2018-1545 Resolution No. 2018-1545
A resolution approving a TIF Development Agreement with Badger Property
Investments, LLC for the construction of a 150,000 square foot industrial facility
on property located within Janesville's Tax Incremental Financing District No. 35
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 Districts (TID) for industrial site development and Tax Incremental
Financing (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) in 2016;
and,
WHEREAS, the Common Council of the CoJ created TID No. 35 to stimulate industrial
development projects in the CoJ's South Side Industrial Park; and
WHEREAS, Badger Property Investments, LLC (developer) and the CoJ have
negotiated a certain TIF Development Agreement which, in major part, calls for the CoJ
to provide the developer a 16-acre property located at 101 Innovation Drive for $1.00
and a forgivable loan to the developer in a lump sum in the aggregate amount of Six
Hundred Twenty Five Thousand Dollars ($625,000) to be used for development of the
property; and
WHEREAS, the Common Council of the CoJ hereby find the approval of this particular
negotiated TIF Development Agreement with Badger Property Investments, LLC 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 Badger
Property Investments, LLC 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 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.
Resolution No. 2018 — 1545
Page 2
ADOPTED: May 29, 2018 Motion by: Gruber
Second by: Williams
APPROVED: Councilmember Aye Nay Pass Absent
e Conley X
�/(,,, Farrell X
Mark A. F itag, City Manager Gruber X
Jorgensen X
ATT . Marklein X
Williams X
%�____ _ __ i Wolfe X
•avid T. Godek, CI y 'erk-Treasurer
APPROVED AS TO FORM:
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Wald Klimczyk, City Attorney
Proposed by: Economic Development Office
Prepared by: Economic Development Office and
City Attorney