2021-1888 Resolution No. 2021-1888
A resolution approving a TIF Development Agreement with Murton, LLC
for the construction of a 3200 square foot commercial facility located at
313 Wall Street and 22 North High Street and located within Janesville's
Tax Incremental Financing District No. 36
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 has authorized the use of Tax Incremental
Districts (TID) for residential development and Tax Incremental Financing (TIF)
development agreements to facilitate the overall economic benefit of the City of
Janesville (CoJ) when it adopted Council Policy Statement No. 61 (Economic
Development Policy) in 1994 and further modified as Council Policy Statement No. 61B
(Commercial Economic Development Policy) in 2018; and,
WHEREAS, the Common Council of the CoJ created TID No. 36 to stimulate
development projects in the CoJ's downtown; and
WHEREAS, the CoJ recognizes there is a need for commercial and service options in
downtown Janesville and the proposed commercial development will help alleviate this
need; and
WHEREAS, Murton, 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 One Hundred Twenty Thousand Two Hundred
Fifty-Five and 00/100 Dollars $120,255.00), to be used for further development of the
property at 313 Wall Street and 22 N High Street; and
WHEREAS, the Common Council of the CoJ hereby finds the approval of this particular
negotiated TIF Development Agreement with Murton, 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 Murton, 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
Resolution No. 2021-1888
Page 2
documents and agreements, which the City Manager may, from time to time, deem
necessary and/or desirable to effectuate the intent of this Resolution.
ADOPTED: May 10, 2021 Motion by: Marklein
Second by: Benson
APPROVED: Councilmember Aye Nay Pass Absent
AYLBenson X
a
Jackson X
Mark A. Fr itag, City Manager Johnson X
Marklein X
ATTEST: Marshick X
Miller X
Williams X
Dere eise, Interim City Clerk-Treasurer
APPROVED AS TO FORM:
Wald Klimczyk, City Attorney
Proposed by: Economic Development Office
Prepared by: Economic Development Office/City
Attorney