2019-1664 Resolution No. 2019-1664
RESOLUTION APPROVING AMENDMENT NO. 3 TO THE PROJECT PLAN FOR
TAX INCREMENT FINANCE DISTRICT NO. 35
WITHIN THE CITY OF JANESVILLE, ROCK COUNTY, WISCONSIN
WHEREAS, the Common Council of the City of Janesville adopted Resolution No.
2011-816 on August 22, 2011 creating the City of Janesville Tax Increment Finance
District (TID) No. 35 in accordance with the provisions of Wisconsin Statutes Section
66.1105 and then adopted Resolution No. 2012-875 on February 13, 2013 amending
the Project Plan and TIF boundary for TID 35; and then adopted Resolution No. 2014-
1073 on April 28, 2014 amending the Project Plan and a second time; and
WHEREAS, the City of Janesville Administration is now proposing Amendment No. 3 to
the Project Plan for TID No. 35 revising the project budget and amending the TID No.
35 boundary to include an additional and adjacent 21 acres of industrial land; and
WHEREAS, the Janesville Plan Commission has held a public hearing on proposed
Amendment No. 3 to the Project Plan of TID No. 35 and the proposed new boundaries
of the Amended TID on June 3, 2019 and found the proposed boundary and Project
Plan amendments to be acceptable and consistent with the long range plans of the City
and its best interests; and
WHEREAS, the Chief Executive Office of the Janesville School District, Rock County
Board, Blackhawk Technical College, and other entities having the power to levy taxes
upon the property located within the proposed TID No. 35 have been notified of the
proposed Amendment to the Project Plan for TID No. 35, pursuant to Section 66.1105
(4)(a) and (e), Wisconsin State Statutes; and
WHEREAS, TID No. 35, as amended, is declared to be an "industrial TIF 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 life of the TID; and
WHEREAS, the project costs directly serve to promote industrial development,
consistent with the purpose for which the TID was created, and the improvement of the
proposed additional areas for industrial projects will significantly enhance the value of all
property within the City of Janesville; and
WHEREAS, the equalized value of taxable property within the amended boundaries of
TID No. 35 plus the value increment of all existing Janesville TIDs does not exceed
twelve percent (12%) of the total equalized value of property within the City of
Janesville; and
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TIF 35 Amendment No. 3
Resolution No. 2019-1664
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WHEREAS, Amendment No. 3 to the Project Plan for TID No. 35 contemplates the
provision of development incentives according to the provisions of Section 66.1105
(2)(f)(2)(d), and
WHEREAS, the amended Project Plan for TID No. 35 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 the Amended TID No. 35 Project Plan is in the best interest of the City of
Janesville and for the benefit of its residents and taxpayers.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of
Janesville that they hereby approve Amendment No. 3 to the Project Plan for City of
Janesville Tax Increment Finance District No. 35, and refer Amendment No. 3 to a Joint
Review Board for review and approval according to Wisconsin Statutes. If approved by
the Joint Review Board, the effective date of the amendment will be January 1, 2019.
ADOPTED: June 10, 2019 Motion by: Williams
Second by: Gruber
APPROVED: Councilmember Aye Nay Pass Absent
Benson X
Conley X
Mark A. reitag, City Manager Farrell X
Gruber X
ATT T: Marklein X
_� Williams X
Wolfe X
avid T. Godek, City Clerk-Treasurer
APPROVED AS TO FORM:
-41//W
Wald Klimczyk, City Attorney
Proposed by: Economic Development Office
Prepared by: Economic Development Office
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