Loading...
2019-1676 RESOLUTION NO. 2019-1676 RESOLUTION APPROVING AN AMENDMENT TO THE PROJECT PLAN AND BOUNDARIES OF TAX INCREMENTAL DISTRICT NO. 32, CITY OF JANESVILLE, WISCONSIN WHEREAS, the City of Janesville (the "City") has determined that use of Tax Incremental Financing is required to promote development and redevelopment within the City; and WHEREAS, Tax Incremental District No. 32 (the "District") was created by the City on September 22, 2008 as a mixed-use district; and WHEREAS, the City now desires to amend the Project Plan and Boundaries of the District (the "Amendment") in accordance with the provisions of Wisconsin Statutes Section 66.1105 (the "Tax Increment Law"); and WHEREAS, such Amendment will: a. Add territory from the District as permitted under Wisconsin Statutes Section 66.1005(4)(h)2. b. Amend the categories, locations or costs of project costs to be made as permitted under Wisconsin Statutes Section 66.1005(4)(h)1. c. Allow excess revenue to be transferred to Tax Incremental District No. 36 as permitted under Wisconsin Statutes Section 66.1105(6)(f)2.; and WHEREAS, an amended Project Plan for the District has been prepared that includes: a. A statement listing of the kind, number and location of all proposed public works or improvements within the District, or to the extent provided in Wisconsin Statutes Sections 66.1105(2)(f)1.k. and 66.1105(2)(f)1.n., outside of the District; b. An economic feasibility study; c. A detailed list of estimated project costs; d. A description of the methods of financing all estimated project costs and the time when the related costs or monetary obligations are to be incurred; e. A map showing existing uses and conditions of real property in the District; f. A map showing proposed improvements and uses in the District; g. Proposed changes of zoning ordinances, master plan, map, building codes and City ordinances; h. A list of estimated non-project costs; i. A statement of the proposed plan for relocation of any persons to be displaced; j. A statement indicating how the amendment of the District promotes the orderly development of the City; k. An opinion of the City Attorney or of an attorney retained by the City advising that the Project Plan is complete and complies with Wisconsin Statutes Section 66.1105(4)(f).; and WHEREAS, prior to its publication, a copy of the notice of public hearing was sent to the chief executive officers of Rock County, the School District of Janesville, the Blackhawk Technical College District, and any other entities having the power to levy taxes on property located within the District, in accordance with the procedures specified in the Tax Increment Law; and WHEREAS, in accordance with the procedures specified in the Tax Increment Law, the Plan Commission on June 17, 2019 held a public hearing concerning the proposed amendment to the Project Plan and Boundaries of the District, providing interested parties a reasonable opportunity to express their views thereon; and WHEREAS, after said public hearing, the Plan Commission designated the boundaries of the amended district, adopted the Project Plan, and recommended to the Common Council that it amend the Project Plan and Boundaries for the District, and NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of Janesville that: 1. The boundaries of the District named "Tax Incremental District No. 32, City of Janesville", are hereby amended as identified in Exhibit A of this Resolution. 2. The territory being added shall become part of the District effective as of January 1, 2019. 4. The Common Council finds and declares that: (a) Not less than 50% by area of the real property within the District, as amended, is suitable for a combination of industrial, commercial and residential uses, defined as "mixed-use development" within the meaning of Wisconsin Statutes Section 66.1105(2)(cm). (b) Based upon the finding stated in 3.a. above, the District is declared to be, and remains, a mixed-use district based on the identification and classification of the property included within the District. (c) The improvement of such area is likely to enhance significantly the value of substantially all of the other real property in the District. (d) The equalized value of the taxable property within the territory to be added to the District plus the value increment of all other existing tax incremental districts within the City, does not exceed 12% of the total equalized value of taxable property within the City. (e) That for those parcels to be added to the District that were annexed by the City within the three-year period preceding adoption of this Resolution, the City pledges to pay the Town of La Prairie an amount equal to the property taxes the town last levied on the territory for each of the next five years. (f) The City estimates that no more than 35% of the territory within the District will be devoted to retail business at the end of the District's maximum expenditure period, pursuant to Wisconsin Statutes Section 66.1105(5)(b). (g) The project costs relate directly to promoting mixed-use development in the District consistent with the purpose for which the District is created. (h) Lands proposed for newly-platted residential development comprise no more than 35% of the real property area within the District, as amended. (i) Costs related to newly-platted residential development may be incurred based on the proposed development having a density of at least three (3) units per acre as defined in Wisconsin Statutes Section 66.1105(2)(f)3.a. (j) Under the amended Project Plan, excess tax increments in the approximate amount of $10 million will be transferred to the Recipient District. (k) The District and the Recipient District lie within the same overlapping taxing jurisdictions. (I) The District has sufficient revenue to pay for all current Project Costs and has sufficient excess revenue to pay for eligible project costs of the Recipient District. (m) The Recipient District is a district in need of rehabilitation of conservation which qualifies it as an eligible recipient of excess revenue. 4. The Project Plan for "Tax Incremental District No. 32, City of Janesville" (attached as Exhibit B), as amended, is approved, and the City further finds the Project Plan is feasible and in conformity with the master plan of the City. BE IT FURTHER RESOLVED THAT the City Clerk-Treasurer is hereby authorized and directed to apply to the Wisconsin Department of Revenue, in such form as may be prescribed, for a "Determination of Tax Incremental Base", as of January 1, 2019, pursuant to the provisions of Wisconsin Statutes Section 66.1105(5)(b). BE IT FURTHER RESOLVED THAT pursuant to Section 66.1105(5)(f) of the Wisconsin Statutes that the City Assessor is hereby authorized and directed to identify upon the assessment roll returned and examined under Wisconsin Statutes Section 70.45, those parcels of property which are within the District, specifying thereon the name of the said District, and the City Clerk is hereby authorized and directed to make similar notations on the tax roll made under Section 70.65 of the Wisconsin Statutes. ADOPTED: July 8, 2019 Motion by:Williams Second by: Conley APPROVED: Councilmember Aye Nay Pass Absent Benson X Conley X McCue, Deputy City Manager Farrell X Gruber X ATTEST: Marklein X Williams N Wolfee X De Heise, Deputy Clerk-Treasurer APPROVED AS TO FORM: C/7-e7/W Wald Klimczyk, City Attorney Proposed by: City Administration Prepared by: City Administration