2004-89
Resolution No. 2004-89
RESOLUTION APPROVING AMENDMENT NO.1 TO THE PROJECT PLAN AND
AMENDING THE BOUNDARIES OF TIF NO. 22. WITHIN
THE CITY OF JANESVILLE, ROCK COUNTY, WISCONSIN
WHEREAS, the City of Janesville adopted Resolution No. 99-2455 on September 27, 1999,
creating City of Janesville Tax Increment Finance District No. 22 in accordance with the
provisions of Wisconsin Statues ss 66.1105, and
WHEREAS, the City of Janesville has prepared Amendment No.1 to the Project Plan for TIP
No. 22 in order to revise the project budget and to amend the TIP No. 22 boundary to include an
additional 226 acres of industrial land,
WHEREAS, the Plan Commission has held a public hearing on the proposed Amendment No. 1
to Tax Increment District No. 22 and the proposed new boundaries thereof, and recommended
the approval of Amendment No.1 to the Project Plan for Tax Increment District No. 22 and the
modification to the boundaries of the Amended TIP district; and
WHEREAS, the Chief Executive Officer of the local school district, Rock County Board,
Blackhawk Technical College, and the other entities having the power to levy taxes on the
property located within the proposed Tax Increment District No. 22 have been notified of the
proposed Amendment to the Project Plan for TIP No. 22, pursuant to Section 66.1105 (4) (a) and
(e), Wisconsin State Statutes; and
WHEREAS, TIP No. 22 as amended, is declared to be an "industrial TIP district" where more
than 51 % of the land is currently zoned M -1 Industrial and has been found suitable for industrial
development within the meaning of Section 66.1101, Wisconsin State Statutes and will remain
zoned for industrial purposes for the 23 year life of the TIP District; and
WHEREAS, the proposed boundary change to TIP No. 22 does include territory recently
annexed from the Town of Rock, and the City of Janesville pledges to pay the Town of Rock an
amount equal to the property taxes levied by the Township on the annexed territory for each of
the next five (5) years; and
WHEREAS, the project costs directly serve to promote industrial development, consistent with
the purpose for which the TIP District is created, and the improvement of such areas for
industrial projects will significantly enhance the value of all property within the TIP District; and
Resolution 2004 - 89
Page 2
WHEREAS, the equalized value of taxable property within the amended boundaries of TIP
No. 22 plus the value increment of all existing J anesville's TIP Districts does not exceed twelve
percent (12%) of the total equalized value of property within the City ofJanesville; and
WHEREAS, Amendment No.1 to the Project Plan for Tax Increment District No. 22 is
economically feasible and has been found to be in accordance with the City's General
Development Plans, Zoning Ordinance, and other relevant policies and that implementation of
the improvements as set forth in Amended TIP No. 22 is in the best interest of the City of
J anesville and for the benefit of its residents.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of Janesville that
it hereby approves Amendment No.1 to the Project Plan for City of Janesville Tax Increment
Finance District No. 22 and amends the boundaries of Tax Increment District No. 22 in the City
of Janesville as described on the attached map and Amended Project Plan for TIP District No. 22.
ADOPTED: October 25, 2004
Motion by: Williams
Second by: Brien
Councilmember Aye Nay Pass Absent
Wellnitz, Tim X
Brien X
Williams X
Wellnitz, Tom X
Steeber X
DeGarmo X
Addie X
APPROVED:
.Lc.r ~~
Steven E. Sheiffer, City anager
ATTEST:
AP~.. R1ED AS TO:ç:
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Assistant City Attorney
Proposed by: City Manager
Prepared by: Economic Development Director