HomeMy WebLinkAboutRDA Full Agenda 11.20.19 REDEVELOPMENT AUTHORITY MINUTES
September 18, 2019
PRESENT: Thomas Belter,Jason Lasky, Steve Hintz, Lori Palmeri, Susan Panek
EXCUSED: Jack Bermingham,Archie Stam
STAFF: Allen Davis, Executive Director/Community Development Director; Darlene
Brandt, Grants Coordinator;Andrea Flanigan, Recording Secretary
Chairperson Palmeri called the meeting to order at 4:00 pm. Roll call was taken and a quorum
declared present.
The minutes of August 13, 2019 and August 13, 2019 Closed Session were approved as distributed.
(Hintz/Belter).
Public Hearing:
Spot Blight Designation 1124 High Avenue
Chairperson Palmeri opened the public hearing on the proposed spot blight designation for 1124
High Avenue.
No one appeared and the public hearing was closed.
Res. 19-25 Approve Spot Blight Designation;Accept Donation of Property at 1124 High
Avenue
Motion by Belter to move Res. 19-25.
Seconded by Hintz.
Mr. Belter questioned if there were any costs associated with accepting the property.
Mr. Davis responded there will be closing costs, demolition costs and maintenance of the property
until it is sold.
Ms. Palmeri questioned how much it would cost to demolish.
Ms. Brandt stated it would cost$10,000 to$15,000 for asbestos abatement and demolition.
The item was called. Motion carried 5-0.
RDA Minutes September 18,2019 Page 1
Res. 19-26 Approve Land Disposition of Vacant Lot on Frankfort Street;$5,000
Motion by Hintz to move Res. 19-26.
Seconded by Belter.
Pam Ruder with Greater Oshkosh Healthy Neighborhoods (GO-HNI) stated GO-HNI has
purchased the property at 83 Frankfort St. which is adjacent to the RDA owned property at 87
Frankfort St. GO-HNI would combine the two lots if the RDA approves the land sale and add a
garage to the existing home that will be rehabbed. Go-HNI would also work with the property
owner on the corner of Harney Avenue and Frankfort to create a larger lot since the garage is right
on the property line.
Ms. Palmeri questioned who would demolish 87 Frankfort and how much did demolition cost.
Mr. Davis stated the home is already demolished.
Ms. Brandt stated all demolition costs were under$1,000.
The item was called. Motion carried 5-0.
19-27 Approve Land Disposition of Vacant Lot;400 Block of Boyd Street; $10,000
Motion by Belter to move Res. 19-27.
Seconded by Lasky.
There was no discussion.
The item was called. Motion carried 5-0
Mr. Davis stated staff received an e-mail from Mr. Steiner regarding resolution 19-29 stating he is
withdrawing the offer at this time and will be at the meeting to explain.
Mr. Belter motioned to move 19-29 in front of 19-28 to reposition the agenda.
Seconded by Hintz
The item was called. Motion carried 5-0
Res. 19-29 Approve Offer to Purchase Vacant property on South Main Street between 71h Avenue
and 81h Avenue; Bridgeview Holdings,LLC
Mr. Steiner 3232 Shorewood Drive Oshkosh, on behalf of Bridgeview Holdings, is withdrawing the
offer at this time because plan for 851 S. Main St will not be executed immediately. If there is other
interest or offers from others on the property, Bridgeview does not want to hold up development.
Even after reducing the scope of work for 851 S. Main Street, costs are still very high. Oracular in
the meantime will be moving to 1302 S. Main Street, which is now Davis Painting. Once 851 S.
Main Street is finished, Oracular could move into the space originally planned.
RDA Minutes September 18,2019 Page 2
Ms. Panek inquired if Orcaular moves into 1302 S. Main who will occupy 851 S. Main St.
Mr. Steiner stated Oracular is moving into 1302 S. Main Street because their current location is
being leased to someone else in 2-3 months. 851 S. Main St will require months of work and Davis
painting will be ready much sooner. The exterior for 851 S. Main Street will be finished first and
will continue the process of filling the tenant spaces with Oracular filling a portion of the building.
