2002-268Resolution No. 2002 - 268
RESOLUTION APPROVING THE PROJECT PLAN AND CREATING TAX
INCREMENT FINANCE DISTRICT No. 23 WITHIN THE CITY OF JANESVILLE
ROCK COUNTY, WISCONSIN
WHEREAS, the Plan Commission has held a public hearing on the proposed creation of Tax
Increment District No. 23 and the proposed boundaries thereof, and on the proposed Project Plan
for Tax Increment District No. 23 which is attached hereto by reference; and
WHEREAS, the Chief Executive Officer of the local school district, Rock County Board,
Blackhawk Technical College, and the other entities having the power to levy taxes on the
property located within the proposed Tax Increment District No. 23 have been notified pursuant
to Section 66.1105 (4) (a) and (e), Wisconsin State Statutes; and
WHEREAS, the Joint Review Board required by Section (4m) of Chapter 66.1105 of Wisconsin
State Statutes has been convened; and
WHEREAS, the City Attorney has determined that the Project Plan for T~ No. 23 is complete
and complies with Wisconsin Statutes;
WHEREAS, the adoption of the Project Plan and the creation of TIF No. 23 is in the best interest
of the City of Janesville and for the benefit of its residents.
NOW, THEREFORE, BE IT RESOLVED by the Common CounCil of the City of Janesville
pursuant to the Tax Increment Law finds that:
There is hereby created a Tax Increment District to be known as Tax Increment District
No. 23, in the City of Janesville, as described in the above referenced TIF No. 23 Project
Plan.
B. Such TW District No. 23 is created with an effective date of January 1, 2002.
C. At least 50% of the area of real area within such TIF District No. 23 is blighted and/or in
need of "rehabilitation or conservation work" within the meaning of Section 66.1337 (2m).
The improvement of such area by implementing the TIF No. 23 Project Plan is likely to
enhance the value of substantially all other real property in such district and the surrounding
neighborhood.
Eo
The proposed Project Costs relate directly to eliminating blight, directly serve to rehabilitate
or conserve the area consistent with the purpose for which the TIF District is created under
Sub-section 66.1105 4. a.
Fo
The aggregate value of taxable property within all Janesville TIF Districts does not exceed
7% of the total equalized value of all property within the City of Janesville.
RESOLUTION 2002-268
Page 2
G. Such Project Plan for TIF District No. 23, City of Janesville is economically feasible.
H. The Project Plan for TIF District No. 23 is in conformance with the City's Plans.
BE IT FURTHER RESOLVED, that the Common Council of the City of Janesville approves the
district boundaries as described in the attached Project Plan, and further, approves the Project
Plan for TIF District No. 23 pursuant to the provisions of Section 66.1105 of the Wisconsin State
Statutes.
ADOPTED: September 9, 2002
~-'~te e~e~n E. Sheiffer, C~-i~a~ager
ATTEST:
Jefi~ Ann Wulf, City Clerk-Treasure~r~
APPROVED AS TO FORM:
City Attorney
MOTION BY: 0 ' Leary
SECOND BY: Steeber
COUNCILMEMBER AYE NAY PASS ABSENT
STEEBER X
MURPHY X
DAMRON X
WILLIAMS X
DEGARMO X
BRIEN X
O'LEARY X
Proposed by:
Prepared by:
City Manager
Economic Development Director