2005-136
RESOLUTION 2005 -136
A RESOLUTION APPROVING AMENDMENT NO.1 TO THE TIF DEVELOPMENT
AGREEMENT WITH BLISS COMMUNCIATIONS, INe. AND EXTENDING AN
OPTION TO PURCHASE AN 8.0 ACRE INDUSTRIAL SITE WITHIN TIF 14
WHEREAS, the Common Council has authorized the use of Tax Increment Financing
Districts and TIF Development agreements when the Council adopted amended Council
Policy Statement No. 61 (Industrial Development Policy) on the 13th day of June, 1994; and,
WHEREAS, the Common Council of the City of J anesville lawfully created Tax Increment
Finance District (TIF) No. 14 on the 30th day of January 1995, which TIF District was duly
reviewed and approved by all necessary boards and commissions; and,
WHEREAS, Bliss Communications, Inc., hereinafter the OPTIONEE, desires to extend an
Option to Purchase an 8.0 acre industrial site in TIF No. 14 and to construct a 40,000 sf
manufacturing facility on Wuthering Hills Drive, thereby increasing the value of said real
and personal property, adding to the City of J anesville's tax base, and otherwise benefiting
the City and the community; and,
WHEREAS, in order to facilitate the planned industrial expansion, the OPTIONEE and the
CITY have negotiated Amendment No.1 to the TIP Development Agreement (hereinafter
the "Amendment No.1") that is consistent with the goals ofTIF No. 14; and,
WHEREAS, said Amendment No.1, which is attached hereto and incorporated herein by
reference, sets forth the terms and conditions of an option to purchase an 8.0 acre industrial
site and such planned development, and provides for the OPTIONEE's full repayment of the
City's TIP development costs in a manner and within a time allowed by Wisconsin law; and
WHEREAS, the Plan Commission reviewed the purchase and sale of industrial properties
within TIF No. 14 at the time this TIP district was created and found such purchase and sale
to be consistent with City plans, but did not comment on the financial aspects of any specific
transaction; and
WHEREAS, the Common Council of the City of J anesville finds that the approval of said
Amendment No. 1 to the TIF Development Agreement, the granting of an option to purchase
the 8.0 acre industrial site, and the planned 40,000 sf industrial project within TIF No. 14 are
in the best interest of and benefit to the City, its citizens, and the overall community;
Resolution No. 2005-136
Page 2
NOW, THEREFORE, BE IT RESOLVED, by the Common Council of the City of Janesville
that it hereby approves:
1. The attached Amendment No. 1 to the TIF Development Agreement with
Bliss Communications, Inc. and
2. The granting of an Option to Purchase an 8.0 acre industrial site to Bliss
Communications, Inc. according to the terms and conditions set forth said
Amendment No.1 and the original TIF Development Agreement.
BE IT FUR THER RESOLVED, that the City Manager, on behalf ofthe City of
Janesville, is hereby authorized to negotiate, draft, modify, review, and file all such
other documents, papers, and agreements, to take whatever other actions, and to
make whatever changes and amendments to Amendment No.1 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.
Motion by: DeGarmo
Second by: Williams
Councilmember Aye Nay Pass Absent
Wellnitz, Tim X
Brien X
Williams y
Wellnitz, Tom X
Steeber X
DeGarmo X
Addie y
ADOPTED: February 14, 2005
APPROVED:
/¿/{^-- Y'~ ..Æ.
Steven E. Sheiffer, City Ma~ger
ATTEST:
APPROVED AS TO FORM:
!It/#¥f
City Attorney
Proposed by: City Manager
Prepared by: Dir. of Economic Development
OFFICE Of C.'TY.. A~
A,r'
DATE I.;:). #..5 / ~
'- ; OF JANESVIllE
-'