2014-1136 Resolution No. 2014 -1136
A Resolution Approving a TIF Development Agreement with Helgesen Holdings I,
LLC. for the construction of a 120,000 sq. ft. manufacturing and warehousing
facility located within TIF No. 35
WHEREAS, Sections 66.1105 and 66.1101 of Wisconsin Statutes authorize cities to
utilize tax increment financing to promote industry and implement economic
development projects; and
WHEREAS, the Common Council has authorized the use of Tax Increment Financing
Districts for industrial site development and TIF Development agreements when the
Council adopted Council Policy Statement No. 61 (Economic Development Policy) in
1994; and,
WHEREAS, the Common Council of the City of Janesville created Tax Incremental
Finance District No. 35 to stimulate industrial development projects in the City's south
side industrial park; and
WHEREAS, Helgesen Holdings I, LLC. and the City of Janesville have negotiated a TIF
Development Agreement which calls for the City to loan Helgesen Holdings I, LLC.
$844,608.00 for the construction of a 120,000 sq. ft. manufacturing and warehousing
facility located at 202 W. Venture Drive, by December 31, 2016; and
WHEREAS, the Common Council of the City of Janesville finds the approval of the TIF
Development Agreement with Helgesen Holdings I, LLC to be in the best interest of and
benefit to the City, its citizens, and the overall community;
NOW, THEREFORE, BE IT RESOLVED, by the Common Council of the City of
Janesville that it hereby approves the TIF Development Agreement with Spinner
Venture LLC and authorizes the loan of $844,608.00 according to the terms and
conditions set forth in the TIF Development Agreement, and
BE IT FURTHER RESOLVED, that the City Manager, on behalf of the City of Janesville,
is hereby authorized to negotiate, draft, modify, amend, 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.
Resolution No. 2014 — 1136
Page 2
ADOPTED: September 22, 2014 Motion by: Kealy
Second by: Marklein
APPROVED: Councilmember Aye Nay Pass Absent
Bobzien X
Farrell X
Mark Freitag, City Manager Fitzgerald X
ATTEST: Kealy X
1 Liebert X
///.6.1r , ��� Marklein X
Je. Ann Wulf, City Clerk- Treasur= Severson X
APPROVED AS TO FORM: t
Wald Klim zyk, City Attorney
Proposed by: Economic Development Department
(RDG)
Prepared by: Economic Development Department
(RDG)