2003-402Resolution 2003 - 402
A Resolution Approving Amendment No. 2 to the Project Plan of
City of Janesville Tax Increment Finance District No. 12
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 94-1811 on September 6, 1994 creating Tax
Incremental Finance District No. 12 and approving the Project Plan for said district; and
WHEREAS, Section 66.1105 (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 a second 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. 12 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. 2 to the Project Plan for Tax
Incremental Finance District T~ No. 12 in accordance with the provisions and requirements of
Wisconsin Statutes Section 66.1105 (6)(e), a copy of said Amendment No. 2 being attached to
this Resolution and incorporated herein by reference; and
WHEREAS, on September 15, 2003, following a public hearing and required notice to the local
governmental entities having the power to levy taxes on property located within TIF No. 12, the
City Plan Commission adopted Resolution 2003 - 4 approving Amendment No. 2 to the Project
Plan for TW No. 12; and
WHEREAS, said Amendment No. 2 to the Project Plan for TIF No. 12 is to the benefit of the
citizens of the City of Janesville and in the best interests of the City;
Resolution 2003- 402
Page 2
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of Janesville that
it hereby finds that Amendment No. 2 to the Project Plan for TIF No. 12 is economically feasible
and in conformance with City plans and policies, and hereby approves said Amendment No. 2.
ADOPTED: September 22, 2003
APPROVED:
S~even E. Sheiffer, City Mal~ager
ATTEST:
n Wulf, City Clerk-Tr-easur~
APPROVED AS TO FORM:
City Attorney
Proposed by: City Manager
Prepared by: Economic Development Director
MOTION BY: Murphy
SECOND BY: Brien
COUNCILMEMBER AYE NAY PASS ABSENT
ADDIE X
MURPHY X
DEGARMO X
STEEBER X
WILLIAMS X
BRIEN X
WELLNITZ X
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