2003-390Resolution No. 2003 - 390
RESOLUTION APPROVING THE PROJECT PLAN AND CREATING TAX
INCREMENT FINANCE DISTRICT No. 26 WITHIN THE CITY OF JANESVILLE
ROCK COUNTY, WISCONSIN
WHEREAS, the City of Janesville has prepared a Project Plan and proposed a boundary for the
creation of City of Janesville Tax Increment Finance District No. 26 in accordance with the
provisions of Wisconsin Statues ss 66.1105, a copy of said Project Plan and proposed TIF No. 26
boundary are attached and herein incorporated to this Resolution; and
WHEREAS, the Plan Commission has held a public hearing on the proposed creation of Tax
Increment District No. 26 and the proposed boundaries thereof, and recommended the approval
of the Project Plan for Tax Increment District No. 26 and the creation of the new TIF district; and
WHEREAS, the Chief Executive Officer of the local 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. 26 have been notified pursuant
to Section 66.1105 (4) (a) and (e), Wisconsin State Statutes; and
WHEREAS, more than 50% of the land within the proposed TIF District No. 26 is currently
zoned for industrial uses and has been found suitable for industrial development within the
meaning of Section 66.1101, 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 TW 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 Project Plan for Tax Increment District No. 26 is economically feasible and has
been found to be in accordance with the City's General Development Plans, Zoning Ordinance,
and other relevant policies and that this project is in the best interest of the City of Janesville and
for the benefit of its residents.
Resolution 2003 - 390
Page 2
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of Janesville that
it hereby approves the Project Plan for City of Janesville Tax Increment Finance District No. 26
and creates Tax Increment District No. 26 in the City of Janesville as described on the attached
map and Project Plan for TIF District No. 26.
ADOPTED: November 24, 2003
APPROVED:
Steven E. Sheiffer, City Mart~ger'
ATTEST:
JeanS"nh Wulf, City CleriC-Treasurer
APPROVED AS TO FORM:
City Attorney
Proposed by: City Manager
Prepared by: Director of Economic Development
MOTION BY: Steeber
SECOND BY: DeGarmo
COUNCILMEMBE
AYE NAY PASS ABSENT
R
ADDIE X
MURPHY X
DEGARMO X
STEEBER X
WILLIAMS X
BRIEN X
WELLNITZ X