2017-1378 Resolution No. 2017- 1378
A Resolution approving a TIF Development Agreement with Wahnfried Holdings
LLC. for the construction of a 12,000 square foot contractor/storage shop located
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. 61A (Industrial Economic Development Policy) in 2016; and,
WHEREAS, the Common Council of the CoJ created Tax Incremental Financing District
No. 32 to stimulate industrial development projects in the CoJ's East Racine Street
corridor and the City's East Side Industrial Park; and
WHEREAS, Wahnfried Holdings, LLC. (WAHNFRIED) and the CoJ have negotiated a
certain TIF Development Agreement which, in major part calls for the CoJ to provide
WAHNFRIED Three (3.00) acres of land for construction of the facility, with a value of
Sixty Six Thousand Two Hundred Eighty Eight and 00/100 Dollars ($66,288.00) to be
used solely for the construction of a Twelve Thousand square foot contractor/storage
shop on property located at 4265 Capital Circle, which area is zoned industrial and
manufacturing; and
WHEREAS, the Common Council of the CoJ hereby find that the approval of this
particular negotiated TIF Development Agreement with WAHNFRIED 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
WAHNFRIED, 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. 2017 — 1378
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: January 9, 2017 Motion by: Marklein
Second by: Gruber
APPROVED: Councilmember Aye Nay Pass Absent
Deupree
X
Gruberer X
Mark A. F eitag, City Manager Jorgensen X
Liebert X
ATT / Marklein
'. Tidwell X
Williams X ,
Davis . Godek, City Clerk-Treasurer
APPROVED AS TO FORM:
Wald Klimc k, City Attorney
Proposed by: Economic Development Office
Prepared by: Economic Development Office and
City Attorney