Mr. Davis questioned if Bridgeview Holdings would be interested in the RDA owned property
once 851 S. Main St. is completed.
Mr. Steiner stated they would be interested once it is finished. They do not want to tie up a
property if something else would come along for this site.
Motion by Belter to withdraw Res. 19-29.
Seconded by Lasky.
The item was called. Motion carried 5-0.
Res. 19-28 Approve Option to Purchase Vacant property on South Main Street between 7th
Avenue and 81h Avenue;Jeff Fulbright
Motion by Belter to move Res. 19-28.
Seconded by Lasky.
Mr. Hintz questioned if the City would need to provide an environmentally clean site.
Mr. Davis stated the City and RDA have sold land as is in the past. There is no remediation plan
for this site at this time.
Mr. Hintz inquired if the site would have significant clean up.
Mr. Davis stated if history in this area is any indication there could be clean up costs in the 100's of
thousands for this site.
Mr. Belter stated the amount of clean up required is dependent on what type of development
would occur on site.
Ms. Panek inquired if the option was to have until July 1611, to make a purchase. Would the site
need to be clean by the time it was sold.
Ms. Brandt stated clean up of the site would have to be part of a development agreement no matter
who developed the site.
Ms. Palmeri questioned if the appraisal for $150,000 takes into account the contamination on the
property.
RDA Minutes September 18,2019 Page 3
Mr. Davis responded yes. The appraisal takes into consideration the contamination.
Mr. Lasky inquired if the developer of the property takes steps to find out more about the
contamination of the property does the City have a right to know what information is found.
Ms. Brandt stated there would be an access agreement under the option to purchase that would
need to be entered into that would address providing the City with reports regarding
contamination. In the past this has been in the agreements.
Ms. Palmeri questioned if the RDA is comfortable giving the developer the option on the property
until July 16t'' and leave those other discussion points to be addressed in the development
agreement and access agreement.
Mr. Lasky inquired if the option could be through March for due diligence.
Ms. Brandt stated if drilling is required for the due diligence, it may be difficult during the winter
months when the ground is frozen.
Mr. Hintz stated the proposal is too risky for the RDA to consider. There are a lot of answers to fill
in before it should be considered and does not feel comfortable moving the proposal along.
Mr. Belter stated there are many places this development could go in the Sawdust District. It may
be better suited further south in the district if it is going to turn into more manufacturing of beer.
There is no firm financing or assurances which should be reviewed before it goes too far. He stated
there is a Sawdust District master plan being created and would like to see the plan before making
an decisions about what type of development is best suited for this property.
Ms. Palmeri inquired the option should be laid over until the Sawdust District Plan is approved.
Mr. Davis stated he has seen a draft of the plan but it is not quite ready to be distributed.
The item was called. Motion denied 5-0.
Executive Director's Report
Mr. Davis discussed the land acquisition and disposition policy that will be going to Council in
October. The RDA is involved in the acquisition and disposition of RDA owned land in the City.
Mr. Belter inquired how the policy would be changed if someone wanted to go a different
direction or restrategize with the land acquisition and disposition process.
Mr. Davis stated the RDA has worked with staff and Council over the years to change direction in
some instances. Years ago there was very little residential redevelopment occurring and over the
years efforts have been focused in neighborhoods at the request of RDA, Council and
RDA Minutes September 18,2019 Page 4
neighborhood associations. RDA and Council would have a collaborative role in changing the
policy or strategies for this type of activity.
Ms. Lorenson stated Fox Valley Pro Basketball filed Chapter 11 bankruptcy which is a
reorganization. The RDA has some interest because of the development agreement but mostly
because the RDA is the owner of the land. The City has an interest in the TIF payments and bills
that are outstanding from Fox Valley Pro Basketball, Inc. for services and utilities. The City has
filed a motion to assume or reject the development agreement. If they assume the development
agreement, they still may not close on the property right away. Staff has been working with
outside council to assist with the bankruptcy. The primary goals moving forward is to support the
Arena,the TIF district and the Sawdust District.
The RDA agreed those are the interests and goals that should be pursued.
The RDA and attorney further discussed some of the details of the bankruptcy filings.
Mr. Davis provided updates to the RDA on the Executive Director's Report.
