2017-1410 4
Resolution No. 2017-1410
A Resolution Approving a TIF Development Agreement with Upper Lakes Foods,
Inc., for the creation of jobs within a new structure located at 4298 Capital Circle,
located within City of 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. 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. 32 to stimulate industrial development projects in the CoJ's East Racine Street
corridor and the City's East Side Industrial Park; and
WHEREAS, Upper Lakes Foods, 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 Upper Lakes Foods, Inc., One Hundred Ten Thousand and 00/100 Dollars
($110,000.00) 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 Upper Lakes Foods, 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 Upper Lakes
Foods, 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 other
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.
Resolution No. 2017 - 1410
Page 2
ADOPTED: March 27, 2017 Motion by: Gruber
Second by: Marklein
APPROVED: Councilmember Aye Nay Pass Absent
Deupree X
Gruber X
Jorgensen X
M4144
g, City Manager Liebert X
Marklein X
Tidwell X
ATTES Williams X
•
Davi T. Godek, Deputy City Clerk-Treasurer
APPROVED AS TO FORM:
Wald Klimczy , City Attorney
Proposed by: Economic Development Department
Prepared by: Economic Development Department