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2024-2206 RESOLUTION NO. 2024-2206 RESOLUTION APPROVING AN AMENDMENT TO THE PROJECT PLAN AND BOUNDARIES OF TAX INCREMENTAL DISTRICT NO. 38, CITY OF JANESVILLE, WISCONSIN WHEREAS,the City of Janesville(the "City") has determined that use of Tax Incremental Financing is required to promote development and redevelopment within the City; and WHEREAS,Tax Incremental District No. 38 (the "District")was created by the City on October 14, 2019; and WHEREAS, the City now desires to amend the Project Plan of the District (the "Amendment") in accordance with the provisions of Wisconsin Statutes Section 66.1105 (the "Tax Increment Law"); and WHEREAS, such Amendment will: a. Add territory from the District as permitted under Wisconsin Statutes Section 66.1105(4)(h)2. b. Amend the categories, locations, or costs of project costs to be made as permitted under Wisconsin Statutes Section 66.1105(4)(h)1. WHEREAS, an amended Project Plan for the District has been prepared that includes: a. A statement listing of the kind, number and location of all proposed public works or improvements within the District, or to the extent provided in Wisconsin Statutes Sections 66.1105(2)(f)1.k. and 66.1105(2)(f)1.n., outside of the District; b. An economic feasibility study; c. A detailed list of estimated project costs; d. A description of the methods of financing all estimated project costs and the time when the related costs or monetary obligations are to be incurred; e. A map showing existing uses and conditions of real property in the District; f. A map showing proposed improvements and uses in the District; g. Proposed changes of zoning ordinances, master plan, map, building codes and City ordinances; h. A list of estimated non-project costs; i. A statement of the proposed plan for relocation of any persons to be displaced; j. A statement indicating how the amendment of the District promotes the orderly development of the City; k. An opinion of the City Attorney or of an attorney retained by the City advising that the Project Plan is complete and complies with Wisconsin Statutes Section 66.1105(4)(f).; and WHEREAS, prior,to its publication, a copy of the notice of public hearing was sent to the chief executive officers of Rock County, the Janesville School District, and the Blackhawk Technical College District, and any other entities having the power to levy taxes on property located within the District, in accordance with the procedures specified in the Tax Increment Law; and WHEREAS, in accordance with the procedures specified in the Tax Increment Law, the Plan Commission,on March 18,2024 held a public hearing concerning the proposed amendment to the Project City of Janesville,Wisconsin TID 38 Amendment Common Council Resolution Plan and boundaries of the District, providing interested parties a reasonable opportunity to express their views thereon; and WHEREAS, after said public hearing, the Plan Commission designated the boundaries of the amended district,adopted the Project Plan,and recommended to the Common Council that it amend the Project Plan and boundaries for the District. NOW,THEREFORE, BE IT RESOLVED by the Common Council of the City of Janesville that: 1. The boundaries of the District named "Tax Incremental District No. 38, City of Janesville", are hereby amended as identified in Exhibit A of this Resolution. 2. The territory being added shall become part of the District effective as of January 1, 2024. 4. The Common Council finds and declares that: (a) Not less than 50% by area of the real property within the District, as amended, is suitable for mixed-use development as defined by Wisconsin Statutes Section 66.1105(2)(cm). (b) Based upon the finding stated in 3.a. above, the District was declared to be, and remains, a mixed-use district based on the identification and classification of the property included within the District. (c) The improvement of such area is likely to enhance significantly the value of substantially all of the other real property in the District. (e) The equalized value of the taxable property within the territory to be added to the District plus the value increment of all other existing tax incremental districts within the City, does not exceed 12%of the total equalized value of taxable property within the City. (f) That there are no parcels to be added to the District that were annexed by the City within the preceding three-year period. (g) The City estimates that less than 35% of the territory within the District will be devoted to retail business at the end of the District's maximum expenditure period, pursuant to Wisconsin Statutes Section 66.1105(5)(b). (g) The project costs relate directly to promoting mixed-use development in the District consistent with the purpose for which the District is created. (g) Lands proposed for newly platted residential development comprise no more than 35%of the real property area within the District, as amended. (h) Costs related to newly-platted residential development may be incurred based on the proposed development having a density of at least three(3) units per acre as defined in Wisconsin Statutes Section 66.1105(2)(f)3.a. City of Janesville,Wisconsin TID 38 Amendment Common Council Resolution 4. The Project Plan for "Tax Incremental District No. 38, City of Janesville" (see Exhibit B), as amended, is approved, and the City further finds the Project Plan is feasible and in conformity with the master plan of the City. BE IT FURTHER RESOLVED THAT the City Clerk is hereby authorized and directed to apply to the Wisconsin Department of Revenue, in such form as may be prescribed, for a "Determination of Tax Incremental Base", as of January 1, 2024, pursuant to the provisions of Wisconsin Statutes Section 66.1105(5)(b). BE IT FURTHER RESOLVED THAT pursuant to Section 66.1105(5)(f) of the Wisconsin Statutes that the City Assessor is hereby authorized and directed to identify upon the assessment roll returned and examined under Wisconsin Statutes Section 70.45,those parcels of property which are within the District, specifying thereon the name of the said District, and the City Clerk is hereby authorized and directed to make similar notations on the tax roll made under Section 70.65 of the Wisconsin Statutes. ADOPTED: April 8, 2024 Motion by: Marshick Second by:Williams APPROVED: Councilmember Aye Nay Pass Absent ,zi „ Benson X Kevin M. Lahner, City Manager Burdick X Jackson X ATTEST: Marshick X Miller X nQ,t1�+ Neeno X Lorena Rae Stottler, City Clerk-Treasurer Williams X APPROVED AS TO FORM: Wald Klimcz City Attorney Proposed by: Economic Development Office Prepared by: Economic Development Office City of Janesville,Wisconsin TID 38 Amendment Common Council Resolution EXHIBIT A- LEGAL BOUNDARY DESCRIPTION OR MAP OF TAX INCREMENTAL DISTRICT NO. 38 CITY OF JANESVILLE [INCLUDED WITHIN PROJECT PLAN] TID 38 - 1st Amendment ♦. �" .. PARCEL >` Jr :_' NUMBER t , I F.� .� 01 24 3000 30 • 0219100006 �.<, .' � �» � -A fie Its�.' �a ��, �``\ ;\ �L 021910000S 6 09 L ° n 0219100043 4 - 'Zdi� n, - / z4 0219100044 ` o 0219100110 „ �it r /1444, r.t l w _0219100113 :•" ' Prern.�r NohdvDi0219200014 41 'g`„ @ Lo � a' t « �/ , -- eriP", 021990000193 �Y 02194000064: x '02194000 �) i +y , w / ''' 'i: .` 0219400020 € RehetDr_ ° 4 j 0219900022 � r}f `' / 1 8 0219400023 0219400025 de, FoaN 411,0219400041 -- _ " I�� .�t LE 11 "' amiLuir. / 0219400070 + tk' `' 0219400187 4+ IA 9L! *` • o r , T p . I 4. 4 -_ ._ t,, 'a-' r., - x u'` 0219400304 itf,' i t ._ T 1zr` 0219400400 IF I *�6J �— r ` s v i t i 0219400402 s• �, s� 1 >� 'f i 4 i lit,�„ L �. independence Rd 0219400403 Narwood Rd ;,ram a ? r 0219400404 #% Eim '^ { er Si, 0219400405 - I Irit 0219400406 3 . I.-I• to /i t�' 0219400408 C; ' / �.' 0219400409 .- I`6* I r — 0219400411 4 0219400412 ,Lin u 111, �ii, S I ' s I.. ' - 0219400465 Or I ' ; 0219400468 TnpoIr-Rd 1 0219400469 _ g t / >i 0219400471 a �w91 Yi I ¢ L fiL � .. 4 Black Bridge Rd --- 4 si='r�i, _s r / - e Newrr- st (, r _ A T4 �g4 - /_,_ w^_r`bc•x...Y.`. •• 1, t }'i..�0 4 ; % estop Park: _. \. .„ � r for C4' F. r+ath-on St 1 7�, x t .,,...� ° _s Matheson st z : c t r t .21 ,2 x� - �� ' ,. y a -,-it'''' r•1 1-7A t:* -7 ,, , , `9 , .,,,. t - � -Ai if WO { 'T R�}F d E�-- . l..r-r j CITY OF JANESVILLE `._)TID 38 �1 TID38 Expansion; ^ 701.2e4.mra�s 7,a-s4 Place 16,e00 I inch=700 teat ECONOMIC DEVELOPMENT v..r o 350 too ..__......�.�..........