2013-1029 RESOLUTION NO 2013 -1029
A RESOLUTION TERMINATING, DISSOLVING, AND DE- CERTIFYING TIF DISTRICT
No. 30
WHEREAS, the City of Janesville adopted Resolution No. 2008 -528 creating Tax
Incremental District No. 30 on September 22, 2008, and adopted a project plan for the
district that year; and
WHEREAS, Wis. Stats. Sec. 66.1105(7) requires the termination and dissolution of
created TIF districts upon the expiration of the life of the district and /or the happening of
one or more events enumerated in the applicable Wisconsin statutes; and
WHEREAS, TIF District No.30 has experienced a dramatic drop in its base value and
has not experienced and project growth to overcome the negative value; and
WHEREAS, all TIF District No. 30 has had no project expenditures or debt service
beyond basic administration costs; and
WHEREAS, because no new value has been created in the TIF and the overlying taxing
jurisdictions have not had any taxes withheld since the creation of the TIF in 2008.
NOW BE IT HEREBY RESOLVED that the Common Council of the City of Janesville
do hereby terminate, dissolve, and decertify TIF District No. 30, effective forthwith; and
BE IT FURTHER RESOLVED, that the City Clerk- Treasurer shall notify the Wisconsin
Department of Revenue, within sixty (60) days of the adoption of this resolution that TIF
District No. 30 has been terminated and dissolved, in accord with state law; and
BE IT FURTHER RESOLVED, that the City Clerk- Treasurer shall sign the required
Wisconsin Department of Revenue final accounting form agreeing on a date by which
the City of Janesville shall send final audited information to the Wisconsin Department
of Revenue; and
BE IT FURTHER RESOLVED, that the City Clerk- Treasurer shall distribute any excess
increment collected, after providing for ongoing expenses of the District, to the affected
taxing districts that paid into the District during its life, with proportionate shares to be
determined by the final audit by the City's Comptroller and /or Auditors.
RESOLUTION NO 2013 -1029
A RESOLUTION TERMINATING, DISSOLVING, AND DE- CERTIFYING TIF DISTRICT
No. 30
Page 2
ADOPTED: June 24, 2013 Motion by: Kealy
Second by: Severson
APPROVED: Councilmember Aye Nay Pass Absent
Farrell X
Z, \16- � Fitzgerald X
Ja inzenz, Interim Ci ana r Kealy X
ATTEST: Liebert X
Marklein X
��� „�� Air i Severson X
Je- Ann Wulf, City Clerk - Treasure Voskuil X
APPROVED AS TO FORM:
ele-ge
Wald Klimczyk, City Attorney
Proposed by Economic Development
Prepared by Economic Development