2022-2018 Resolution No. 2022-2018
A resolution approving a TIF Development Agreement with BEN DUCKART
THOMPSON, LLC D/B/A THOMPSON DEVELOPMENT GROUP for the
rehabilitation of commercial property located at 109 East Milwaukee Street and
located within Janesville's Tax Incremental 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 2020; and,
WHEREAS, the CoJ recognizes the importance of reactivating vacant commercial space
in Janesville's downtown; and
WHEREAS, BEN DUCKART THOMPSON, LLC D/B/A THOMPSON DEVELOPMENT
GROUP (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 Sixty-Four Thousand Nine Hundred Forty-Seven and 00/100
Dollars ($164,947.00) to be used for further development of the property at 109 East
Milwaukee Street; and
WHEREAS, the Common Council of the CoJ hereby find the approval of this particular
negotiated TIF Development Agreement with BEN DUCKART THOMPSON, LLC D/B/A
THOMPSON DEVELOPMENT GROUP 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 the BEN
DUCKART THOMPSON, LLC D/B/A THOMPSON DEVELOPMENT GROUP 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. 2022-2018
Page 2
ADOPTED: May 23, 2022 Motion by: Williams
Second by: Jackson
APPROVED: Councilmember Aye Nay Pass Absent
Benson X
!llyyyCCG Burdick X
Mark A. Fr itag, City Manager Jackson X
Marklein X
ATTEST: Marshick X
Miller X
—Itf^7*
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