Motion by Belter to convene into Closed Session related to the negotiation of land for slum and blight
elimination in the 300 block of Pearl Avenue pursuant to Section 19.850)(e) to discuss bargaining options,
strategy, and parameters where competitive bargaining reasons require a closed session.
Seconded by Panek
Motion carried 5-0.
RDA Open session reconvened at 5:00 PM. Roll call was taken and a quorum declared present.
There was no further discussion. The meeting adjourned at approximately 5:00 PM.
(Panek/Belter)
Respectfully submitted,
Allen Davis
Executive Director
RDA Minutes September 18,2019 Page 5
CITY OF OSHKOSH
REDEVELOPMENT AUTHORITY
City Hall Room 404
September 18,2019
CLOSED SESSION MINUTES
CALL TO ORDER (Chairperson Palmeri) 4:50 pm
ROLL CALL
_X—Thomas Belter
Jack Bermingham
_X—Lori Palmeri
X Steve Hintz
_X—Jason Lasky
_X—Sue Panek
Archie Stam
ALSO PRESENT: Allen Davis, Executive Director/Community Development Director;Darlene
Brandt, Grants Coordinator;Andrea Flanigan Recording Secretary
Discussion held regarding negotiations for slum and blight elimination in the 300 block of Pearl
Avenue.
A motion was made and seconded to adjourn.
Carried by voice vote.
The closed session meeting adjourned at approximately 5:00 PM.
Respectfully submitted,
Allen Davis
Executive Director/
Community Development Director
TO: City of Oshkosh Redevelopment Authority
FROM: Allen Davis, Community Development Director
DATE: November 14, 2019
SUBJECT: November 20, 2019 RDA Agenda items
19-30 Approve Offer to Purchase Vacant Property on South Main Street between
711, Avenue and 811, Avenue; Alexander Bishop Real Estate Capital Markets,
LLC ($1.00)
19-31 Approve Offer to Purchase Vacant Property on South Main Street between
7ffi Avenue and 8ffi Avenue; Oshkosh Bier & Brewing, LLC ($60,000.00)
19-32 Approve Offer to Purchase Vacant Property on South Main Street Between
7t1i Avenue and 8a,Avenue; Sawdust District Lofts-Oshkosh, LLC ($1.00)
19-33 Approve Offer to Purchase Vacant Property on South Main Street between
7t''Avenue and 8t''Avenue; Bridgeview Holdings, LLC ($55,802)
BACKGROUND
The RDA has received four proposals on the subject property based on the Request for Proposal
recently issued. The RDA had considered offers at their July and September meetings earlier this
year. Action was deferred. An appraisal of the property was ordered this summer and the
appraisal for the property came back at$150,000. The four offers are now pending.
The Sawdust District includes the parcel within the boundary and has identified the use as
parking and mixed use. The site is contaminated and would require remediation/capping,
especially along the frontage of Main Street.
Each respondent will be presenting their plans to the RDA in closed session. After hearing all
four proposals in closed session, the RDA will convene in open session to determine which
proposal, if any, should be pursued.
REQUEST FOR PROPOSALS
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700 Block, S Main Street
Between 7tI1 and 8tI1 Avenue, west of S. Main Street
City of Oshkosh, WI
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Oshkosh
The Redevelopment Authority (RDA) of the City of Oshkosh seeks proposals from
qualified developers for redevelopment of the 700 Block of South Main Street, between
7th and Sth Avenues, on the west side of South Main Street, within the South Shore
Redevelopment Area and the proposed Sawdust District. The project should
complement the surrounding urban environment as well as incorporate and utilize the
entire site.
1. DEVELOPMENT GOALS
The RDA encourages submission of a plan for a creatively designed multi-family
residential or mixed use commercial/multi-family development. Commercial uses
should take advantage of high visibility provided along South Main Street.
2. PROPERTY DESCRIPTION
The frontage along South Main Street is approximately 180 ft. and 330 ft. deep and is
bordered by South Main, 7th Avenue and 8th Avenue.
