2019-1674 Resolution No. 2019-1674
A resolution approving a TIF Development Agreement with TI Janesville II, LLC
for the construction of a 303,000 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, TI Janesville II, LLC (developer) and the CoJ have negotiated a certain TIF
Development Agreement which, in major part, calls for the CoJ to provide a pay-as-you-
go development incentive not to exceed Two Million Four Hundred Forty Five Thousand
Six Hundred Twenty Three and 25/100 Dollars ($2,445,623.25) to be used for further
development of the site with a 303,000 square foot industrial facility; and
WHEREAS, the Common Council of the CoJ hereby find the approval of this particular
negotiated TIF Development Agreement with TI Janesville II, 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 TI
Janesville II, 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 — 1674
Page 2
ADOPTED: June 10, 2019 Motion by: Williams
Second by: Gruber
APPROVED: Councilmember Aye Nay Pass Absent
•
Benson
Conley XX
Mark A. eitag, City Manager / Farrell X
Gruber X
ATT Marklein X
Williams X
Wolfe X
vid T. Godek, City Clerk-Treasurer
APPROVED AS TO FORM:
lia/07/W
Wald Klimczyk, City Attorney
Proposed by: Economic Development Office
Prepared by: Economic Development Office/City
Attorney