2000-33RESOLUTION 2000 - 33
A RESOLUTION APPROVING A TIF DEVELOPMENT AGREEMENT WITH BLISS
COMMUNCIATIONS, INC. GRANTING AN OPTION TO PURCHASE AN 8.0 ACRE
INDUSTRIAL SITE WITHIN TIF 14
WHEREAS, the Common Council has authorized the use of Tax Increment Financing
Districts and TIF Development agreements when the Council adopted amended Council
Policy Statement No. 61 (Industrial Development Policy) on the 13th day of June, 1994;
and,
WHEREAS, the Common Council of the City of Janesville lawfully created Tax Increment
Finance District (TIF) No. 14 on the 30th day of January 1995, which TIF District was duly
reviewed and approved by all necessary boards and commissions; and,
WHEREAS, Bliss Communications, Inc., hereinafter the OPTIONEE, desires an Option to
Purchase an 8.0 acre industrial site in TIF No. 14 and to construct a 40,000 sf
manufacturing facility on Wuthering Hills Drive, thereby increasing the value of said real
and personal property, adding to the City of Janesville's tax base, and otherwise benefitting
the City and the community; and,
WHEREAS, in order to facilitate the planned industrial expansion, the OPTIONEE and the
CITY have negotiated a TIF Development Agreement (hereinafter the "Agreement") that is
consistent with the goals of TIF No. 14; and,
WHEREAS, said Agreement, which is attached hereto and incorporated herein by reference,
sets tbrth the terms and conditions of an option to purchase an 8.0 acre industrial site and
such planned development, and provides for the OPTIONEE's full repayment of the City's
TIF development costs in a manner and within a time allowed by Wisconsin law; and
WHEREAS, the Plan Commission reviewed the purchase and sale of industrial properties
within TIF No. 14 at the time this TIF district was created and found such purchase and sale
to be consistent with City plans, but did not comment on the financial aspects of any specific
transaction; and
WHEREAS, the Common Council of the City of Janesville finds that the approval of said
TIF Development Agreement, the granting of an option to purchase the 8.0 acre industrial
site, and the planned 40,000 sf industrial prQiect within TIF No. 14 are in the best interest of
and benefit to the City, its citizens, and the overall community;
Resolution No. 2000-33
Page 2
NOW, THEREFORE, BE IT RESOLVED, by the Common Council of the City of
Janesville that it hereby approves:
The attached TIF Development Agreement with Bliss Communications, Inc.
and
The grant of an Option to Purchase an 8.0 acre industrial site to Bliss
Communications, Inc. according to the terms and conditions set forth said
Agreement.
BE IT FURTHER RESOLVED, that the City Manager, on behalf of the City of
Janesville, is hereby authorized to negotiate, draft, modify, review, and file all such
other documents, papers, and agreements, to take whatever other actions, and to
make whatever changes and amendments to the TIF Development Agreement and
such other documents and agreements which the City Manager may, from time to
time, deem necessary and/or desirable to effectuate the intent of this Resolution.
ADOPTED: March 13, 2000
APPROVED:
'Ste~ El Sheiffer, ~ity Managc~r
ATTEST:
Jean Ann Wulf,'City Clerk-Treasurer
APPROVED AS TO FORM:
City Attornay
Proposed by:
Prepared by:
City Manager
Economic Development
Department
MOTION BY: Schneider
SECOND BY: 0 ' Leary
COUNCILMEMBER
WESTPHAL
MURPHY
STEHURA
BRIEN
O'LEARY
NOLL
SCHNEIDER