2022-2033 File Resolution No. 2022-2033
A resolution approving a TIF Development Agreement with GEA MECHANICAL
EQUIPMENT US, INC. for the creation of 74 full-time living wage equivalent jobs
located at 3901 Enterprise Drive and located within Janesville's Tax Incremental
Financing District No. 39
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 industrial site development and Tax Incremental Financing (TIF)
development agreements to facilitate manufacturing, industrial, and 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. 61A (Industrial Economic Development Policy) in 2016; and,
WHEREAS, the Common Council of the CoJ created TID No. 39 to stimulate industrial
development projects in the City of Janesville; and,
WHEREAS, GEA MECHANICAL EQUIPMENT US, INC. 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 incentive not to exceed Three Hundred Thousand One Hundred Eleven
and 00/100 Dollars ($300,111.00) as an incentive to attract, train, equip and maintain a
diverse and talented workforce on the property; and
WHEREAS, the Common Council of the CoJ hereby find that the approval of this project,
these incentives, and this particular negotiated TIF Development Agreement with GEA
MECHANICAL EQUIPMENT US, INC. 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 GEA
MECHANICAL EQUIPMENT US, INC. 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 Common Council hereby authorizes the City
Manager and those he authorizes on his behalf to take whatever additional reasonably
necessary and/or desirable actions the City Manager determines appropriate to effectuate
the project and the intent of this authorizing resolution.
Resolution No. 2022-2033
Page 2
ADOPTED: July 11, 2022 Motion by: Williams
Second by: Benson
APPROVED: Councilmember Aye Nay Pass Absent
Benson X
Burdick X
rk A. Freitag, City Manager Jackson X
Ryan P. McCue, Deputy City Manager Marklein X
Marshick X
ATTEST: Miller X
Williams X
1/ir
Lorena Rae Sto tier, City Clerk-Treasurer
APPROVED AS TO FORM:
Wald Klimcz k, City Attorney
Proposed by: Economic Development Office
Prepared by: Economic Development Office
and City Attorney