2021-1959 Resolution No. 2021-1959
A resolution approving a TIF Development Agreement with TID Property LLC and
Duckworth Revocable Trust for the renovation of four residential units located at
303 West Milwaukee 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 have 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 they 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 CoJ recognizes there is a shortage of housing in Janesville and the
proposed additional residential units will help to alleviate this need; and
WHEREAS, the CoJ and ARISE promoted reinvestment of underutilized upper floor spaces
within the downtown; and
WHEREAS, TID Property LLC and Duckworth Revocable Trust (developer) and the CoJ
have negotiated a certain TIF Development Agreement which, in major part, calls for the
CoJ to provide an up-front development incentive not to exceed Two Hundred Twenty
Thousand and 00/100 Dollars ($220,000.00) to be used for further development of the
property at 303 West Milwaukee Street; and
WHEREAS, the Common Council of the CoJ hereby find the approval of this particular
negotiated TIF Development Agreement with TID Property LLC and Duckworth Revocable
Trust 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 TID Property LLC
and Duckworth Revocable Trust 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. 2021-1959
Page 2
ADOPTED: December 13, 2021 Motion by: Marklein
Second by: Marshick
APPROVED: Councilmember Aye Nay Pass Absent
Benson X
Jackson X
Mark A. F eitag, City Manager Johnson X
Marklein X
ATTEST: A Marshick X
Miller X
XX72aig./4&6 Williams X
Lorena Rae Stottler, City Clerk-Treasurer
APPROVED AS TO FORM:
Wald Klimczyk, City Attorney
Proposed by: Economic Development Office
Prepared by: Economic Development Office/City
Attorney