If Janesville City Council approves a TIF development agreement Monday, Shine Medical Technologies will likely move their headquarters and 80 jobs to 101 Milwaukee Street.
Janesville Economic Development Director Gale Price says the proposed agreement entails a TIF development loan of 260,000 dollars and the refinancing of a 125,000 dollar loan from the original development project in 2009.
He says it’s an all-around plus for Janesville’s development.
If the council approves the agreement and Shine Medical Technologies moves in, Price says it’s likely mean many of those 80 employees will put down roots in Janesville.
The proposed agreement is the second recent attempt at renovating the the former Helgesen Office Building — the developer renovated most of the building around 2009.
The total 560,000 dollar redevelopment of the sixth floor of the building is expected to be completed by December if city council signs on.
