Janesville City Council Approves TID Development Agreement for W. Milwaukee St. Property

According to an update from the City of Janesville, at their Council meeting on Monday they approved a Tax Increment Financing Development Agreement to redevelop a property at 303 W. Milwaukee St. This TID Development agreement sees the City provide $200 thousand in up-front assistance with the assistance repayment through property taxes over 15 years. The developer will reintroduce four upscale apartments to the building with work beginning in March of 2022. This project will guarantee an increase in value for the property from $182, 300 to $850,000. It will also ensure a guaranteed new increment of $14,970. If you have any additional questions, contact Economic Development Director Gale Price at (608) 755-3059.