The Janesville City Council gives redevelopment of the former Menards property the green light.
Economic Development Director Gale Price says in return for almost tripling the value of the property, the City would fill a $2.8 million funding gap on a pay as you go basis.
The plan is to remodel the space to allow for four new national retailers.
The Council approved the tax incremental financing agreement for the project in a unanimous vote Monday night.