3. AREA CONDITIONS
The property is within the South Shore Redevelopment Area which generally
contains a mix of older manufacturing, light commercial and residential uses. It is
located in relatively close proximity to the City's main water features the Fox River
and Lake Winnebago.
The areas immediately to the south, and west are primarily commercial, industrial
and residential. Some of the area to the west is a hub of small businesses which
provides an easy walk to area restaurants, retail establishments,entertainment
venues and service businesses.This area promotes a growing desirability and
demand, especially by millennials,young professionals,and/or students attending
the University of Wisconsin Oshkosh, which is a short walk west of S. Main Street.
21 :If" agr:
The area to the north consists of commercial or mixed commercial/residential uses. The
area to the south contains an older commercial structure proposed for redevelopment.
The area to the east contains a commercial business and vacant buildings slated for
demolition.
4. PROPOSED ZONING AND LAND USE
The site is zoned Urban Mixed Use and permits multi-family, light commercial, and
mixed use commercial/residential uses. The City is open to rezoning the site to apply a
Planned Development Overlay which will provide more flexibility in development
design while providing safeguards to ensure orderly and compatible development.
Future uses of the area are envisioned to be mixed commercial, entertainment and
residential.
Please refer to the City of Oshkosh Zoning Ordinance for regulations regarding
setbacks, land uses/permitted/conditional uses, parking, landscaping, storm water
management, etc. which can be accessed on the City's website at the following link.
htti2s://www.ci.oshkosh.wi.us/PlanningServices/Zoning0rdinanceMa]2s.aspx
5. TERMS AND CONDITIONS
The site has been valued at $150,000 based on an appraisal obtained from Vogels
Buckman Appraisal Group. At the time of conveyance the developer would be
expected to provide full payment of the value of the property unless a write down is
agreed upon by the Redevelopment Authority, the Oshkosh Common Council, and the
selected developer. A decision by the RDA and the City to consider a write down
would be based on proof of need and the value and quality of the project. However, the
RDA and the City will work with interested developers on attractive disposition terms
to facilitate high quality projects.
6. PROPOSAL REQUIREMENTS
General Physical Development Requirements:
All new construction must be compatible with the surrounding area and meet
or exceed the requirements of the Zoning Ordinance.
3 1 .I[" g r:
Porches, decks and balconies shall have no exposed wood (stained or
painted wood is acceptable).Joists and other structural elements shall not
be visible.
Mechanical and utility penetrations,utility facilities, drainage pipes, fixtures
(other than lighting) and the like shall not be located on building facades
visible from the right of way or any building entry area, and where present,
must be fully screened.
All sides/elevations of a given structure shall have the same finishing
materials and design quality.
Exterior lighting must be compatible with the style and scale of the structure(s).
Site amenities shall include secure bicycle parking area for temporary use
by guests and residents, which should be located to the side or rear
facades.
Window air conditioning units will not be permitted on the street facing facade
or on a facade visible from the right-of-way.
Proposal Content and Organization:To achieve a uniform review process and a degree
of comparability, the proposals should be organized in the following order and contain
all of the following elements:
A. Title Page: Show the proposal title, name of firm, address, telephone
number(s), name of a contact person, date, and other relevant company
information.
S. Developer Credentials: Provide a narrative (maximum 2 pages) describing the
developer's background,history, and construction experience, including
comparable projects successfully completed by the developer.
C. Team Members: State the names and titles of key members of your
development team and provide resumes for the identified members.
D. Developer Legal Structure: Provide evidence of corporate status including,
where applicable,Articles of Incorporation or a partnership certificate/or
agreement. In addition, identify by name and title entities holding an
ownership interests of 20% or more.
E. Project Description: Provide a narrative (maximum 2 pages) describing what is
proposed for construction, demolition cost (if any), environmental costs (if any),
and acquisition of the land. Include an explanation of the exterior design
concept and the expected timetable for construction.
F. Concept Plan: Submit a conceptual site plan showing initial ideas for
building placement, parking layout, access drives, storm water features, and
landscaping. Preliminary building elevations should be included.
G. Financing Plan: Provide a description of anticipated general financing for
the project. Include the following details:
1) Required investment and expected level of RDA participation in
the project (if any).
