Paul Benson, Council President | Janesville City website
Paul Benson, Council President | Janesville City website
The City Council of Janesville met on Monday, February 26, and unanimously approved a resolution to authorize the redevelopment of the former Serta Simmons Bedding facility located at 1809 Adel Street. The resolution allows the City Manager to enter into a Tax Increment Financing (TIF) Development Agreement with TI Janesville XII LLC, a subsidiary of Zilber Property Group.
TI Janesville XII LLC's recent acquisition of the building is part of a broader strategy aimed at business retention and expansion. The firm plans to renovate the 286,251 sq. ft. facility, offering a new opportunity for redevelopment and potentially attracting new businesses to the area.
According to Council Policy 61A, the redevelopment aligns with the city's goals of diversifying and expanding its industrial tax base by attracting growing industrial employers and revitalizing older industrial areas. The project falls under Tax Increment District (TID) 42, established in 2023 to stimulate redevelopment efforts, with the 1809 Adel building identified as a targeted project.
City officials engaged in discussions with TI Janesville XII LLC to revitalize the aging and vacant facility, with plans to create office and manufacturing space. The redevelopment project is expected to enhance the building's functionality and market appeal, catering to the demand for subdivided spaces that are sought after by prospective tenants.
Economic Development Director Jimsi Kuborn can be contacted at (608) 755-3059 for further information on the redevelopment project.
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