2018-1593 RESOLUTION NO. 2018-1593
A resolution authorizing the City Manager to proceed with the sale of surplus properties
located at 206 N Jackson St, 210 Laurel Ave and 215 N Franklin St.
WHEREAS, the City of Janesville (CoJ) owns the following described parcels:
SMITH & BAILEY'S ADD., LOTS 67 & 68; ALSO S 35' LOT 66 EX NW TRIANGULAR PC FOR
HWY; Also Ex ROW acquired by DOT by Deed Rec 4/28/2006 as Doc 1748436, Rock Co Reg
of Deeds. 0136100215-00216
SMITH & BAILEY'S ADD. PT.LOT 56 BGN.84.18'W.OF SE COR.; N.38.73';W.41.58'TO
W.L.;S.29.26' TO S.L.;E.34.78'TO BGN. JC5603852
SMITH & BAILEY'S ADD. LOT 58 0136100209-00210
WHEREAS, the CoJ acquired the property located at 206 N Jackson in 2006 using TIF 24
funds; and
WHEREAS, the CoJ acquired the property located at 210 Laurel Ave in 1996 using Community
Development Block Grant funds; and
WHEREAS, the CoJ acquired the property located at 215 N Franklin St in 1986 using TIF III
funds; and
WHEREAS, the CoJ has negotiated an agreement to sell the properties to Commonwealth
Holdings, LLC for $1 per parcel to create affordable multi-family housing; and
WHEREAS, the Plan Commission reviewed these transactions prior to recommending the initial
purchase (February 6, 2006, August 5, 1996, and January 27, 1986) with the understanding that
the properties would be used for future redevelopment; and
WHEREAS, these properties were acquired for the purpose of future redevelopment; and,
WHEREAS, in the event that Commonwealth Holdings, Inc. does not obtain either the
Wisconsin Housing and Economic Development Authority (WHEDA) affordable housing tax
credit reservation and the equity investment from an investor, the offer to purchase will become
null and void, of no further force or effect, and not binding upon the CoJ; and
WHEREAS, unencumbered, fee simple title to all three (3) properties will revert to the COJ in
the event that construction on the project does not begin within four (4) months of closing,
unless the parties mutually agree to an extension of additional time; and
WHEREAS, Wis. Stats. §§ 62.22 (1), 62.23 (17)(a), 62.23 (17)(b), 62.11(5), Chapter 32, and
other pertinent Wisconsin Statutes permit the City's acquisition, development, ownership,
protection, improvement, conservation, public use, demolition, disposition, sale, conveyance,
and other disposal of parkland, open space, riverfront properties, blighted properties,
redevelopment, and development properties; and
WHEREAS, the Common Council hereby find the sale to be consistent with City plans, the Tax
Incremental Financing District Number 24 Project Plan, and in the best interest of and benefit to
the City and community.
NOW THEREFORE BE IT RESOLVED BY THE COMMON COUNCIL of the City of Janesville
that it hereby authorizes and directs the City Manager and the City Clerk-Treasurer to execute
on behalf of the City of Janesville, the sale of such property; and to negotiate and execute such
documents, papers and forms as may from time to time be necessary and/or desirable to
effectuate such transaction and the intent of this resolution as the City Manager may decide:
and
BE IT FURTHER RESOLVED that the City Manager is hereby authorized to take whatever
other actions or to make whatever other minor changes that he may determine necessary
and/or beneficial to effectuate this land transaction and/or the intent of the Resolution.
ADOPTED: December 10, 2018 Motion by: Conley
Second by: Gruber
APPROVED: / Councilmember Aye Nay Pass Absent
,, Conley X
(•� Farrell X
Mark A. Fr-itag, City Manager Gruber X
//J Jorgensen X
ATT- ': Marklein X
r24/0ri
�/ Williams
Wolfe X
dtj L� X
-David T. Godek, City Clerk-Treasurer
APPROVED AS TO FORM:
Wald Klimc y City Attorney
Proposed by: Neighborhood and Community
Services
Prepared by: Housing Services Director