Janesville proposes TIF districts
JANESVILLE — The Janesville City Council will be asked to approve a new concept in tax incremental financing districts at Monday’s council meeting.
TIF Nos. 30, 31 32 and 33 would allow TIF money to be used for projects within a half-mile of the TIF District. Those projects could be used to improve neighborhoods surrounding the proposed districts. This mechanism, recently approved by state law, allows the city to include development located near a TIF district without having to amend the TIF boundary.
Several of the proposed TIFs are being created to stimulate redevelopment in older commercial corridors.
-- TIF No. 30 is being created to stimulate mixed-use development of commercial and residential areas, eliminate blight caused by vacant buildings and stimulate redevelopment.
TIF 30 is located along both sides of Center Avenue from Wolcott Street to Covey Drive. It is about 167 acres and includes 85 parcels.
This TIF contains several possible projects.
The owner of the vacant parcel at Joliet Street and Center Avenue has expressed interest in developing a multi-tenant shopping and retail facility within several storefronts.
The owner of Blackhawk Shopping Center is interested in a major façade renovation.
The owner of the National Band music store at 2502 Center Avenue bought the vacant parcel to the north and may redevelop that site with a multi-tenant, mixed-use office/retail facility.
The new value is expected to generate $2.2 million in new property tax revenue over 20 years. The estimated cost of the TIF improvements is $1.9 million.
-- TIF 31 includes an older commercial area long West Court Street from Pine Street to Crosby Avenue.
No specific developments are planned.
Estimated cost is $1.5 million. The new value is projected to generate $1.9 million in new property tax revenue over the 20-year life of the TIF district.
-- TIF 32 would include four blocks of a mixed-use commercial/industrial redevelopment area along east Racine Street east of Interstate 39/90. Estimated cost of TIF projects is about $6.6 million. The new property tax revenue over 20 years is projected at $9.7 million.
-- TIF 33 includes a redevelopment area along Mineral Point Avenue and North Jackson and Franklin streets to stimulate the redevelopment of the area between the Mercy Hospital campus and the downtown.
Total estimated cost is $8.6 million. New property tax revenue over 20 years is estimated at $12 million.
Residents can speak about these and other matters at the beginning of the 7 p.m. meeting Monday in City Hall, 18 N. Jackson St.
Sep 20, 2008 at 12:43 p.m.
Suggest removal
The Draft TIF proposals are located here (large PDF documents, include maps):
http://www.ci.janesville.wi.us/citysite/...
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j'comments, TIF is not designed solely for shopping developments. The city's TIFs have included industrial and residential areas as well as commercial. The city's intent, as expressed in the Downtown Plan, is to connect the Mercy campus with the downtown via mixed-use development. I think they hope the old Accudyne building will become apartments for people in the medical field, for example.
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I am very concerned about the TIF here because of the historic nature of the Jackson Street district. The hospital was allowed to demolish several blocks of residential homes in Look West to create ... parking lots. Similar to the town and gown issues with colleges it becomes an institution that threatens the community around it. The city has definitely signaled that they view the Tallman House as a "gem" but view the "setting" as having comparatively little long-term value. Redevelopment along Mineral Point or Jackson would put the city's commitment to historic preservation in sharp question.
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The article should have noted that TIF 32 includes the proposed St. Mary's hospital site as well as undeveloped and industrial/commercial parcels. Clearly the city intends this to be a secondary gateway.
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The TIF 31 map includes the area occupied by Turf Equipment, which was indicated as the possible site of an "anchor" retailer a couple of months back. The article says no major developments are planned, though. Why the discrepancy? Did the project fall through?
Sep 20, 2008 at 1:18 a.m.
Suggest removal
TIF 33 is a waste. The hospital is a single-purpose institution, not a shopping destination. The owners of the property in the downtown area just rejected a BID. There's no point in having a TIF to establish a "business corridor" between the two.
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The city is actively trying to reduce it's support for the Tallman House, which sits directly between the hospital and downtown Janesville. If the city council wants to invest money in that area, how about creating a "Decay of the Downtown" diorama and revitalizing the old Tallman carraige barn to house it?
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Oops! I forgot, the city doesn't like carraige barns (apologies to Andreah).
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