2013-1061 RESOLUTION NO. 2013 -1061
A Resolution Approving Amendment No. 1 to the TIF District 35 Development, Land
Sale, and Loan Agreement With SHINE MEDICAL TECHNOLOGIES, INC.
WHEREAS, the Common Council of the City of Janesville created 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 included 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, entered into a certain TIF
Development Agreement for new industrial building construction located primarily in
Janesville proposed TIF District No. 35 for development purposes by and between City of
Janesville ( "The CITY ") and Shine Medical Technologies, Inc., dated the 26'" day of
March, 2012 ( "AGREEMENT "), 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 53545 ( "PROPERTY "); and
WHEREAS, the parties now wish to add to the project the CITY's acquisition of two
parcels of real property totaling approximately 7.79 acres of real property immediately to
the south and adjacent to the 84 acre CITY PROPERTY on behalf of SHINE, which two
parcels SHINE has optioned for the amounts and in the manner set forth in a certain
Amendment No. 1 to the Agreement ( "Amendment No. 1"), which is reiterated and
incorporated by reference herein as if fully set forth verbatim; and
WHEREAS, the CITY and SHINE mutually desire to amend the AGREEMENT to include
the two parcels into the overall SHINE TIF Development Project; and
WHEREAS, the Common Council hereby find that the City Administration has negotiated
Amendment No. 1 with SHINE upon the 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; and
WHEREAS, this amendment is permitted by law.
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NOW, THEREFORE, BE IT RESOLVED, by the Common Council of the City of Janesville
that:
1. Each of the above recitals is reiterated and incorporated herein by reference as if
fully set forth verbatim.
2. The above described Amendment No. 1 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; and
5. Funding is projected to be from future borrowing. No funds from sources other
than Promissory Notes or Bonds are, or are expected to be, reserved, allocated on a long-
term basis, or otherwise set aside by the CITY for the project, except as permitted by the
Internal Revenue Code of 1986, as amended. This declaration of official intent is
consistent with the budgetary and financial circumstances of the CITY. The purpose of
this Resolution is to satisfy the "official intent requirement" of Treasury Regulation Section
1.150 -2 as amended or renumbered.
BE IT FURTHER RESOLVED, THAT THE City Manager, and /or his designee(s), on
behalf of the CITY, 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 amendment, 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: December 9, 2013 Motion by: Kealy
Second by: Liebert
APPROVED: . Councilmember Aye Nay Pass Absent
Farrell X
Mark A. Freitag, ity Manager Fitzgerald X
Kealy X
ATTE T: / Liebert X
„e, Marklein X
Je Ann Wulf, City Clerk- Treasurer Severson X
Voskuil X
APPROVED AS TO FORM:
Wald Klimc k, City Attorney
Proposed by: City Administration
Prepared by: City Attorney
J:Wttorney \Word \Shared \SHINE Amendment 1 Resolution Authorization.doc
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