The Janesville City Council approves a $158,000 tax incremental financing agreement with a local business planning on buildings a 73,000 square foot addition.

Economic Development Director Gale Price says LKQ Midwest Inc has done several expansions over the last two decades.

In exchange for a $158,000 forgivable load, LKQ must construct the 73,000 square foot addition with a guaranteed increase in property value of $2.1 million.