The Janesville City Council hopes a tax deal for more downtown apartments can spur more development along the Milwaukee Street corridor.
They approved a $100,000 TIF agreement with Grafft Irrevocable Trust for five second-story apartments.
Economic Development Director Gale Price says the pay-as-you-go structure of the deal keeps the risk low for the city, which will essentially reimburse Grafft a portion of the taxes on the project to make the development economically viable.
The second floor of the buildings at 401 and 405 West Milwaukee Street used to be apartments back in the 1950s.
