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there was no reactor or highly radioactive material used in the process and that the facility would be licensed by the Wisconsin Department of Natural Resources. He said the project would involve the construction of an 82,000 square-foot production facility on the west of Gateway Boulevard north of the Gateway Business Park. The company will be investing $194 million into the facility, which plans to begin production by 2013. He said that the company plans to create over 150 jobs by 2016. He said that the City of Beloit and the State of Wisconsin both offered incentive packages to attract the development. Councilor Luebke moved to adopt, second by Councilor Haynes. Councilor Van De Bogart asked how the Wisconsin job creation tax credit would work, and Mr. Janke indicated that the state would verify employment over the course of three years and provide a percentage of the total tax credit to the Company based on the number of Wisconsin residents it employs. Councilor De Forest indicated that she was encouraged by the Company's commitment to working with the City to hire qualified residents from Beloit and the surrounding area. She said that after her research on the development and the 90-minute discussion during the workshop, she believes that this development is in the best interest of the City and its residents. Councilor Spreitzer echoed these comments. Mr. Janke explained that this development could spur additional development in the medical field in the area, just as what happened with the food cluster in the Gateway. Councilor Spreitzer asked about Section 7.c. in the development agreement, and Mr. Janke indicated that the section referred to up to a triple payment in the last year if the TID runs out before the developer has received the full tax benefit. Manager Arft indicated that there was not a likely scenario where the City would have to pay an additional payment in the future. Councilor Haynes inquired as to how much of the $194 million investment would be the building and how much would be personal property. Mr. Janke indicated that the state assesses manufacturing and the City did not feel comfortable providing an estimated assessment for this unique use. Manager Arft clarified a previous comment regarding a requirement to hire from within the City limits. He indicated that the City has never required a private company to require residency of employees because the development agreement is a contract is between the developers and the City. He also indicated that the company is committed to advertising these jobs in Beloit and working with the City to encourage relocation of other employees. Councilor Luebke indicated that he supports the agreement and the project because of the commitments made by the developers. The motion carried 6-0. File 8505 b. Resolution awarding Contract C11-24, Gantry and Gantry Plaza. City Engineer Mike Flesch explained that this was the second bidding of the project and that three bids were received. He said that funding for the project was coming from the 2010 Capital Improvements Budget, the Tax Increment District (TID) 5, and a private donation from the Fat Wallet Charitable Foundation. Councilor Luebke moved to adopt, second by Councilor Haynes. Councilor Van De Bogart asked about the re-engineering of the project and the painting process, and Mr. Flesch indicated that the City staff discussed some of the details and lighting with a structural engineer to redesign the structure in a more cost-efficient manner. He indicated that the additional paint process would add cost but would last for several decades. Councilor De Forest asked Downtown Beloit Association (DBA) Executive Director Kathleen Braatz to explain the public participation process, and Ms. Braatz indicated that the DBA went through an extensive process to develop and redevelop the project. Ms. Braatz said that Beloit had just won the Main Street Award, which is an once-in-a-lifetime award, and that constructing the Gantry feature would allow businesses to see with their eyes and then invest. Ms. Braatz also indicated that this is a historic year for Fat Wallet and that they are being great stewards by donating $40,000 to this project. Councilor De Forest asked Mr. Flesch to reiterate the funding sources, he said that the project would be paid for by the taxes from the downtown businesses who wanted the project and a private donation. Councilor Haynes indicated that the downtown was improving by leaps ar bounds and this project would continue those improvements. Councilor Spreitzer asked if this project wo.. . have any impact on the Farmers' Market, about the future maintenance costs, how long the structure would last, and about creating a large feature in the relative small space. Councilor Spreitzer also said that he recognized that this has been a long process, but he has done a lot of research and was prepared to defend the public process and the project. Mr. Flesch indicated that they have allowed for pedestrian access through the construction and would work only Monday through Friday. He said that an additional coat of paint would be needed in 25-30 years and said that it was difficult to visualize the structure from a set of plans but it would create the sense of a place that the downtown businesses desire. The motion carried 6-0. File 8494 11. At 8:14 p.m. Councilor De Forest moved to adjourn, second by Councilor Spreitzer. The motion carried 6-0. S 0~ ~ Reb ca S. Hous man, City Clerk www.ci.beloit.wi.us Date approved by Council: July 18, 2011