2) State of developer's financial ability and resources at the developer's
disposal.
3) Business concept including target market for the planned project and
how the completed project would be marketed.
4) Offer price for the property.
Submittal Requirements: Written proposals must be received by the Redevelopment
Authority by Monday, November 11, 2019 at 2:00 PM and submitted to:
Redevelopment Authority
Community Development Department
215 Church Avenue, Room 201
Oshkosh, WI 54901
Three (3)bound original (hardcopy)of the completed proposal
e One (1) digital copy of the completed proposal (CD, USB, or DVD).
No proposals will be accepted via email or fax.
The RDA Board will select and recommend approval of proposals that enable the
community to best realize the objectives for the South Shore Redevelopment Area and
proposed Sawdust District. The RDA reserves the right to reject any and all proposals.
51 .Page
Submittals that meet the requirements of the RFP will be scheduled for review and a
tentative oral presentation to the RDA. The RDA will determine whether they wish to
accept, reject or seek additional information on a submittal.
After a proposal is selected by the RDA, a Term Sheet reflecting the basic provisions of
a Developer Agreement will be prepared by City staff for review and approval by the
developer, RDA and Common Council.
7. Questions and Contact Information:
Allen Davis
Director
Community Development
PH: (920) 236-5055
Email: adav:a:s(coc:n.os:hJkos:h.w:i.us
Darlene Brandt
Grants Coordinator
PH: (920) 236-5029
Email: dbrandt@ci.oshkosh.wi.us
Kelly Nieforth
Economic Development Manager
PH: (920) 236-5045
Email: knieforth@)ci.oshkosh.wi.us
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REDEVELOPMENT AUTHORITY OF THE CITY OF OSHKOSH, WISCONSIN
NOVEMBER 20, 2019 19-30 RESOLUTION
(CARRIED LOST LAID OVER WITHDRAWN )
PURPOSE: APPROVE OFFER TO PURCHASE VACANT PROPERTY ON SOUTH
MAIN STREET BETWEEN 7TH AVENUE AND STH AVENUE;
ALEXANDER BISHOP REAL ESTATE CAPITAL MARKETS, LLC ($1.00)
BE IT RESOLVED by the Redevelopment Authority of the City of Oshkosh that
the offer to purchase in the amount of $1.00 submitted by Alexander Bishop Real Estate
Capital Markets, LLC or its Assigns, for the vacant property on the west side of South
Main Street between 711, Avenue and St" Avenue is hereby accepted and the proper
officials are hereby authorized and directed to execute any and all documents necessary
for purposes of same.
700 S MAIN
TOWNHOMES
Alexander & BishopReal Estate Capital
Markets, LLC
300 N Main St Suite 300
Oshkosh, W154901
J. Peter Jungbacker
pjungbacker@alexanderbishop
(920) 203-1790
John Povolny
jpovolny@alexanderbishop.com
(920) 850-3209
November 11, 2019
Alexander& Bishop
FIRM OVERVIEW
Alexander & Bishop Real Estate Capital Markets, LLC of Oshkosh,
Wisconsin, is a real estate development, management, and
investment banking company founded in 1993. Focused primarily in
Wisconsin, they develop, acquire, manage and own commercial real
estate, including office, retail shopping centers and multi-family
residential projects.
To date Alexander & Bishop Real Estate Capital Markets, LLC and its
affiliates have developed over 6,000,000 square feet of shopping
centers, office buildings, industrial warehouses, and multi-family
apartment communities.
