2000-73Resolution No. 2000 - 73
RESOLUTION APPROVING AMENDMENT No. 1 TO THE PROJECT PLAN FOR
TAX INCREMENT FINANCE DISTRICT NO. XV
WITHIN THE CITY OF JANESVILLE, ROCK COUNTY, WISCONSIN
WHEREAS, on March 27, 1995 the Common Council of the City of Janesville adopted a Project
Plan and created Tax Increment Finance District No. XV in accordance with the provisions of
Wisconsin Statues ss 66.46, a copy of said Project Plan and proposed TIF No. XV boundary are
attached and herein incorporated to this Resolution; and
WHEREAS, Wisconsin Statutes Section 66.46 (4)(h) provides for the amendment of TIF Project
Plans following notice to all overlying jurisdictions, public hearing, and review and
recommendation by the City Plan Commission; and
WHEREAS, the Plan Commission has held a public hearing on Amendment No. 1 to the Project
Plan of Tax Increment District No. XV, the proposed boundaries thereof and recommended its
approval; and
WHEREAS, the Chief Executive Officer of the Janesville School District, Rock County Board,
Blackhawk Technical College, and the other entities having the power to levy taxes on the
property located within the proposed Tax Increment District No. XV have been notified pursuant
to Section 66.46 (4) (a) and (e), Wisconsin State Statutes; and
WHEREAS, all of the land within TIF District No. XV, as amended, is currently zoned either
M-1 Industrial or M-2 Industrial and has been found suitable for industrial development within the
meaning of Section 66.52, Wisconsin State Statutes and will remain zoned for industrial purposes
for the 23 year 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 is created, and the improvement of such areas for industrial
projects will significantly enhance the value of all property within the TIF District; and
WHEREAS, the aggregate equalized value of taxable property within all of Janesville's TIF
Districts does not exceed seven percent (7%) of the total equalized value of property within the
City of Janesville; and
WHEREAS, the amended Project Plan for Tax Increment District No. XV is economically
feasible and has been found to be in accordance with the City's Master Plans, Zoning Ordinance,
and other relevant uses and that this project is in the best interest of the City of Janesville and for
the benefit of its residents.
Resolution 2000 - 73
Page 2
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of Janesville that
it hereby approves Amendment No. 1 to the Project Plan for City of Janesville Tax Increment
Finance District No. XV and refers the Amended Project Plan to a Joint Review Board for review
and approval according to Wisconsin Statutes.
ADOPTED: September 11, 2000
APPROVED:
Steven E. Sheiffer, City Manager
ATTEST:
J~Ann Wulf, City Clerk-Treasure~
MOTION BY: 0 ' Leary
SECOND BY: DeGarmo
COUNCILMEMBER AYE NAY PASS ABSENT
SCHNEIDER X
WILLIAMS X
NOLL X
BRIEN X
MURPHY X
O'LEARY X
DEGARMO X
APPROVED AS TO FORM: ~ ~. '3~O O
City Attorney
Proposed by: City Manager
Prepared by: Dir. Of Economic Development