2015-1207 Resolution 2015 -1207
A Resolution Approving a TIF Development Agreement Amendment No. 2 with
United Alloy Inc. for granting first right of refusal over adjoining remnant lands
adjacent to their existing facility in TIF No. 25
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 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. 25 to stimulate industrial development projects in the City's north
side industrial park; and
WHEREAS, United Alloy Inc. (hereinafter "UAI ") and the City have negotiated a TIF
Development Agreement Amendment No. 2 which grants UAI first right of refusal over
adjoining remnant lands both to the north and south of their existing facility within TIF 25
for ten (10) years from the date of the agreement at no cost; and
WHEREAS, the Common Council of the City of Janesville finds the approval of the TIF
Development Agreement Amendment No. 2 with UAI to be in the best interest of and
benefit to the City, its citizens, residents, taxpayers 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 Amendment No. 2
with UAI and authorizes UAI to hold a ten year first right of refusal over adjoining
remnant as according to the terms and conditions set forth in the specific TIF
Development Agreement Amendment, 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 Amendment
No. 2, 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. 2015 —1207
Page 2
ADOPTED: May 26, 2015 Motion by: Marklein
Second by: Gruber
APPROVED: / Councilmember Aye Nay Pass Absent
Bobzien
Deupree X
Mark A Freitag, City Manager Farrell X
Gruber X
ATT - • / Liebert X
�/����� Marklein X
Tidwell X
David T. Godek, Deputy City Clerk- Treasurer
APPROVED AS TO FORM:
/
Wald Klimczyk, City Attorney
Proposed by: Economic Development Division
Prepared by: Economic Development Division