-... ::;cunaa rn„m ,,p, .a.a nr m.Cnr or em.,w,.,.,w..mmow pvm.,n own.rn.4q a.,oo.....a.o<¢a.00...a..o..,.,�e..m.ca.r.,w:mu n..wr,�•.r.v,a.,a,n.mn.w name,.,.ma.or y.ry.n.. EXHIBIT B - PROJECT PLAN [DISTRIBUTED SEPARATELY] March 18, 2024 PROJECT PLAN AMENDMENT City of Janesville, Wisconsin Tax Incremental District No. 38 . , ' EHL PUBLIC FI;N12,.NCE `, DVISORS Prepared by: Ehlers N19W24400 Riverwood Drive, Suite 100 Waukesha, WI 53188 BUILDING COMMUNITIES. IT'S WHAT WE DO. KEY DATES Organizational Joint Review Board Meeting Held: March 18, 2024 Public Hearing Held: March 18, 2024 Approval by Plan Commission: March 18, 2024 Adoption by Common Council: April 8, 2024 Approval by the Joint Review Board: Scheduled for April 22, 2024 TABLE OF CONTENTS Executive Summary 3 Preliminary Map of Original District Boundary and Territory to be Added 6 Map Showing Existing Uses and Conditions Within the Territory to be Added 10 Preliminary Identification of Parcels to be Added 13 Equalized Value Test 15 Statement Listing the Kind, Number and Location of All Proposed Public Works or Improvements Within the District 16 Map Showing Proposed Improvements and Uses Within the Territory to be Added 23 Detailed List of Estimated Project Costs 25 Economic Feasibility Study, Description of the Methods of Financing Estimated Project Costs and the Time When Related Costs or Monetary Obligations are to be Incurred 27 Annexed Property 32 Estimate of Property to be Devoted to Retail Business 32 Proposed Changes of Zoning Ordinances, Master Plan, Map, Building Codes and City Ordinances 32 Statement of the Proposed Method for the Relocation of any Persons to be Displaced 33 How Amendment of the Tax Incremental District Promotes the Orderly Development of the City 33 List of Estimated Non-Project Costs 34 Legal Opinion Advising Whether the Plan is Complete and Complies with Wis. Stat § 66.1105(4)(f) 35 Calculation of the Share of Projected Tax Increments Estimated to be Paid by the Owners of Property in the Overlying Taxing Jurisdictions 36 Tax Incremental District No. 38 Project Plan Amendment City of Janesville Prepared by Ehlers Page 12 SECTION 1: Executive Summary DESCRIPTION OF DISTRICT Tax Incremental District ("TID") No. 38 ("District") is a 44.2- acre Mixed Use District created on October 14, 2019. The project plan (the "Original Project Plan") included funding for the below costs within the District: • Provide an initial up-front development incentive related to a multi-family project; • Fund potential additional incentives related to demolition on other redevelopment sites throughout the District; • Fund City streetscape improvements; and, • Pay for administrative expenses. Purpose of Amendment The purpose of this amendment, referred to hereafter as the Plan, the Amendment, or the Plan Amendment, is twofold. First, the City is adding 44.3 acres of territory to the District as permitted under Wis. Stat. § 66.1105(4)(h)2. This is the first of four permitted territory amendments available to the District. Second, the City is amending the categories, locations or costs of project costs to be made as permitted under Wis. Stat. § 66.1105(4)(h)1. ("Project"). Estimated Total Project Cost Expenditures The City anticipates making additional project expenditures of approximately $3.86 million to undertake projects under the Amended Project Plan (the "Amended Project Costs"). The City does not intend to modify the scope of projects identified in the original project plan and retains the authority to fund remaining projects should they materialize. Amended Project Costs include (i) an estimated $2.9 million in /2 mile projects as further described in Sections 6 and 9 of this Project Plan, (ii) an estimated additional $695 thousand in interest expenses, (iii) an estimated additional $65 thousand in financing costs, and (iv) an estimated additional $206 thousand in administrative costs. Incremental Valuation The City projects that new land and improvements value of approximately $17.4 million will result from the Project. Creation of this additional value will be made possible by the Project Costs made within the District. A table detailing assumptions as to the development timing and associated values is included in the Economic Feasibility Study located within this Plan. Tax Incremental District No. 38 Project Plan Amendment City of Janesville Prepared by Ehlers Page 13 Expected Termination of District Based on the Economic Feasibility Study located within Section 9 of this Plan, the City anticipates that the District will generate sufficient tax increment to pay all Project Costs within 17 of its allowable 20 years. Summary of Findings As required by Wis. Stat. § 66.1105, and as documented in this Plan and the exhibits contained and referenced herein, the following findings are made: 1. That "but for" the creation of this District and this Amendment No. 1 to the Project Plan, the development projected to occur as detailed in this Plan: 1) would not occur; or 2) would not occur in the manner, at the values, or within the timeframe desired by the City. In reaching this determination, the City has considered: The substantial investment needed to provide the public infrastructure necessary to allow for development within the District. Absent the use of tax incremental financing, the City is unable to fully fund this program of infrastructure improvements. 2. The economic benefits of the District, as measured by increased employment, business and personal income, and property value, are sufficient to compensate for the cost of the improvements. In making this determination, the City has considered that the new development will likely include the purchase goods and services from local suppliers in construction of the Project, and induced effects of employee households spending locally for goods and services from retailers, restaurants, and service companies. 3. The benefits of the proposal outweigh the anticipated tax increments to be paid by the owners of property in the overlying taxing jurisdictions. As required by Wis. Stat. § 66.1105(4)(i)4., a calculation of the share of projected tax increments estimated to be paid by the owners of property in the overlying taxing jurisdictions has been prepared and can be found in this Plan. However, because the Project would not occur without the use of tax incremental financing, these tax increments would not be paid but for creation of the District and this Amendment No. 1 to the Project Plan. Accordingly, the City finds that the benefits expected to be realized as set forth in this Plan outweigh the value of the tax increments to be invested in the Project. 4. Not less than 50% by area of the real property within the District, as amended, is suitable for mixed use development as defined by Wis. Stat. § 66.1105(2)(cm). Tax Incremental District No. 38 Project Plan Amendment City of Janesville Prepared by Ehlers Page 14 5. Based on the foregoing finding, the District remains designated as a mixed- use district. 6. The Project Costs relate directly to promoting mixed use development in the District, consistent with the purpose for which the District is created. Lands proposed for newly-platted residential development comprise no more than 35% of the real property area within the amended District. Costs related to newly-platted residential development may be incurred based on the proposed development having a density of at least three (3) units per acre as defined in Wis. Stat. § 66.1105(2)(f)3.a. 7. Improvements to be made in the District are likely to significantly enhance the value of substantially all of the other real property in the District. 8. The equalized value of taxable property within the territory to be added to the District, plus the incremental value of all existing tax incremental districts within the City does not exceed 12% of the total equalized value of taxable property within the City. 9. The Plan for the District is feasible and is in conformity with the Master Plan of the City. 10.The City estimates that less than 35% of the territory within the District will be devoted to retail business at the end of the District's maximum expenditure period, pursuant to Wis. Stat. § 66.1105(5)(b). 11. That there are no parcels to be included within the District that were annexed by the City within the preceding three-year period. Tax Incremental District No. 38 Project Plan Amendment City of Janesville Prepared by Ehlers Page 15 SECTION 2: Preliminary Map of Original District Boundary and Territory to be Added Map Found on Following Page. Tax Incremental District No. 38 Project Plan Amendment City of Janesville Prepared by Ehlers Page 16 TID 38 - 1st Amendment - Parcel Key ) � F ek Wage_Rd _ k e4 Nrxt* '6/i`a�r - t>. ami'1a /i * 'yam I I.