2004-98
Resolution 2004 - 98
A Resolution Approving an Offer to Purchase a 226-acre Parcel of Land Located at the
Southwest Corner of Beloit Ave. and STH 11 (Avalon Rd.) from Arthur T. Donaldson
for a Purchase Price of $3,607,050 in TIF No. 22 Funds
WHEREAS, WHEREAS, the City of Janesville desires to purchase approximately Two Hundred
Twenty-Six (226) acres of land from Arthur T. Donaldson, legally described in the attached Offer
To Purchase Agreement a copy of which is attached hereto, and incorporated herein; and
WHEREAS, the under the terms of the Offer to Purchase the City of Janesville will purchase
approximately Two Hundred Twenty-Six (226) acres of land for a purchase price of Three
Million Six Hundred Seven Thousand and Fifty Dollars ($3,607,050) with the exact purchase
price determined on the actual number of acres to be conveyed as determined by a plat of survey;
and
WHEREAS, the Common Council of the City of Janesville has previously adopted Resolution
No. 2004-89 approving Amendment No. 1 to the Project Plan for Tax Increment District No. 22
for the purpose of expanding the industrial park to include the Two Hundred Twenty-Six (226)
acre Donaldson property; and
WHEREAS, the City of Janesville is authorized and empowered to purchase such property and to
enter into such Offer to Purchase Agreement, pursuant to Wisconsin Statutes Sections 62.22(l)
and (lm) and 66.1101; and
WHEREAS, such purchase of the 226-acre industrial property would benefit the City of
Janesville and is in the best interests of the City and its residents;
NOW, THEREFORE, BE IT RESOLVED, by the Common Council ofthe City of Janesville,
that it hereby approves the attached Offer to Purchase approximately Two Hundred Twenty-Six
(226) acres of land from Arthur T. Donaldson, and authorizes the City Manager acquire the Two
Hundred Twenty-Six (226) acres of land at the negotiated purchase price of$3,607,050 (as
adjusted for the exact acreage to be conveyed) and that the funds for said purchase shall come
from TIF No. 22;
BE IT FURTHER RESOLVED, by the Common Council of the City of Janesville that the City
Manager is authorized, from time-to-time, to make such other modifications and amendments to
the terms and conditions of the Offer To Purchase, and to negotiate, draft, enter into and take, on
behalf of the City of Janesville, such additional documents, agreements, transactions, and actions
that the City Manager determines necessary or desirable to effectuate this property acquisition
and intent of this Resolution.
ADOPTED:
October 25, 2004
Motion by: Addie
Second by: Williams
Councilmember Aye Nay Pass Absent
Wellnitz, Tim X
Brien X
Williams X
Wellnitz, Tom X
Steeber X
DeGarmo X
Addie X
APPROVED:
ATTEST:
APPROVED AS TO FORM:
tJ/L./ (/9/
City Attorney
Proposed by: City Manager
Prepared by: Economic Development Director