Blackhawk Community Credit Union is asking the city of Janesville to cover site preparation costs for its proposed downtown headquarters instead of a more traditional tax increment financing deal.
Under the proposed arrangement, the city would pay an estimated $7.1 million upfront to acquire and demolish properties, relocate utilities, and perform an environmental cleanup, according to a city memorandum.
That contrasts with the city’s original offer—a 15-year, $6.1 million, pay-as-you-go TIF deal plus $1.9 million in upfront costs for an $8 million city investment.
Read the memorandum.
Read the story.
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