2000-43Resolution 2000 - 43
A Resolution Approving Amendment No. 1 to the Project Plan of
City of Janesville Tax Increment Finance District No. 7
WHEREAS, the City Council adopted Resolution 85-821 on June 24, 1985 creating Tax Incremental
Finance District No. 3 and approving the Project Plan for said district; and
WHEREAS, the City Council adopted Resolution 92-1519 on July 27, 1992 creating Tax Incremental
Finance District No. 7 and approving the Project Plan for said district; and
WHEREAS, Section 66.46 (6)(e), Wisconsin Statutes provides that the City Plan Commission may
amend the project plan of a tax incremental finance district to allocate the positive tax increments
generated by that district to another tax increment finance district for an initial five year period,
provided that both the donor and recipient districts have the same overlying taxing jurisdictions and
both were created prior to October 1, 1995; and
WHEREAS, both City of Janesville Tax Increment Finance Districts No. 3 and No. 7 have the same
overlying taxing jurisdictions and were both created by Council resolution prior to October 1, 1995;
and
WHEREAS, the City of Janesville has prepared Amendment No. 1 to the Project Plan for Tax
Incremental Finance District TIF No. 7 in accordance with the provisions and requirements of
Wisconsin Statutes Section 66.46 (6)(e), a copy of said Amendment No. 1 being attached to this
Resolution and incorporated herein by reference; and
WHEREAS, on May 1, 2000, following a public hearing and required notice to the local governmental
entities having the power to levy taxes on property located within TIF No. 7, the City Plan
Commission adopted Resolution 2000 - 2 approving Amendment No. 1 to the Project Plan for TIF No.
7; and
WHEREAS, said Amendment No. 1 to the Project Plan for TIF No. 7 is to the benefit of the citizens of
the City of Janesville and in the best interests of the City;
Resolution 2000-43
Page 2
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of Janesville that it
hereby finds that Amendment No. 1 to the Project Plan for TIF No. 7 is economically feasible and in
conformance with City plans and policies, and hereby approves said Amendment No. 1.
ADOPTED: May 8, 2000
APPROVED:
Steven E. Sheiffer, C~ty Manger
ATTEST:
Je~Ann wulf, City Clerk-T~e~asUr/t~
APPROVED AS TO FORM:
City Attorney
Proposed by:
Prepared by:
City Manager
Economic Development
Department
MOTION BY: 0 ' Learv
SECOND BY: Williams
COUNCILMEMBER AYE NAY PASS ABSENT
MURPHY X
WILLIAMS X
DE GARMO X
BRIEN X
O'LEARY X
NOLL X
SCHNEIDER X