[ _ }yam42. ,.N,i.. ? �s. :, / _ d $` 1 ��{�'{2 -9 I�. _ ,C�4. wiry-J � F.. / {1fllNN CM , t - 3i 1 l••. l+ r Aativi / j .- ` �a / / / +k r ,.�1 EF _3. - .. ';7 Newnan"'''- St 17- - _ '1t" ' .3� /,/ //' /// rut.or: .gip— �, �` rtl r— . /. 1, i / _ 5-i.,,,/,;.., ,..,,1,3,,,,, ,,,, . , ., ....,....._. -,....1, ,..„...y, ,_ . ...,„. ,,,,,., „,,,,, ,,,... ,,,.....,,,, .,,, ,:ei, ' -pz.. :•---7— , I� 1 t •,, , ,_:.:, t} a,,,,,,,-,/,, --,,:i.,,,z. , Craton Pack Dr ��I ,�.7 s �"E 10, PARCEL i "' 'T ) I ea. " "'Norwood Rd 06 l — KEY Pil1MB R ADDRESS dame Rd �, .'-'A ' l'—' Sat- * r� ' M _ e 01 02191000 6 2221 Milton Aver � r a v �� 02 0219100006 2221 Milton re } ,s. E1. ' S +rM �„ ' ';i' 03 0219100008 2121 Milton Ave c `'` / !� 04 0219100043 2235MikonAve t r 4.-- Q,1, ,: 4I -r^ r 1 , t OS 0219100044 2225 Milton Ave t.....i it..,- '� .; , -• - 06 0219100110 2009 Milton Ave s. " ;'-'1 a . �� ll�, I �-- P 0; 07 0219100113 2211 Milton Ave p a. - 3Y• 1 _ / of 08 0219200014 2500 Milton Ave a - 'd3 i 7 t-',t 09 0219200030 2500 Liberty l.n ai,F. 4 ��7rrpoi�Rd ; 10 0219400003 1717 Milton Ave ' fart2,4 , ` gi 11 0219400006 1821MikonAve r am.,`. :. - 3 12 0219400011 1141 Blak fridge Rd '1 J }1 L ,Li o ' . 13 0219400019 1809 Milton Ave n �+»"'— — 14 0219400020 1911 Milton Ave Black Britlee Rd r 1156 0219400021 1819 Milton Ave ` . 7; a s '‘id, "�� 1► _' I 16 0219400022 1315 Black bridge Rd I far / p 0 17 0219400023 1315 Woodman Rd " s.r., i 'J 4 5 _I 3 4► 45i7 ' 18 0219400025 1222 Gaston Pak I, -j �I +* a '-s ' ' -+ ° 3� /'��' ,g,„1 19 0219400041 1530 Milton Ave ' .x c. a 414 _ ;.1 - "' 20 0219400042 1608 Mikan Ave '- 7. ! ' %ay •. A- ' 21 0219400070 1313 Milton Ave 42 ' rR l r�- � "- `' t 22 0219400187 1215 Blade Bridge I: ,,:: , �' `- a .4 23 0219400202 1901 Mikan Ave ✓' ^set # • ' 24 0219400299 1213 Mt Zion Ave " 43 's Ci ton 25 0219400302 1334 Milton Ave ' ' G' 'i „t .-,. ' - 26 0219400303 1300 Milan Ave ". 1 '' r "`" r 27 0219400309 1219 Mt Zion Ave i,"- t vM' ' 2g 0219410400 1619 Milton Ave ? , - 29 0219400402 1603 Milton Ave a k 30 0219400403 1527 Milton Ave :,-,,...,___,- -„,-,..,....-.,,, ; ..,...,,....,,,,_+::..,..-:,.,i.....f.,. ., , ,j.",..,,,. - t 32 0219400405 1513 Milton Ave c t,�s - 33 0219400406 1503 Milton Are %� Tilt g s Irk;, # 34 0219400408 1506 Woodman Rd `\', S .r 35 0219400909 1510 Woodman Rd i ' a ,+iv . .- _t , ,'- �Eyhda St 36 0219400411 1520 Y�oodman R I v 7b 'a ` -' t l � 37 0219400412 1524 Woodman Rd ice. I ". - !�' t I ff-. 38 0219400465 1421 Milton Ave '«.I `"1, i I I ''' i - 39 0219400467 1416 Woodman R.I 1 4 k 6l T ? 40 0219400468 1420 Woodman Rd ti -. 4 tr,Sils - Ha...thorn.,Apve 41 0219400469 1424 Woodman Rd I Q *a r t.a 7¢;ii 10 V T rug , > a 42 0219400470 1204 Newman St Benton As! TS fgl UNTO ,rrr 1 r 43 0219400471 1333 Milton Ave -__ CITY OF JANESVILL1 (==')TID 38 (—I iID38Expunsion 114.2ee.4li.t Pa.UG Platee 1:8,100 rintn=T00 relit ECONOMIC DEVELOPMENT r.., trscumn:m..raca„prova..rm.cn..:mnwr....:we,a.,.,.o,: Tax Incremental District No. 38 Project Plan Amendment City of Janesville Prepared by Ehlers Page I 7 TID 38 - 1st Amendment - Half Mile Buffer .: , PARCEL - - _rya NUMBER i r -,t ' R 0124300030 0219400202 .. _ _it ' " 0219100006 0219400299 - 1 _/a: s `.. +w °� \-.,'„N:0219100008 0219400302 / ''�°,qo _ -/ I - : N 5 S-. 0219100343 0219400303 !- / � "6.� / ,.:� - f w 0219100044 0219400304 „,.., J % t z.. Rarete<! re r "8't 0219100110 0219400400 s .4.ieEf Ave *44 n \ saw''' 0219100113 0219400402 t.. / y" 1, , �"'",, ° ,*-' 0219200014 0219400403 . P . �' �.. - - 0219200030 0219400404 / r ..A - . . '' 1 - , P .,•� `3 ,tk=' ,t 0219400003 0219400405 r •+.t.4,,_ ti �"1 !\ Fs►r 0219400006 0219400406 ne n ssn Pdf t 0219400011 0219400406 ;r,J, • r 9 f, 0219400019 0219403409 a,, mr Dr ,.,_ 'w r //l' - ` • 0219400020 0219400911 ? •r ie Y# �, °r I - 0219400021 0219400412 f / ' 'A ,/ ,, /./ - �'-L .! 0219400022 0219400465 a s / i, ..q �'�-t'411 II ,,.,.; .; 0219400023 0219400467 ! '•'.�1_ a .8/ - •;. 0219400025 0219400468 / 4r / cA ..y „ ' is d___'_ .n I a 0219400041 0219400469 ,., I' 1� HolidayDrw F � 0219400042 0219400470 ,w tirOr ° " e 7 c,* 0219400070 0219400471 . "`'^' � • -� J111 ! i••• -� ,j A4 y - - 0219400187 �.f Rarsit 'f�/� f, .- .`a "a - nga* KL P / 1'17 - gasser be t ,,i/ 'i.' 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Y a.fr ,. >fs r i' 11 a , .ero yr' 6ii s vY 7p w '3r 1? !l s' r•r . 14'''11r,34 , ••sri.s - !°�` y. #�,iyt�RA.ut A+s arA + y s '({ Itl ' `.8S"E?kA�43 w sr ... A e It �'�. ,A. < � >.; r z� � C:t3S .11lI, I,lYtirA >I ! A�' 4y ��to"�4 a� D M a j �-! 5 a s:4, 81M •r - .f, w 14:# +, 5� 4 as ....,te l+ 1k4 Sa' s u 1Fa1 A g r aittleticf i I w/y��.jlr4� 03 yy a -;� - £ 1.' - - "e D f'fat'; 1 ., ,`,* '1 6 .ply th Ave ^' > i - o` Rr merd A.e � � csY9 tt�r fib." ".3 .,gt- `+�a i •L -� R - � � ? i`!3,�t�ir �, o .att";�!YL" f � 9 ti' � " ArMreAre = ( . TID33 r.=1 Half Mile TID buffer N CITY OF JANESVILLE A 7.04e4.rat a l-P4.o4 Palaea I=TID 38 Expallsic4 i6,800 t tan=t�00 rear ECONOMIC DEVELOPMENT r.. .--uca,n.,tmuatva.,.e.aarm.ce.mm.:,ul.r..we,mau.ea v,gor.:>wr_n.ara.ue.t.ammae„®t«m.,aoe,n or rawer,t m..a,,m.r.aiiot atIn mu,::®naar 0o SI eras.toa,a,v,ar.r. Tax Incremental District No. 38 Project Plan Amendment City of Janesville Prepared by Ehlers Page 18 Parcel 0219200014 Split I,11I1I.! IIk Tx:4158271 2251801 SANDY DISRUD REGISTER OF DEEDS ROCK COUNTY,WI CERTIFIED SURVEY MAP RECORDED ON 11/09/2023 11:19 AM ALL FOUR QUARTERS OF THE NE 1/4 OF SECTION 19, T.3N.. R.13E. REC FEE:30.00 OF THE 4TH P.M.. CITY OF JANESVILLE. ROCK COUNTY, WISCONSIN. CSM 42-223 INCLUDING THE VACATED 30 FOOT ACCESS ROAD ALONG MILTON AVENUE. PAGES:5 ..;S.-V. lS �; C .p A...,F.gaa . JANESVILLE I i(LP'. WI ;',tL ',' <r J-v*s HOLIDAY DRIVE "��''��jif: S88'OS'06-E 0EC.Se7.12'p'V e�� R /\/ iii . ��\ ,, 20'OASLTNE EASE/6/17 If 00.5.90.1304187 Lai g �'/ ,p 03 f\� 5•L. A. 1n ti/ • • o ,tea ,// 5 o;;•si\\`� LOT 1 i 1 t- 1421809 SO.FT. / i /I' 32.64 ACRES / �f ' lit `0 ( ,:.,° -.4 / /o ue pti� >m A p..•, `-, y�a / ,et LOT 2 0�° i�^� 4' a�' Lf .t C y p 343217 SO.FT, CO 3'�.ff 2'prL 7.68 ACRES r b.. S25.02'15'W `•♦ �fey ; 5..' 611 116.66• / F' ' 2 C 1 ,� See 323,)0' Sat .W W I' a. �. + l,' 1 NB7'50'13r — ei, 4' -1 A 1 LOT 1 SEMER EASEMENT Gx.N0.763a90 , aTa"i 40. iy 1421809 SO.FT. ox.50.7654n ,�¢. a 32.64 ACRES W W ,4 SEKERo �ti 000.N0M Att.62'If'M N '' so S1•48'25'H `�( N88.11'30-M SUE f041.56' t DEC.T60.11.30•M 106.94' TNEt.fw1.53'/ ARLOT 13 BLK 2 568.56 40 W D,:.N D. 0 't SD9'1I93•M NOTE: FIELDWORK COMPLETED JULY 15 2022. NOTE: ASSUMED 588'05'36'E ALONG THE NORTH LINE OF THE NE 1/4 OF SECTION 19-3-13. -4 .t.vrDamv>nrovc NOTE: UTILITY EASEMENTS AS SET FORTH ARE FOR THE USE OF PUBLIC -(� 80DiES AND PUBLIC UTILITIES HAVING RIGHTS TO SERVE THE PLATTED /.—�•'L �S�/� • 'UNDONG A2'A. •OW ING4.91PIN3 F'To/eclNo. 122-202a 109 M.Nil 4.ee St. For:C11YOFJANESVILLE SHEET I OF 5 SHEETS ltyes•1Ile. NI71'.a8 eel- 608752-0575 +w•0000SS00.7.to t4+: 608 752-0534 2251801 1 of S Tax Incremental District No. 38 Project Plan Amendment City of Janesville Prepared by Ehlers Page 19 CERTIFIED SURVEY MAP ALL FOUR QUARTERS OF THE NE 1/4 OF SECTION 19. T.3N., R.13E. OF THE 4TH P.M.. CITY OF JANESVILLE. ROCK COUNTY, WISCONSIN. INCLUDING THE VACATED 30 FOOT ACCESS ROAD ALONG MILTON AVENUE. MWM LINE OF THE NE 1/4 OF SECTION 19-3-13 Q\---SBB'05'38'E 2644.10' SECTION f9-]-f] NI RTN 1/4 COMERil. 99-' +e CF SELTI9V N9-3-13 \t,, HOUDAY DRIVE / y.,?` SBB'05'00'E(AEC.Se7.12'40'El 1023.Ofi' FmWNx.' ` 101C�NIF/ / 01EC.10a2.67') ``�''\s S FA'' �Ya.�• ''RYANM �t'i :-- 1 1-4- 48S ''' ! I JANESVILLE W 3 9 No �.:, WI • J • T .F AL....LAN �• `` q"� f4�1sODe 0 FT. ' F/�1ronn0�%` d; 32.64 ACRES /J, W r I „P ° a4;3 ,� 7 D• w • 1 ltT pti m o e $ J~ o mg D W N o 'r - 0 " IGF� °� r r N 0)w 0 U 2 O i ' CI CI SEC.S89.9'15'N SEWER EASEMENT '\ 325.05' ROC.hV.763490 3, S68'57'12'1* 00C.N0.765477 +?' — a' 1'a LEGEND: ass ;la?, 2y� I DRIVE I O SET IRON PIM 3/4'x 24". $Q� �'' 9 1.5 LBS./LIN.FT. aEc.sa vl'+0 n• i cf' ,Cn0 • FOUND 3/4' i RON PIN Sf'4B'25'M --" !