2023-2121 File Resolution No. 2023-2121
A resolution approving a TIF Development Agreement with Backyard Properties
of Columbia County, LLC for brownfield remediation and development of multi-
family townhomes on property located at 251 Hyatt 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 (TIDs)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. 61 B (Commercial Economic Development Policy)
in 2020; and
WHEREAS, the CoJ recognizes the importance of Brownfield site remediation and
development of vacant, underutilized properties within Janesville's downtown; and
WHEREAS, Backyard Properties of Columbia County, LLC 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 Seven Hundred Fifty Thousand and 00/100
Dollars ($750,000.00) to be used for development of the property at 251 Hyatt Street; and
WHEREAS, the Common Council of the CoJ hereby find the approval of this particular
negotiated TIF Development Agreement with Backyard Properties of Columbia County, 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 Backyard Properties
of Columbia County, 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 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. 2023-2121
Page 2
ADOPTED: May 22, 2023 Motion by: Marshick
Second by: Neeno
APPROVED: Councilmember Aye Nay Pass Absent
Benson X
Burdick X
Jackson X
Kevin M. Lahner, City Manager Marshick X
Miller X
ATTEST: Neeno X
Williams X
GC�
Lorena Rae Stottler, City Clerk-Treasurer
APPROVED AS TO FORM:
Wald Klimczy City Attorney
Proposed by: Economic Development Office
Prepared by: Economic Development Office/City
Attorney