2019-1639 RESOLUTION NO. 2019-1639
A resolution extending the life of Tax Increment Finance District No. 21 for an additional
year for housing purposes
WHEREAS, the Janesville Comprehensive Plan, the Community Development Block Grant &
Rock County HOME Consortium Five-Year Consolidated Plan, and City Five-Year Strategic
Plan all include policies and initiatives to promote high quality and affordable housing for all
members of the community; and
WHEREAS, the City continues to implement policies and programs to further the goals and
objectives of these plans; and
WHEREAS, implementation of these policies and programs requires the allocation of various
forms of revenue to fund these housing programs; and
WHEREAS, the City created Tax Increment Financing District No. 21 on June 28, 1999 and
amended the District boundaries and Project Plan on July 22, 2013; and
WHEREAS, the City has completed implementation of the Project Plan and has reserved
adequate funding to pay remaining debt incurred for implementation of the Project Plan and
project costs; and
WHEREAS, State of Wisconsin Statutes require that a TID be terminated after all project costs
have been paid off, except that under Wisconsin Statutes, Section 66.1105(6)(g), a TID may be
extended for up to one (1) year to utilize the last year of tax increment to promote affordable
housing and to improve the City's housing stock.
NOW THEREFORE BE IT RESOLVED BY THE COMMON COUNCIL OF THE CITY OF
JANESVILLE that providing affordable housing and promoting improvement of the City's
housing stock is necessary to maintain and improve the community by increasing efforts to
provide quality, affordable housing.
BE IT FURTHER RESOLVED that funding City of Janesville programs to promote affordable
housing, rehabilitation of existing housing stock, promoting home ownership and new
construction benefits all residents by providing additional, substantially improved housing for all
community members and increases overall property values within the community.
BE IT FURTHER RESOLVED that tax increment is available in Tax Increment Finance District
No. 21 to fund existing and/or additional housing programs and to fund expenditures as
permitted under Wisconsin Statues 66.1105(6)(g)3 and that the City of Janesville will extend the
life of Tax Increment Finance District No. 21 for 12 months in order to utilize the final year's
increment to fund programs to promote affordable housing and rehabilitation of existing housing.
Resolution No. 2019-1639
Page 2
ADOPTED: April 8, 2019 Motion by: Gruber
/ Second by: Conley
APPROVED: !',`wu / Councilmember Aye Nay Pass Absent
Conley X
Mark A. Freitag, ity Manager Farrell X
Gruber X
ATTES''- /� / Jorgensen X
Marklein X
Day.. T. Godek, City Clerk-Treasurer Williams X
Wolfe X
APPROVED AS TO FORM:
Wald Klimczyk, City Attorney
Proposed by: Economic Development Office
Prepared by: Economic Development Office