L41 I M
Alexander& Bishop
PROJECTS DEVELOPED IN
OSHKOS"
i
River Place Apartments
1335 Summit Ave
Concord Place Apartments
151 Dawes St
Crossing Morgan A
g 9 p artments
• 495 Pearl Ave
Market Fair
1500 Block Koeller St
Westowne
i
• 2231 Westowne Ave
20th Street
i
• 1621 W 20th St
� F
University Lofts
1615 W New York SttV,
Other portfolio assets in Oshkosh:
• Bishops Place Apartments (1627 Elmwood Ave)
® 300 N Main St
• 440 N Main St
• Bent Block Apartments (470 N Main St)
® Lakeview Terrace Apartments (1191 High St)
• University Flats (1174 High St)
Alexander& Bishop
DEVELOPMENT TEAM
Peter Jungbacker— Member
Logan Jungbacker— Director of Asset Management
Erik Jungbacker— General Counsel
John Povolny — Financial Analyst
Alexander& Bishop
J. PETER JUNGBACKER
300 NORTH MAIN STREET,SUITE 300
OSHKOSH,WI 54903-0800
PHONE(920)233-7219 FAX(920)235-2290
pjungbacker 0(alexanderbishop.com
Education
University of Wisconsin-Madison,Juris Doctor(JD)
University of Wisconsin-Madison,Master of Business Administration Finance
(MBA)
University of Wisconsin-Madison,Master of Science Real Estate Investment
Analysis (MS)
University of Wisconsin-Madison,Bachelor of Arts(BA)Economics
Real Estate Experience
1993 to present-Alexander&Bishop Real Estate Capital Markets,LLC,
Oshkosh,WI,Member
Real estate development,investment and management film. Developer of
shopping centers and multifamily communities.
2000 to 2012-University of Wisconsin-Oshkosh College of Business
Administration Instructor
Course 338 -Real Estate Finance and Capital Markets
1980 to present-Century Capital Group Ltd.,Oshkosh,WI,
President/Principal
Acquisition,development and property management firm with portfolio
emphasis on warehouse and distribution facilities,residential apartment
communities and retail shopping centers.
1974 to 1980-Urban Guild,Inc.,Madison,WI,President
Real estate research,appraisal valuation and market analysis company.
Residential and retail market analysis valuation consultation and property tax
appeal representation.
Professional Memberships
Urban Land Institute(ULI)
Mortgage Bankers Association(MBA)
American Real Estate&Urban Economics Association(AREUEA)
American Real Estate Society(ARES)
Warehouse Education and Research Council(WERC)
International Warehouse Logistics Association(IWLA)
International Council of Shopping Centers(ICSC)
Wisconsin State Bar Association
National Trust for Historic Preservation
Commercial Securitized Mortgage Association(CMSA)
Licensed Wisconsin real estate broker
Alexander& Bishop
Logan Jungbacker
.151 Dawes St. #102
Oshkosh, WI 54901
EDUCATION
- University of Wisconsin-Madison, B.A. History, 2015
- The Williston Northampton School, H.S. Diploma, 2007
PROFESSIONAL HISTORY
Alexander & Bishop Real Estate Capital Markets, LLC Oshkosh, W1
2018 to Present- Director, Asset Management
2016 to 2018 -Asset Manager
Nobadeer Capital, LLC Oshkosh, W1
2019,Managing Member, Single family investment properties
Neenah High School Varsity Boy's Lacrosse Neenah, W1
2018 to Present-Assistant Head Coach
■ 2018 Assistant Coach of the Year, Bay Valley Lacrosse
Conference
2017 to 2018 Offensive Coordinator
• 2017 Bay Valley Lacrosse Conference Champions
Marcus & Millichap Austin,TX
2015 to 2016-Associate, Multi-Family Investment Sales
Apartment Sales in Austin and San Antonio, TX
Professional Affiliations
- American Law Institute Continued Legal Education (ALI-CLE), Member
- Urban Land Institute(ULI), Member
- International Council of Shopping Centers (ICSQ, Member
- Mortgage Bankers Association(MBA), Member
- Wisconsin Real Estate Alumni Association (WREAA),Associate
- National Association of Home Builders (NAHB), Member
- National Apartment Association, (NAA), Member
Alexander& Bishop
Erik Jungbacker
312 Pine Street,New Orleans,LA 70118
ejungbacker@gmail.com
(504)287-9293
Professional Experience
ALEXANDER AND BISHOP REAL ESTATE CAPITAL MARKETS LLC Oshkosh,WI&
Managing Member&General Counsel New Orleans,LA
June 2012—Present
• Principal executive and owner of family's mid-sized commercial real estate company.
• Lead negotiator for 100+commercial tenants:including roughly 70 public companies(Walgreens,Starbucks,
Best Buy,Ross Dress for Less,Ulta Beauty,regional grocery operators,etc).