�C� 43\ . • FOUM3 1' IRON PIPE T1°6.94' I( HANCOCK LANE • FOUND ALUMINUM MONUMENT LOT 13 BLK 2 1588'56 c. Tt DRILL HOLE AROON SUED. 11 SEg'49'15'qti SET MAG NAIL 0 FOUND POLYSTRENE MONUMENT **NOTE: A Reciprocal Easement Agreement will be recorded by separate instrument to define rights and responsibilities A SET SPIKE NAIL associated with shared facilities existing on Lots I and 2. • SURVEYING eaNOTE Portions of lot 1 delineate no build areas which prohlbii {p///�'''��(�[� � placement of any new or additional above ground structures upon � 1 rlbS .LANDNLANMNG any portion of said areas. &ASSOCIATESS .t7121'NG44338/0 Project No. 122-2020 109W. *llveutee St. For CITY OF JANESVILLE SHEET 2 OF 5 SHEETS ,.bnes,Oille, WI53548 tel. 608 752-0575 .e 00ssm^elf.roe 2251801 2 of 5 Tax Incremental District No. 38 Project Plan Amendment City of Janesville Prepared by Ehlers Page 110 Map Showing Existing Uses and Conditions Within the Territory to be Added Map Found on Following Page. Tax Incremental District No. 38 Project Plan Amendment City of Janesville Prepared by Ehlers Page 111 TID 38 - 1st Amendment - Existing Land Use PARCEL �e 7 :NUMBER �� e 0124300030 ..._ mai •To s /" '�` gin Il 0219100006 .+ •. Mi.,..',, t 1., (�F¢ r. 0 0219100008 e - y, 0219100043 •� 0219100044 2 *- ,NES.,41 jilt_ , 0219100110 _ 0219100113 _ Arbors M miii 30 ' G� / Floliday Dr300306J`` /11 J /19 , ,/- 20 , • Retset Dr � p,21 ,� 0219400022 0 31 / ' 0219400023 2 o r Foster Ave 1 0219400025 • $1 ila / 0219400041 N 0219400042 ` Reuel Dr ou9aoomo I M 0219400167 _ --- 0219400202 � (7 P 0219400299 sr•` / u� ;- w. ' 0219400302 r 0219400304 's� 1 0219400304 ,—�� ' iz' - zf in I 0219400400 ,•`� 0219400402 l>_�- Inds endence R4 ' 0219400403 Norwood Rd -- • 0219400404 � ,- ///' ' J 0219400405 i. n'J 0219400406 o_= ■ % Randolph Rd 0219400408 = -Elm - --- -1 # I. _ I ,� I 0219400409 �� = =, -- j r - �I I 0219400411 0219400412 �■ =' = 14.31.:- m 1 �- 02194D0465 ■ ■ f �. 02194009679r a '� p L -: .s = a ?a '` Li Rd 5 ■1 • 0219400468 + Tr ,d s '� 1 0219400469 . iii ao �i f e IM - 0219400471 I„ 'Ri < // ¢an1. :! = 74 ■. 1111 BIecR 4r1dpe Rd i II' r WPM OM 1,70';,421"12111 r:2.-'''iM•1;77i'M Ilm Mir, .i. --' •°1 I i . R]i ' MN NMI iii rii ,,,,,,,4„,,,,,„,„., ,..„., ..„,„ ,..., ■ iii „,.. ..,,,„ . .. , r ,.,.„, C Fteworarnr St rigi, ti .........,•• -,--, --, m1-17' 4 /- j ' Newman 5[Y e J _ / 44 ,s, Creston Dr ill •, a d $ „_, ,, . a 1N111 I"1� 1 1,11 ��■1 MathesoniSt III , ' _N:* 1nj C- -- a. Ili v e k es ,•i■ ils 1 1___ m ,,. d y-~ t4;. i' > u fie'Pack 0, '. rlf:� Ira , —., r - „fit cr alll.. " �,lI �/ 1 � IN111NI AelatbyRd u-', <" -. Existing Land Use Light Industrial WI Parks&Open Space I.Commercial E General Industrial Residential-Single Family N CITY OF JANESVILLE fa! I Extraction n Residential-Multi FamilyResidential-Two Family A 'lf/ioeetmlas Pa-ti Peaer Mi Institutional ritsr,Office Agriculture/Vacant f s400 ;.nth,Trt;feet EcooMICDrvc>_orMrNr O TID 38 C TID 38 Expansion o sa >o<r u•''---------- - Ci XIAfHfJa tM pate s po'naepMU[C:ry plJMalvJle'cr'.-•vmaropa.pvryoses pnh TMC:r9 Foes not�arrarta N+aptee tr.a«urx9 arelubary of tots data tpe rxpteetat Wa aaU assutrcs apY ret of ps uae for apypurym< Tax Incremental District No. 38 Project Plan Amendment City of Janesville Prepared by Ehlers Page 112 SECTION 4: Preliminary Identification of Parcels to be Added The District will include the parcels identified in the tables included below: Parcel Data Suitable Acres Map Reference Parcel Number Acres Commercial/ Previously- Newly-Platted Number Platted Business Residential Residential Existing TID Area 44.22 22.77 1.04 9.13 N/A ROW Areas 1.69 2 0219100006 0.55 0.55 3 0219100008 1.08 1.08 4 0219100043 1.44 1.44 5 0219100044 0.54 0.54 6 0219100110 2.88 2.88 7 0219100113 0.58 0.58 8 0219200014* 32.64 32.64 9 0219200030 1.89 1.89 14 0219400020 1.03 1.03 TOTALS 88.54 63.51 1.04 11.02 Percentage of TID Area Suitable for Mixed Use Development (at least 85% 50%) Percentage of TID Area Not Suitable for Development 15% Percentage of TID Area Suitable for Newly Platted Residential 12% Development (no more than 35%) - - — *Parcel was subdivided by a CSM recorded on November 11, 2023 (see pages 9 and 10 of this Project Plan) and only a portion will be included in the District boundaries. Tax Incremental District No. 38 Project Plan Amendment City of Janesville Prepared by Ehlers Page 113 Calculation ofEstimated_Base Value' Assessed Value Equalized Value2 Parcel Land Improvement Total Land Improvement Total 0219100006 248,900 505,600 754,500 269,200 546,800 816,000 0219100008 387,500 817,100 1,204,600 419,100 883,700 1,302,800 0219100043 322,000 587,400 909,400 348,300 635,300 983,600 0219100044 149,900 0 149,900 162,100 0 162,100 0219100110 628,200 1,037,700 1,665,900 679,400 1,122,300 1,801,700 0219100113 259,300 841,400 1,100,700 280,400 910,000 1,190,400 0219200014* 7,125,700 1,764,800 8,890,500 7,706,900 1,908,700 9,615,600 0219200030 312,000 54,500 366,500 337,400 58,900 396,300 0219400020 450,700 1,283,800 1,734,500 487,500 1,388,500 1,876,000 TOTALS 9,884,200 6,892,300 16,776,500 10,690,300 7,454,200 18,144,500 1) Estimated based on values as of January 1, 2023.Actual base value will be as of January 1, 2024. 2)Calculation based on aggregate assessment ratio of 92.46%. *Estimated value based on GIS measurement of the portion of the parcel that will be included in the District boundaries. • Tax Incremental District No. 38 Project Plan Amendment City of Janesville Prepared by Ehlers Page 114 SECTION 5: Equalized Value Test The following calculations demonstrate that the City expects to be in compliance with Wis. Stat. § 66.1105(4)(gm)4.c., which requires that the equalized value of the taxable property proposed to be added to the District, plus the value increment of all existing tax incremental districts, does not exceed 12% of the total equalized value of taxable property within the City. Calculation_of City EquaLz�d_ValueLimit City TID IN Equalized Value (Jan. 1, 2023) $ 8,093,961,800 TID Valuation Limit @ 12% of Above Value $ 971,275,416 Calculati_on_of Value Subject_to_Lim.it Estimated Base Value of Territory to be Included in District $ 18,144,500 Incremental Value of Existing Districts (Jan. 1, 2023) $ 507,147,200 Total Value Subject to 12% Valuation Limit $ 525,291,700 Total Percentage of TID IN Equalized Value 6.49% Residual Value Capacity of TID IN Equalized Value $ 445,983,716 The equalized value of the increment of existing tax incremental districts within the City, plus the value of the territory proposed to be added to the District, totals $525,291,700, which is 6.49% of the City's total equalized value. This value is less than the maximum of $971,275,416 (12%) in equalized value that is permitted for the City. Following expansion of the District, its base value is no longer counted towards the 12% limit, however, any incremental increase in value will be included in the calculation for creation of subsequent districts, or where territory is being added to an existing district. Tax Incremental District No. 38 Project Plan Amendment City of Janesville Prepared by Ehlers Page 115 SECTION 6: Statement Listing the Kind, Number and Location of All Proposed Public Works or Improvements Within the District Project Costs are any expenditure made, estimated to be made, or monetary obligations incurred or estimated to be incurred as outlined in this Plan. Project Costs will be diminished by any income, special assessments or other revenues, including user fees or charges, other than tax increments, received or reasonably expected to be received in connection with the implementation of the Plan. If Project Costs incurred benefit territory outside the District, a proportionate share of the cost is not a Project Cost. Costs identified in this Plan are preliminary estimates made prior to design considerations and are subject to change after planning, design and construction is completed. With all Project Costs, the costs of engineering, design, survey, inspection, materials, construction, restoring property to its original condition, apparatus necessary for public works, legal and other consultant fees, testing, environmental studies, permits, updating ordinances and plans, judgments or claims for damages and other expenses are included as Project Costs. The map found in Section 7 of this Plan along with the Detailed List of Project Costs found in Section 8 provide additional information as to the kind, number and location of potential Project Costs. The "Statement of Kind, Number and Location of Proposed Public Works and Other Projects" set forth in the original District Project Plan approved on October 14, 2019 is amended and restated to include the following Project Costs that the City has made, expects to make, or may need to make, in conjunction with the implementation of the District's Plan or this Plan Amendment. Property, Right-of-Way and Easement Acquisition Property Acquisition for Development To promote and facilitate development the City may acquire property within the District. The cost of property acquired, and any costs associated with the transaction, are