskuil X
Je. Ann Wulf, City Clerk -Trea -r
1
APPROVED AS TO FORM:
Assistant City Attorney
Proposed by Economic Development Director
Prepared by Assistant City Attorney .-