2013-1004 Resolution No. 2013 -1004
A Resolution Authorizing the City Manager to Enter into a TIF Development Agreement with
GOEX Corporation for a Business Expansion in TIF District 21
WHEREAS, the Common Council of the City of Janesville created Tax Incremental Finance District No.
21 in 1998 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. 21 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, GOEX Corporation ( "GOEX ") is a Wisconsin domestic corporation currently conducting its
principal business at 2532 Foster Avenue, City of Janesville, County of Rock, State of Wisconsin 53545,
and shall be the OWNER and DEVELOPER of a manufacturing center ( "FACILITY ") to be constructed by
GOEX upon an approximately Twenty Four (24) acre parcel of real property to be located at 802 U.S.
Highway 14 E., City of Janesville, County of Rock, State of Wisconsin 53546 ( "PROPERTY "); and
WHEREAS, GOEX intends, promises to, and shall construct and operate an approximately One Hundred
Sixty One Thousand Eight Hundred Seventy Five square foot (161,875 sq. ft.) 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 Five Million Five Hundred Seventeen Thousand Two Hundred Fifty and 00/100 Dollars
($5,517,250.00); 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. 21 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 GOEX 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, 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: April 8, 2013 Motion by: Dongarra -Adams
Second by: Steeber
APPROVED: Councilmember Aye Nay Pass Absent
�j / Dongarra -Adams X
.� Farrell X
Eric J. Levitt, ' anager Kealy X
Liebert X
ATTEST: Severson X
Steeber X
�� .1/..r.at I Voskuil X
Jean # nn Wulf, City Clerk- Treasurer
APPROVED AS TO FORM:
Wald Klimczyk, Ity Attorney
Proposed by: Economic Development Director
Prepared by: City Attorney