2018-1496 •
Resolution No. 2018-1496
A Resolution approving a TIF Development Agreement with Northwoods Holdings
Ill, LLC and United Alloy, Inc. for the construction of a 100,000 square foot
manufacturing facility and creation of jobs on property located within Janesville
Tax Incremental Financing District No. 25
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. 25 to stimulate industrial development projects in the CoJ's Kennedy Road corridor;
and
WHEREAS, Northwoods Holdings III, LLC (developer) and United Alloy, Inc., (tenant
and manufacturer), which are related companies, and the CoJ have negotiated a certain
TIF Development Agreement which, in major part, calls for the CoJ to provide the
developer a 17.98 property located at 4000 Kennedy Road for $1.00, a forgivable loan
to the developer in a lump sum in the aggregate amount of Two Hundred Thirty Four
Thousand Dollars ($234,000) to be used for development of the property and a job
creation incentive of One Hundred Sixty Thousand Dollars ($160,000) also to be used
for the development of the property; and
WHEREAS, the Common Council of the CoJ hereby find that the approval of this
particular negotiated TIF Development Agreement with the related companies of
Northwoods Holdings III, LLC and United Alloy, Inc., 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
Northwoods Holdings III, LLC and United Alloy 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
Resolution No. 2018 — 1496
Page 2
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.
ADOPTED: January 8, 2018 Motion by: Gruber
Second by: Jorgensen
APPROVED: / Councilmember Aye Nay Pass Absent
` Conley X
u/�, Farrell X
Mark A. reitag, City Manager Gruber X
Jorgensen X
ATT s ' ty Marklein X
Williams X
Wolfe X
David T. Godek, City Clerk-Treasurer
APPROVED AS TO FORM:
Wald Klimczyk, City Attorney
Proposed by: Economic Development Office
Prepared by: Economic Development Office and
City Attorney