The Janesville City Council approves an amendment to the tax incremental financing agreement with the owner of the building at 4260 Capital Circle which currently houses IPM Foods.

Economic Development Director Gale Price says the developer is looking to build a 23,000 square foot addition that would hold a new freezer.

In exchange for a $200,000 forgivable loan, the developer will guarantee a property value of $6.9 million.