2014-1073 Resolution No. 2014 -1073
RESOLUTION APPROVING AMENDMENT NO. 2 TO THE PROJECT PLAN FOR
TAX INCREMENT FINANCE DISTRICT NO. 35
WITHIN THE CITY OF JANESVILLE, ROCK COUNTY, WISCONSIN
WHEREAS, the Common Council of the City of Janesville adopted Resolution No.
2011 -816 on August 22, 2011 creating the City of Janesville Tax Increment Finance
District No. 35 in accordance with the provisions of Wisconsin Statutes Section 66.1105
and then adopted Resolution No. 2012 -875 on February 13, 2012 amending the Project
Plan and TIF boundary for TIF 35; and
WHEREAS, the City of Janesville Administration is now proposing Amendment No. 2 to
the Project Plan for TIF No. 35 revising the project budget and amending the TIF No. 35
boundary to include an additional and adjacent 455 acres of industrial land; and
WHEREAS, the Janesville Plan Commission has held a public hearing on proposed
Amendment No. 2 to the Project Plan of Tax Increment District No. 35 and the proposed
new boundaries of the Amended TIF district on April 21, 2014, and found the proposed
boundary and Project Plan amendments to be acceptable and consistent with the long
range plans of the City and its best interests; and
WHEREAS, the Chief Executive Office of the Janesville School District, Rock County
Board, Blackhawk Technical College, and other entities having the power to levy taxes
upon the property located within the proposed Tax Increment District No. 35 have been
notified of the proposed Amendment to the Project Plan for TIF No. 35, pursuant to
Section 66.1105 (4)(a) and (e), Wisconsin State Statutes; and
WHEREAS, Tax Increment Finance District No. 35, as amended, is declared to be an
"industrial TIF district ", where more than 51 % of the land is currently zoned M -1
Industrial and has been found suitable for industrial development within the meaning of
Section 66.1101, Wisconsin State Statutes, and will remain zoned for industrial
purposes for the life of the TIF District; and
WHEREAS, the project costs directly serve to promote industrial development,
consistent with the purpose for which the TIF District was created, and the improvement
of the proposed additional areas for industrial projects will significantly enhance the
value of all property within the City of Janesville; and
WHEREAS, the equalized value of taxable property within the amended boundaries of
TIF No. 35 plus the value increment of all existing Janesville TIF Districts does not
exceed twelve percent (12 %) of the total equalized value of property within the City of
Janesville; and
TIF 35 Amendment No. 2
Resolution No. 2014 -1073
Page 2
WHEREAS, Amendment No. 2 to the Project Plan for TIF No 35 contemplates the
provision of development incentives according to the provisions of Section 66.1105
(2)(f)(2)(d), and
WHEREAS, the amended Project Plan for Tax Increment District No. 35 is economically
feasible and has been found to be in accordance with the City's General Development
Plans, Zoning Ordinance, and other relevant policies; and that implementation of the
Improvements as set forth in the Amended TIF No. 35 Project Plan is in the best interest
of the City of Janesville and for the benefit of its residents and taxpayers.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of
Janesville that they hereby approve Amendment No. 2 to the Project Plan for City of
Janesville Tax Increment Finance District No. 35, and refer Amendment No. 2 to a Joint
Review Board for review and approval according to Wisconsin Statutes. If approved by
the Joint Review Board, the effective date of the amendment will be January 1, 2014.
ADOPTED: April 28, 2014 Motion by: Liebert
Second by: Marklein
APPROVED: Councilmember Aye Nay Pass Absent Bobzien
Farrell X
Mark A. reitag, City Manager / Fitzgerald X
Kealy X
ATT. ' : / / Liebert X
Marklein X
/ Severson X
DAvItz. 6 k., C.:4j Dsj4y t lee f. -i repsaver
APPROVED AS TO FORM:
At 6t(w(294---
City Attorney
Proposed by: Economic Development (ACH)
Prepared by: Economic Development (ACH)