2019-1647 Resolution No. 2019-1647
A resolution approving a TIF Development Agreement with 200 Innovation Drive,
LLC for the construction of a 100,000 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, 200 Innovation Drive, 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 200 Innovation Drive for $1.00, the
residential parcel at 123 West State Highway 11 when acquired and available for $1.00
and Forty Thousand Dollars ($40,000) for removal of the structure at 123 West State
Highway 11 all to be used for development of an industrial use the property; and
WHEREAS, the Common Council of the CoJ hereby find the approval of this particular
negotiated TIF Development Agreement with 200 Innovation Drive, 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 200
Innovation Drive, 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. 2019 — 1647
Page 2
ADOPTED: April 22, 2019 Motion by: Wolfe
Second by: Conley
APPROVED: Councilmember Aye Nay Pass Absent
Q Conley X
`Ire/(,`,
Farrell X
Mark A. F eitag, City Manager Gruber X
Marklein X
ATT : : Williams X
Wolfe X
r i Vacant
*avid T. Godek, City lerk-Treasurer
APPROVED AS TO FORM:
Wald Klim zyk, City Attorney
Proposed by: Economic Development Office
Prepared by: Economic Development Office and
City Attorney