eligible Project Costs. Following acquisition, other Project Costs within the categories detailed in this Section may be incurred to make the property suitable for development. Any revenue received by the City from the sale of property acquired pursuant to the execution of this Plan will be used to reduce the total project costs of the District. If total Project Costs incurred by the City to acquire property and make it suitable for development exceed Tax Incremental District No. 38 Project Plan Amendment City of Janesville Prepared by Ehlers Page I 16 the revenues or other consideration received from the sale or lease of that property, the net amount shall be considered "real property assembly costs" as defined in Wis. Stat. § 66.1105(2)(f)1.c., and subject to recovery as an eligible Project Cost. Property Acquisition for Conservancy To promote the objectives of this Plan, the City may acquire property within the District that it will designate for conservancy. These conservancy objectives include: preserving historic resources or sensitive natural features; protection of scenic and historic views; maintaining habitat for wildlife; maintaining adequate open space; reduction of erosion and sedimentation by preserving existing vegetation; and providing adequate areas for management of stormwater. The cost of property acquired for conservancy, and any costs associated with the transaction, are eligible Project Costs. Acquisition of Rights-of-Way The City may need to acquire property to allow for installation of streets, driveways, sidewalks, utilities, stormwater management practices and other public infrastructure. Costs incurred by the City to identify, negotiate and acquire rights-of-way are eligible Project Costs. Acquisition of Easements The City may need to acquire temporary or permanent easements to allow for installation and maintenance of streets, driveways, sidewalks, utilities, stormwater management practices and other public infrastructure. Costs incurred by the City to identify, negotiate and acquire easement rights are eligible Project Costs. Relocation Costs If relocation expenses are incurred in conjunction with the acquisition of property, those expenses are eligible Project Costs. These costs may include but are not limited to: preparation of a relocation plan; allocations of staff time; legal fees; publication of notices; obtaining appraisals; and payment of relocation benefits as required by Wis. Stat. Chapter 32 and Wis. Admin. Code ADM 92. Tax Incremental District No. 38 Project Plan Amendment City of Janesville Prepared by Ehlers Page 117 Site Preparation Activities Environmental Audits and Remediation If it becomes necessary to evaluate any land or improvement within the District, any cost incurred by the City related to environmental audits, testing, and remediation are eligible Project Costs. Demolition To make sites suitable for development, the City may incur costs related to demolition and removal of structures or other land improvements, to include abandonment of wells or other existing utility services. Site Grading Land within the District may require grading to make it suitable for development, to provide access, and to control stormwater runoff. The City may need to remove and dispose of excess material, or bring in fill material to provide for proper site elevations. Expenses incurred by the City for site grading are eligible Project Costs. Utilities Sanitary Sewer System Improvements To allow development to occur, the City may need to construct, alter, rebuild or expand sanitary sewer infrastructure within the District. Eligible Project Costs include, but are not limited to, construction, alteration, rebuilding or expansion of: collection mains; manholes and cleanouts; service laterals; force mains; interceptor sewers; pumping stations; lift stations; wastewater treatment facilities; and all related appurtenances. To the extent sanitary sewer projects undertaken within the District provide direct benefit to land outside of the District, the City will make an allocation of costs based on such benefit. Those costs corresponding to the benefit allocated to land within the District, and necessitated by the implementation of the Project Plan, are eligible Project Costs. Implementation of the Project Plan may also require that the City construct, alter, rebuild or expand sanitary sewer infrastructure located outside of the District. That portion of the costs of sanitary sewer system projects undertaken outside the District which are necessitated by the implementation of the Project Plan are eligible Project Costs. • Tax Incremental District No. 38 Project Plan Amendment City of Janesville Prepared by Ehlers Page 118 Water System Improvements To allow development to occur, the City may need to construct, alter, rebuild or expand water system infrastructure within the District. Eligible Project Costs include, but are not limited to, construction, alteration, rebuilding or expansion of: distribution mains; manholes and valves; hydrants; service laterals; pumping stations; wells; water treatment facilities; storage tanks and reservoirs; and all related appurtenances. To the extent water system projects undertaken within the District provide direct benefit to land outside of the District, the City will make an allocation of costs based on such benefit. Those costs corresponding to the benefit allocated to land within the District, and necessitated by the implementation of the Project Plan, are eligible Project Costs. Implementation of the Project Plan may also require that the City construct, alter, rebuild or expand water system infrastructure located outside of the District. That portion of the costs of water system projects undertaken outside the District which are necessitated by the implementation of the Project Plan are eligible Project Costs. Storm water Management System Improvements Development within the District will cause stormwater runoff. To manage this stormwater runoff, the City may need to construct, alter, rebuild or expand stormwater management infrastructure within the District. Eligible Project Costs include, but are not limited to, construction, alteration, rebuilding or expansion of: stormwater collection mains; inlets, manholes and valves; service laterals; ditches; culvert pipes; box culverts; bridges; stabilization of stream and river banks; and infiltration, filtration and detention Best Management Practices (BMP's). To the extent stormwater management system projects undertaken within the District provide direct benefit to land outside of the District, the City will make an allocation of costs based on such benefit. Those costs corresponding to the benefit allocated to land within the District, and necessitated by the implementation of the Project Plan, are eligible Project Costs. Implementation of the Project Plan may also require that the City construct, alter, rebuild or expand stormwater management infrastructure located outside of the District. That portion of the costs of stormwater management system projects undertaken outside the District which are necessitated by the implementation of the Project Plan are eligible Project Costs. Tax Incremental District No. 38 Project Plan Amendment City of Janesville Prepared by Ehlers Page 119 Electric Service To create sites suitable for development, the City may incur costs to provide, relocate or upgrade electric services. Relocation may require abandonment and removal of existing poles or towers, installation of new poles or towers, or burying of overhead electric lines. Costs incurred by the City to undertake this work are eligible Project Costs. Gas Service To create sites suitable for development, the City may incur costs to provide, relocate or upgrade gas mains and services. Costs incurred by the City to undertake this work are eligible Project Costs. Communications Infrastructure To create sites suitable for development, the City may incur costs to provide, relocate or upgrade infrastructure required for voice and data communications, including, but not limited to: telephone lines, cable lines and fiber optic cable. Costs incurred by the City to undertake this work are eligible Project Costs. Streets and Streetscape Street Improvements To allow development to occur, the City may need to construct or reconstruct streets, highways, alleys, access drives and parking areas. Eligible Project Costs include, but are not limited to: excavation; removal or placement of fill; construction of road base; asphalt or concrete paving or repaving; installation of curb and gutter; installation