2024-2194 RESOLUTION NO. 2024-2194
A resolution authorizing the City Manager to proceed with the sale of property
located at 4306 Capital Circle (Parcel No. 0233300023) to Capital Circle II Corp
WHEREAS, the City of Janesville, a Wisconsin Municipal Corporation (hereinafter the "CITY"),
is the owner of record title to the property at 4306 Capital Circle, Tax Parcel No. 0233300023,
City of Janesville, County of Rock, State of Wisconsin, (hereinafter the "PROPERTY");
WHEREAS, the property consists of approximately 10.92 acres of land located at 4306 Capital
Circle, and became a parcel within Tax Incremental Finance District 32 in 2014 through the First
Boundary Amendment of the TID 32 Project Plans; and
WHEREAS, the City of Janesville has negotiated an agreement to sell a 1.21-acre portion to
Capital Circle II Corp; and
WHEREAS, the City of Janesville has negotiated an agreement to sell the parcel to Capital
Circle II Corp for Forty-Six Thousand and 00/100 Dollars ($46,000.00) plus any other associated
conveyance and closing fees; and
WHEREAS, the parcel will be designated as an Outlot adjacent to the privately held land to the
south to allow for an expansion of the transport and logistical vehicle area for the Upper Lakes
Foods distribution facility; and
WHEREAS, the 1.21-acre will be designated as a separate outlot as is necessary to maintain
compliance with State statutory requirements related to Tax Incremental District (TID) of the
recently created TID 39, and
WHEREAS, the Common Council of the City of Janesville declared this property to be suitable
for industrial development in the TID 32 Project Plans within the meaning of Section 66.1101,
Wisconsin State Statutes, and will remain zoned for industrial purposes for the life of the District.
The proposed transaction is to the benefit and best interest of the citizens and the City of
Janesville.
NOW THEREFORE BE IT RESOLVED BY THE COMMON COUNCIL of the City of Janesville
that it hereby authorizes and directs the City Manager and the City Clerk to execute on behalf of
the City of Janesville, the sale of such property; and to negotiate and execute such documents,
papers and forms as may from time to time be necessary and/or desirable to effectuate such
transaction and the intent of this resolution as the City Manager may decide; and
BE IT FURTHER RESOLVED that the City Manager is hereby authorized to take whatever
other actions or to make whatever other changes that may be necessary to effectuate this land
transaction.
Motion by:Consent
ADOPTED: February 26, 2024 Second by: Consent
Councilmember Aye Nay Pass Absent
APPROVED: Benson X
2— Burdick X
ahner tFen zr:oz»i_s:o_.;s^ Jackson X
Kevin M. Lahner, City Manager Marshick X
Miller X
ATTEST: Neeno X
Williams X
Lorena Rae Stottler, City Clerk-Treasurer
APPROVED AS TO FORM:
Wald Klimczyk, City Attorney
Proposed by: Economic Development Department
Prepared by: Economic Development Department