2016-1377 Resolution No. 2016-1377
A Resolution Approving a TIF Development Agreement with Plastic Industries
Inc., for the creation of jobs within an existing building located at 2929 Venture
Drive, located within City of Janesville Tax Incremental Financing District No. 22
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 further modified as
Council Policy Statement No. 61A (Industrial Economic Development Policy); and,
WHEREAS, the Common Council of the CoJ created Tax Incremental Financing District
No. 22 to stimulate projects industrial development projects along the City's Beloit
Avenue Corridor; and
WHEREAS, Plastic Industries Inc., and the CoJ have negotiated a certain TIF
Development Agreement which, in major part, calls for the CoJ to provide a forgivable
loan to Plastic Industries Inc., in a lump sum in the aggregate amount of Ninety Three
Thousand Dollars ($93,000) to be used for occupancy within the building and training of
employees; and
WHEREAS, the Common Council of the CoJ hereby find that the approval of this
particular negotiated TIF Jobs Agreement with Plastic Industries Inc., and 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 Jobs Agreement with Plastic
Industries Inc., and the TIF development incentives 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 ether
changes and amendments to the TIF Jobs 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.
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Resolution No. 2016 — 1377
Page 2
ADOPTED: December 12, 2016 Motion by: Williams
_Second by: Jorgensen
APPROVED,. Councilmember Aye Nay Pass Absent
Deupree
X
C Gruber X
Mark A . 'reitag, City Manager Jorgensen X
Liebert X
Ai1d
Marklein X
Tidwell X
Williams X
a , • '. Godek, City Cl-rk-Treasurer
APPROVED AS TO FORM:
eld.4)//9)/1
Wald Klimczyk, City Attorney
Proposed by: Economic Development Office
Prepared by: Economic Development Office and
City Attorney