of sidewalks and bicycle lanes; installation of culverts, box culverts and bridges; rail crossings and signals; utility relocation, to include burying overhead utility lines; street lighting; installation of traffic control signage and traffic signals; pavement marking; right-of-way restoration; installation of retaining walls; and installation of fences, berms, and landscaping. Streetscaping and Landscaping To attract development consistent with the objectives of this Plan, the City may instal► amenities to enhance development sites, rights-of-way and other public spaces. These amenities include but are not limited to: landscaping; lighting of streets, sidewalks, parking areas and public areas; installation of planters, benches, clocks, tree rings, trash receptacles and similar items; and installation of brick or other decorative walks, terraces and street crossings. These and any other similar amenities installed by the City are eligible Project Costs. Tax Incremental District No. 38 Project Plan Amendment City of Janesville Prepared by Ehlers Page 120 Community Developments Cash Grants (Development Incentives) The City may enter into agreements with property owners, lessees, or developers of land located within the District for sharing costs to encourage the desired kind of improvements and assure tax base is generated sufficient to recover Project Costs. No cash grants will be provided until the City executes a developer agreement with the recipient of the cash grant. Any payments of cash grants made by the City are eligible Project Costs. Contribution to Community Development Authority (CDA) As provided for in Wis. Stat. § 66.1105(2)(f)1.h and Wis. Stat. § 66.1333(13), the City may provide funds to its CDA to be used for administration, planning operations, and capital costs, including but not limited to real property acquisition, related to the purposes for which it was established in furtherance of any redevelopment or urban renewal project. Funds provided to the CDA for this purpose are eligible Project Costs. Revolving Loan/Grant Program To encourage private development consistent with the objectives of this Plan, the City, through its CDA, may provide loans or grants to eligible property owners in the District. Eligible improvements will be those that are likely to improve the value of the property, enhance the visual appearance of the property and surrounding area, correct safety deficiencies, or as otherwise specified by the CDA in the program manual. Any funds returned to the CDA from the repayment of loans made are not considered revenues to the District and will not be used to offset District Project Costs. Instead, these funds may be placed into a revolving fund and will continue to be used for the program purposes stated above. Any funds provided to the CDA for purposes of implementing this program are considered eligible Project Costs. Miscellaneous Rail Spur To allow for development, the City may incur costs for installation of a rail spur or other railway improvements to serve development sites located within the District. Tax Incremental District No. 38 Project Plan Amendment City of Janesville Prepared by Ehlers Page 121 Projects Outside the Tax Increment District Pursuant to Wis. Stat. § 66.1105(2)(f)1.n, the City may undertake projects within territory located within one-half mile of the boundary of the District provided that: 1) the project area is located within the City's corporate boundaries; and 2) the projects are approved by the Joint Review Board. The cost of projects completed outside the District pursuant to this section are eligible project costs and may include any project cost that would otherwise be eligible if undertaken within the District. The City intends to make the following project cost expenditures outside the District: • $565,000 for pavement removals / grading / earthwork • $870,000 for utility relocations / new installations • $1,000,000 for asphalt paving / concrete paving • $95,000 for removal of existing frontage road • $365,000 for new frontage road alignment Professional Service and Organizational Costs The costs of professional services rendered, and other costs incurred, in relation to the creation, administration and termination of the District, and the undertaking of the projects contained within this Plan, are eligible Project Costs. Professional services include but are not limited to: architectural; environmental; planning; engineering; legal; audit; financial; and the costs of informing the public with respect to the creation and amendment of the District and the implementation of the Plan. Administrative Costs The City may charge to the District as eligible Project Costs reasonable allocations of administrative costs, including, but not limited to, employee salaries. Costs allocated will bear a direct connection to the time spent by City employees relating to the implementation of the Plan. Financing Costs Interest expense, debt issuance expenses, redemption premiums, and any other fees and costs incurred in conjunction with obtaining financing for projects undertaken under this Plan are eligible Project Costs. Tax Incremental District No. 38 Project Plan Amendment City of Janesville Prepared by Ehlers Page 122 SECTION 7: Map Showing Proposed Improvements and Uses Within the Territory to be Added Map Found on Following Page. Tax Incremental District No. 38 Project Plan Amendment City of Janesville Prepared by Ehlers Page 123 TID 38 - 1st Amendment - Future Land Use ,, 1 PARCEL I 4- (j " S 7 NUMBER i'', < of g 1 0124300030 _ `�, , -� L,betty Ln 0219100006 c Q a • 02191001)Oti j � '�`' !0219100043 - -- "r?-' ,`1 I�� J i , '�'': 0219100044 F 1.Mile Project / / ,h` 7/ — 0219100110 Costs W' j"i / E--- 0219100113 i�_ i 0219200014 ;_ °I 7n 'fit gg Houda Or ( ` 021920003(1 I' 0219400006 0214100006 _ .. ,•, ,� 0219-100011 I� •r ,�' • - 021940001911 --.1-' M 0219400020 R etR, •a' - - 0219400021 i'II': '"'III 0219400022 r 0219400023 -FosterAve ft // �. 0219400025 10011k...---- ) / ---p HV 070 1187 202 'f a �- 0219400299 I - ` .2 0219400302 1 ! e 8 0219400303 l �. --Ix z 0219400304 -_ 0219400,100 02.19400402 - Independence Rd Norviood Rd 0219400403 111111111NI"'-1 - xp�0219400/04 '� ° i- 0219400405 : ; � .i__ 0219400406 a' ?Mitt Ad 44" I 0"0„0,g 4^"'.. ram '�. i re .-.. .a=_ If 0219,100108 _ If 0219400409 ewe '; �7� The City expects a variety of development to — t 0219400411 3: -1 _- , - 0219-100412 t. IIIN :r occur within the expanded area to include — 0219400465 I '' pg; 0219400467I r' generic commercial development, hotel, 0219400468 �h'P�;-R° makerspace, activity center, and multifamily 0219400469 • t;.� cI 0219400470 lie a �) ;_' / residential.Values,timing,type,and location of _ -I 0219400171 ; ,� r. __ ,,. . . the projects are subject to change and specific =�`` locations for such development projects are not ;L . - �. v, ?.. identified within this Project Plan. ;� t , L__ 0-----" ,: Future Land Use —FP � ,, Parks,Open Spaces,and Env.Corridors f , '' / Single •Farr ty •Residential-Urban # `.""1 / CrestonPatk CA 'eMixed Residential �, ;Kam Planned Mixed Use —'� -'r + �� 1 NI - Neighborhood Commercial f I---2 . �-t '+- l.� I / I_ pN I .!Tyy. 7,-7�,n �.;Community Commercal 't'C+aV� ,, ,''fir 1 Office — �, i I i '�� = Community Faalities ^i "✓• ' Z�Matl,_e:an;si- c ii Extraction ( z Li ht Industrial I t� 1 T�- �`I'1`\0').'"- / i ,, ? i li---,f errsi =General Industrial N CITY OF JANESVILLE 0 11 D 38 O TID 3B Expansion 7egiste ea.i.,.Pcvs4 Xt tee 9.100 1 inch=700 feel ECONOMIC DEVELOPMENT o ra too ..............�.,...�......—.