A Janesville chiropractor plans to expand into a long-vacant former bank building across the street from the Rock River.

As part of a tax incremental financing agreement approved by the Janesville City Council this week, the owner of the property at 100 West Racine Street would receive $114,000 over the course of 15 years, in exchange for creating over $382,000 in new property value.

Economic Development Coordinator Nancy McDonald says the property owner plans to renovate the structure’s interior and replace the mechanicals.

The building’s new owner would be Riversedge Chiropractic, which has outgrown it’s current space at 111 North Main Street.