2015-1192 Resolution No. 2015 -1192
A Resolution Approving a TIF Development Agreement with Gallina Holdings
LLC. fora 40,000 square foot expansion of an existing industrial production
facility within Janesville Tax Incremental Financing District No. 32
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 Janesville Common Council have authorized the use of Tax
Incremental Financing Districts (TIDS) for industrial site development and TIF
development agreements to facilitate the manufacturing, industrial, and overall
economic benefit of the City of Janesville (CoJ) when they adopted Council Policy
Statement No. 61 (Economic Development Policy) in 1994; and,
WHEREAS, the Common Council of the CoJ created Tax Incremental Financing District
No. 32 to stimulate projects industrial development projects in the City's East Side
Industrial Park; and
WHEREAS, Gallina Holdings, LLC and the CoJ have negotiated a certain TIF
Development Agreement which, in major part, calls for the CoJ to loan to Gallina
Holdings a lump sum in the aggregate amount of Two Hundred Fifty Three Thousand
Nine Hundred Ninety Two and 00/100 Dollars ($253,992.00) for a 40,000 square foot
expansion of an existing industrial production facility located at 4335 Capital Circle, by
December 31, 2015, which property is zoned for industrial manufacturing; and
WHEREAS, the Common Council of the CoJ hereby find that the approval of this
particular negotiated TIF Development Agreement with Gallina Holdings, LLC, to be in
the best interest and of benefit to the CoJ, its citizens, residents, taxpayers, and the
overall community;
NOW, THEREFORE, BE IT RESOLVED, by the Common Council of the City of
Janesville that the Administration's negotiated TIF Development Agreement with Gallina
Holdings LLC, and the TIF development loan described above are hereby approved and
authorized, according to the terms and conditions set forth in the specific TIF
Development Agreement, and
BE IT FURTHER RESOLVED, that the City Manager, on behalf of the City of Janesville,
and those he authorizes on his behalf is /are hereby authorized to negotiate, draft,
modify, amend, review, enter into, and file all such other documents, papers, and
agreements, take whatever other actions, and to make and enter into whatever other
Resolution No. 2015 —1192
Page 2
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: April 27, 2015 Motion by: Liebert
Second by: Tidwell
APPROVED: Councilmember Aye Nay Pass Absent
_Z ia4L-- Bobzien X
Deupree X
Mark r eitag, City Manage F arrell X
Gruber X
ATTE T: Liebert X
Marklein X
Tidwell X
David T. Godek
Deputy Clerk Treasurer
APPROVED AS TO FORM:
Wald Klimc , City Attorney
Proposed by: Economic Development Division
Prepared by: Economic Development Division