�... DIXIAUYA.Tth 9u 1yroua.a LT th.Crtr tl pe.,Wlelo,mfe,manooL rvrym.,,dn.T\eaT don uc.uvrama r.ou..dexm.q e,ra.EWT or,W,Eno fE•nnpio,anti,Env„,ma m,n,Y tilt.,.It,tnT eery.,. Tax Incremental District No. 38 Project Plan Amendment City of Janesville Prepared by Ehlers Page 124 SECTION 8: Detailed List of Estimated Project Costs The following list identifies the Project Costs that the City has made, expects to make, or may need to make in conjunction with the implementation of the District's Plan or this Plan Amendment. All projects identified and related costs reflect the best estimates available as of the date of preparation of this Plan Amendment. All costs are preliminary estimates and may increase or decrease. Certain Project Costs listed may become unnecessary, and other Project Costs not currently identified may need to be made. (Section 6 details the general categories of eligible Project Costs). Changes in Project Cost totals or the types of Project Costs to be incurred will not require that this Plan be amended. This Plan is not meant to be a budget nor an appropriation of funds for specific Project Costs, but a framework within which to manage Project Costs. Detailed List of Estimated Project Costs - Prior Project Plan Spent Original through Project ID Project Name/Type Plan 2022 Audit Remaining 1 Development Incentives 3,890,000 3,447,575 442,425 2 Streetscape Improvements 470,000 61,051 408,949 3 Administrative Expense 131,650 53,173 78,477 4 Financing Costs 83,800 45,954 37,846 5 Interest on Long Term Debt 1,263,044 132,298 1,130,746 Total Projects 5,838,494 3,740,051 2,098,443 Notes: Tax Incremental District No. 38 Project Plan Amendment City of Janesville Prepared by Ehlers Page 125 Detailed List of Estimated Project Costs' Remaining From Est.Cost Project ID Project Name/Type Prior Plan Amended Project Costs Totals 1/2 Mile Projects Est.Timing 1 Pavement removals/grading/earthwork 565,000 565,000 565,000 2024 2 Utility relocations/new installations 870,000 870,000 870,000 2024 3 Asphalt paving/concrete paving 1,000,000 1,000,000 1,000,000 2024 4 Removal of Existing Frontage Road 95,000 95,000 95,000 2024 5 New Frontage Road Alignment 365,000 365,000 365,000 2024 6 Development Incentives? 442,425 0 442,425 2020-2041 7 Streetscape Improvements? 408,949 0 408,949 2021-2041 8 Interest on Long Term Debt 1,130,746 695,094 1,825,840 2021-2041 9 Financing Costs 37,846 65,404 103,250 2020&2024 10 Ongoing Planning&Administrative Costs 78,477 206,523 285,000 2020-2041 Total Projects 2,098,443 3,862,021 5,960,464 2,895,000 Notes: Cost of Amendment: 3,862,021 1)Per information provided by City officials on January 25,2024. 2)The City will retain the identified projects from the Original Project Plan but does not have current plans to fund such projects. Tax Incremental District No. 38 Project Plan Amendment City of Janesville Prepared by Ehlers Page 126 SECTION 9: Economic Feasibility Study, Description of the Methods of Financing Estimated Project Costs and the Time When Related Costs or Monetary Obligations are to be Incurred This Section includes an updated forecast of the valuation increases expected within the District, the associated tax increment collections, a summary of how remaining Project Costs would be financed, and a projected cash flow demonstrating that the District remains economically feasible. Key Assumptions The Project Costs the City plans to make are expected to create an additional $17.4 million in incremental value by January 1, 2029. Estimated valuations and timing for construction of the Project are included in Table 1. Assuming the City's current equalized TID Interim tax rate of $17.37 per thousand of equalized value, and no economic appreciation or depreciation, the District would generate $10.6 million in incremental tax revenue over the 20-year term of the District as shown in Table 2. Tax Incremental District No. 38 Project Plan Amendment City of Janesville Prepared by Ehlers Page 127 Table 1 - Development Assumptions Commercial Hotel,Makerspace, Construction Construction Year Actual Multifamily Residential Annual Total Development and Activity Center Year Total Value Total Value Units Total Value Estimated Value per $147,024 1 2020 14,491,500 14,491,500 2020 1 2 2021 5,773,500 5,773,500 2021 2 3 2022 (941,000) (941,000) 2022 3 4 2023 0 2023 4 5 2024 0 2024 5 6 2025 0 2025 6 7 2026 1,665,900 16 2,352,382 4,018,282 2026 7 8 2027 7,399,765 7,399,765 2027 8 9 2028 6,000,000 6,000,000 2028 9 10 2029 0 2029 10 11 2030 0 2030 11 12 2031 0 2031 12 13 2032 0 2032 13 14 2033 0 2033 14 15 2034 0 2034 15 16 2035 0 2035 16 17 2036 0 2036 17 18 2037 0 2037 18 19 2038 0 2038 19 20 2039 0 2039 20 Totals 19,324,000 1,665,900 13,399,765 16 2,352,382 36,742,047 Notes: 1)Timing and value information as provided by City officials on February 7,2024. 2)Includes commercial development with an estimated cost to construct of$2,500,000. 3)Includes a hotel,marketspace,and activity center with estimated costs to construct of$10,500,000,$2,250,000,and$5,600,000 respectively. 4)Includes a residential development with an estimated cost to construct of$5,000,000.The 1.89 acre parcel is estimated to have a density of 8.5 units/acre. Tax Incremental District No. 38 Project Plan Amendment City of Janesville Prepared by Ehlers Page 128 Table 2 - Tax Increment Projection Worksheet Tax Increment Projection Worksheet Type of District Mixed Use Base Value ' 18,184,600 District Creation Date October 14,2019 Economic Change Factor f 0.0O Valuation Date Jan 1, I 2020 Apply to Base Value Max Life(Years) 20 Base Tax Rate $21.91 Expenditure Period/Termination 15 10/14/2034 Rate Adjustment Factor 0.009'. Revenue Periods/Final Year 20 2041 Extension Eligibility/Years Yes 3 Eligible Recipient District No Construction Economic Total Year Value Added Valuation Year Change Increment Revenue Year Tax Rate' Tax Increment 1 2020 14,491,500 2021 14,491,500 2022 $21.91 • 317477 2 2021 5,773,500 2022 20,265,000 2023 $18.59 376,763 3 2022 (941,000) 2023 19,324,000 2024 $17.37 335,643 4 2023 0 2024 0 19,324,000 2025 $17.37 335,643 5 2024 0 2025 0 19,324,000 2026 $17.37 1 335,643 6 2025 0 2026 0 19,324,000 2027 $17.37 335,643 7 2026 4,018,282 2027 0 23,342,282 2028 $17.37 405,437 8 2027 7,399,765 2028 0 30,742,047 2029 $17.37 533,965 9 2028 6,000,000 2029 0 36,742,047 2030 $17.37 638,180 10 2029 0 2030 0 36,742,047 2031 $17.37 638,180 11 2030 0 2031 0 36,742,047 2032 $17.37 638,180 12 2031 0 2032 0 36,742,047 2033 $17.37 638,180 13 2032 0 2033 0 36,742,047 2034 $17.37 638,180 14 2033 0 2034 0 36,742,047 2035 $17.37 638,180 15 2034 0 2035 0 36,742,047 2036 $17.37 638,180 16 2035 0 2036 0 36,742,047 2037 $17.37 638,180 17 2036 0 2037 0 36,742,047 2038 $17.37 638,180 18 2037 0 2038 0 36,742,047 2039 $17.37 638,180 19 2038 0 2039 0 36,742,047 2040 $17.37 638;180 20 2039 0 2040 0 36,742,047 2041 $17.37 1` 638,180 Totals 36,742,047 0 Future Value of Increment ' ,'10,634,375 Notes: 1)Tax rates shown through the 2024 revenue year are actual per DOR Form PC-202(Tax Increment Collection Worksheet). Tax Incremental District No. 38 Project Plan Amendment City of Janesville Prepared by Ehlers Page 129 Financing and Implementation Implementation of the Plan will require the buildout of public infrastructure within the ' mile surrounding the District. The City intends to finance such costs through the issuance of tax-exempt General Obligation debt with debt service to be paid from the tax increment generated by the District. Cost of issuance will be paid from bond proceeds. Any additional development incentives provided will be made on a "pay as you go" basis from tax increment generated by the new development within the District. The City's obligation to make payments will solely be limited to the available tax increment with specific terms to be negotiated and outlined in a developer agreement(s) for eligible projects. To the extent incremental revenues are less than projected, the full amount of the development incentive may not ultimately be paid. Based on the Project Cost expenditures as included within the cash flow exhibit (Table 3), the District is projected to accumulate sufficient funds by the year 2038 to pay off all Project Cost liabilities and obligations. The projected closure is based on the various assumptions noted in this Plan and will vary dependent on actual Project Costs incurred and the actual amount of tax increments collected. Tax Incremental District No. 38 Project Plan Amendment City of Janesville Prepared by Ehlers Page 130 Table 3 - Cash Flow Cash Flow Projection Projected Expenditures UIIIIIIIIIIIIIIIIIIIIMIIIMIIIIIIMI 2020 Taxable G.O.Bond 2024 G.O.Bond 53, 10,000 53,000,000 Bond Ongoing Tax Interest Debt Capitalized Total ted Date: 8/ Dated Date: 07/01/24 Capital Issuance Planning& Total Liabilities Year Increments Earnings Proceeds Interest Revenues Principal te Interest' Principal Est.Rate Interest Projects Year 2020 3,510,000 66,951 2020 2021 66,951 2021 2022 317,477 1,453 105,000 2.00% 65,348 2022 2023 376,763 150,000 2.00% 62,7982023 2024 335,643 3,000,000 155,000 200% 59,7482024 2025 335,643 160,000 2.00% 56,5982025 2026 335,643 165,000 2.00% 53,3482026 2027 335,643 170,000 2.00% 49,9982027 2028 405,437 170,000 1.25% 47,235 2028 2029 533,965 175,000 1.35% 44,991 2029 2030 638,180 638,1801 180,00011.40% 42,505 190,000 3.16% 94,277 15,000 521,782 116,398 416,420 4,890,571 2030 2031 638,180 638,1801 185,000 11.55% 39,766 195,000 3.16% 88,194 15,000 522,960 115,220 531,640 4,422,377 2031 2032 638,180 638,1801 190,00011.65% 36,765 200,000 3.17% 81,943 15,000 523,708 114,472 646,112 3,950,434 2032 2033 638,180 638,180 I 195,000 1.80% 33,443 210,000 3.18% 75,434 15,000 528,877 109,304 755,415 3,470,000 2033 _2034 _ 638,180 638,180( 200,000.11.90% 29,788.`_215_000 1 3,20% 68,655 15,000 528,443 109,738 865,153 3,055,000 2034 • 2035 638,180 638,180 1 205,000 12.00% 25,838) 225,000 I 3.35% 61,446 15,000 532,284 105,896 971,050 2,625,000 2035 2036 638,180 638,180( 210,000 12.05% 21,635) 230,000 1 3.5016 53,653 15,000 530,288 107,893 1,078,942 2,185,000 2036 2037 638,180 638,180 1 215,000 12.10% 17,225 1 240,000 1 3.60% 45,308 15,000 532,533 105,648 1,184,590 1,730,000 2037 2038 638,180 638,180 I 220,000 12.15% 12,603 1 250,000 I 3.75% 36,300 15,000 533,903 104,278 1,288,868 _1,260,000 2038 2039 638,180 638,1801 225,00012.20% 7,7631 255,0001 3.90% 26,640 15,000 529,403 108,778 1,397,645 780,000 2039 2040 638,180 638,180) 235_00012.25% 2,644 1 265,000; 3.95% 16,434 15,000 534,078 104,103 1,501,748 280,000 2040 2041 638,180 638,180 280,000.1 4.00% 5,600 15,000 300,600 337,580 1,839,328 0 2041 Totals Totals (2020-2041) 10,634,375 1,453 6,510,000 66,951 17,212,778 3,510,000 776,985 3,000,000 1,181,154 6,403,626 50,143 149,204 288,030 15,359,141 (2020-2041) Notes: I PROJECTED CLOSURE YEAR 1)The 2022 audit did not account for the interest payment due on the 2020 Taxable G.O.Bonds. 2)Rates based on 2/1/2024 Al rated sale plus 0.75%. LEGEND: I (CALLABLE MATURITIES -END OP EXP.PERIOD -- -ACTUA35 Tax Incremental District No. 38 Project Plan Amendment City of Janesville Prepared by Ehlers Page 131 SECTION 10: Annexed Property A tax incremental district cannot include annexed territory unless at least three years have elapsed since the annexation, or certain other requirements are met. None of the territory proposed to be added to the District was annexed during the prior three year period. SECTION 11: Estimate of Property to be Devoted to Retail Business Pursuant to Wis. Stat. § 66.1105(5)(b), the City estimates that less than 35% of the territory within the District will be devoted to retail business at the end of the District's maximum expenditure period. SECTION 12: Proposed Changes of Zoning Ordinances, Master Plan, Map, Building Codes and City Ordinances Zoning Ordinances The proposed Plan Amendment is in general conformance with the City's current zoning ordinances. Individual properties may require rezoning at the time of development. Master (Comprehensive) Plan and Map The proposed Plan Amendment is in general conformance with the City's Comprehensive Plan identifying the area as appropriate for mixed-use development. Building Codes and Ordinances Development within the District will be required to conform to State Building Codes and will be subject to the City's permitting and inspection procedures. The proposed Plan Amendment conforms to all relevant State and local ordinances, plans, and codes. No changes to the existing regulations are proposed or needed. Tax Incremental District No. 38 Project Plan Amendment City of Janesville Prepared by Ehlers Page 132 SECTION 13: Statement of the Proposed Method for the Relocation of any Persons to be Displaced Should the continued implementation of this Plan require relocation of individuals or business operations, relocations will be handled in compliance with Wis. Stat. Chapter 32 and Wis. Admin. Code ADM 92. SECTION 14: How Amendment of the Tax Incremental District Promotes the Orderly Development of the City This Plan Amendment promotes the orderly development of the City by creating opportunities for mixed use development and providing necessary public infrastructure improvements. Through use of tax increment financing, the City can attract new investment that results in increased tax base. Development will occur in an orderly fashion in accordance with approved plans so that the Projects will be compatible with adjacent land uses. Development of new uses in the District will add to the tax base and will generate positive secondary impacts in the community such as increased employment opportunities, the expected purchase of goods and services from local suppliers in construction of the Project, and induced effects of employee households spending locally for goods and services from retailers, restaurants, and service companies. Tax Incremental District No. 38 Project Plan Amendment City of Janesville Prepared by Ehlers Page 133 SECTION 15: List of Estimated Non-Project Costs Non-project costs are public works projects which only partly benefit the District. Costs incurred that do not benefit the District may not be paid with tax increments. Examples of non-project costs are: • A public improvement made within the District that also benefits property outside the District. That portion of the total Project Costs allocable to properties outside of the District would be a non-project cost. • A public improvement made outside the District that only partially benefits property within the District. That portion of the total Project Costs allocable to properties outside of the District would be a non- project cost. • Projects undertaken within the District as part of the implementation of this Project Plan, the costs of which are paid fully or in part by impact fees, grants, special assessments, or revenues other than tax increments. No improvements to be made within the District will benefit property outside the District. Furthermore, there will be no improvements made outside the District that will only partially benefit the District. Tax Incremental District No. 38 Project Plan Amendment City of Janesville Prepared by Ehlers Page 134 SECTION 16: Legal Opinion Advising Whether the Plan is Complete and Complies with Wis. Stat. § 66.1105(4)(f) :..•CITY OF JANESVILLE 0.0 Zt1ev. 4t 4 7,44 Peace February 20,2024 Jimsi Kubom Economic Development Director City of Janesville 18 N.Jackson Street P.O.Box 5005 Janesville,WI 53547-5005 RE: Project Plan Amendment for Tax Incremental District No.38 Dear Jimsi: - Wisconsin Statute 66.1105(4)(t)requires that a project plan for a tax incremental financing district include an opinion provided by the City Attorney advising as to whether the plan is complete and complies with Wisconsin Statute 66.1105. As City Attorney for the City of Janesville,I have been asked to review the above-referenced project plan amendment for compliance with the applicable statutory requirements. Based upon my review,in my opinion,the amended Project Plan for the City of Janesville Tax Incremental District No.38 is complete and complies with the provisions of Wisconsin Statute 66.1105. Yours sincerely,er Wald Klimczyk City Attorney it CITY ATTORNEY'S OFFICE CITY HALL • 18 N.JACKSON ST.,P.O.BOX 5005 •JANESVILLE,WI 53547-S00S •(608)7S5-315S• FAX:(608)755.3035 www.facebook.com/cityofjanesville www.cl.janesville.wi.us www twitter.com/City Janesville Tax Incremental District No. 38 Project Plan Amendment City of Janesville Prepared by Ehlers Page 135 SECTION 17: Calculation of the Share of Projected Tax Increments Estimated to be Paid by the Owners of Property in the Overlying Taxing Jurisdictions The following projection is provided to meet the requirements of Wis. Stat. § 66.1105(4)(i)4. Allocation of future tax increments is based on the projections included in this Plan and assumes the same proportions as the actual breakdown of tax collections for the 2023/24 levy year. Revenue School District Technical Revenue Year Rock County City of Janesville of Janeville College Total Year 2022 74,264 102,688 126,010 14,515 317,477 2022 2023 88,132 121,864 149,542 17,226 376,763 2023 2024 78,513 108,564 133,220 15,346 335,643 2024 2025 78,513 108,564 133,220 15,346 335,643 2025 2026 78,513 108,564 133,220 15,346 335,643 2026 2027 78,513 108,564 133,220 15,346 335,643 2027 2028 94,839 131,139 160,922 18,537 405,437 2028 2029 124,904 172,711 211,937 24,413 533,965 2029 2030 149,282 206,420 253,301 29,178 638,180 2030 2031 149,282 206,420 253,301 29,178 638,180 2031 2032 149,282 206,420 253,301 29,178 638,180 2032 2033 149,282 206,420 253,301 29,178 638,180 2033 2034 149,282 206,420 253,301 29,178 638,180 2034 2035 149,282 206,420 253,301 29,178 638,180 2035 2036 149,282 206,420 253,301 29,178 638,180 2036 2037 149,282 206,420 253,301 29,178 638,180 2037 2038 149,282 206,420 253,301 29,178 638,180 2038 2039 149,282 206,420 253,301 29,178 638,180 2039 2040 149,282 206,420 253,301 29,178 638,180 2040 2041 149,282 206,420 253,301 29,178 638,180 2041 Totals 2,487,573 3,439,691 4,220,902 486,208 10,634,375 Tax Incremental District No. 38 Project Plan Amendment City of Janesville Prepared by Ehlers Page 136