• Lead financier of over$100 Million in transaction volume,
• Extensive investment banking and securitization experience.
• Sole developer of roughly 40,000 square feet in new construction-representing over$10 Million of
construction project finance and management since 2014.
• Oversight of legal,property management,leasing and marketing functions,managed 9 direct reports,over 60
employees and numerous third party vendors and service providers,
• www.alexanderbishop.com
DOWNTOWN DEVELOPMENT DISTRICT New Orleans,LA
Real Estate Development Manager June 2010—June 2012
• Provided economic development services in New Orleans'Central Business District as government
representative for over$2 billion in real estate development activity.
• www.neworleansdowntown.com
FIRSTLINE SCHOOLS New Orleans,LA
Teacher October 2004—May 2010
• Taught a variety of subjects(K-8 grades)pre and post Hurricane Katrina. ,
• Helped restart SJ Green and Arthur Ashe Charter schools in 2005 and 2007 in both operational and
instructional roles.
• Responsible for the highest student test results(6111 and 7111 social studies)in 1,200 student network in 2010.
• Volunteer soccer coach for 31 and 41h grade afterschool soccer program,8 hours per 'week(2014-present)
• www.firstlineschools.org
Education
TULANE UNIVERSITY LAW SCHOOL May 2014
Juris Doctor
Admitted to New York State Bar
Additional Education: Degree Awarded Date
Tulane University—A.B.Freeman School of Business Master of Science—Finance 2009
University of New Orleans Master of Business Administration 2008
University of Wisconsin Bachelor of Ails—History 2004
Phillips Academy Andover High School Diploma 1999
Alexander& Bishop
7
John Povoiny
jpovolny((_�alexaiicierbishop.cotii
920-850-3209
Oshkosh,WI 54901
Education
University of Wisconsin-Madison,School of Business Madison, 1,171
BBA:Real Estate&Urban Land Economics 2018
Professional Experience
Alexander&Bishop Real Estate Capital Markets,1,LC Oshkosh, IVI
Financial Analyst March 2019-- Prevent
• Build financial models for all property types(multi-family,office,industrial,and retail)to project operating costs,net
operating income,capital expenditures,unlevered cash flows,debt service,and levered cash flows
• Underwrite investment opportunities
• Prepare and present proposals for property acquisition,Construction,and refinancing
• Underwrote acquisitions and secured financing for over 100 apartment units in 2019
Intern: Research and Financial Analyst Alla.1,2018- August 2018
• Created and delivered loan proposals,totaling$8.5M,to local and national banks
• Prepared successful tax appeal for a Class A office building,resulting in an$800K reduction in assessed value
• Produced and updated over 100 lease abstracts for properties in Alexander&Bishop's portfolio
• Developed operating budgets for multifamily and retail projects
Gannett I USA TODAY Network Appleton, 1,117
Intern: Data Analyst June2017--Mai,2018
• Generated and managed over$15,000 of targeted Real Estate advertisements on Facebook
• Forecasted ad space inventory and potential revenue for Wisconsin markets
• Analyzed data on digital marketing campaigns and built performance reports for customers
• Conducted digital audits for prospective customers and recommended opportunities to entrance their digital presence
Alexander& Bishop
LEGAL STRUCTURE
Single purpose LL (to be created)
Alexander& Bishop
PROJECT
DESCRIPTION
Overview
• 16 townhome units
• 2 stall attached garage parking
• Entrances from the street
• 9' ceilings
• In suite washer and dryer
• Gas fireplaces
• Granite Countertops
• Stainless Steel Appliances
• Attractive landscaping and streetscaping
The proposed project will consist of 4, 4 unit townhomes (16 total
units) with each unit consisting of 3 bedrooms and 2 bathrooms. The
interior will be finished to a high level that will include stainless steel
appliances and granite countertops in the kitchens, ceramic tile tub
surrounds and granite vanity tops in the bathrooms, in suite laundry,
and gas fireplaces. Each unit will have a 2 stall attached garage
located on the inner-facing sides of each building, with main entrances
to each unit facing outward along 7th Ave and 8th Ave.
The City of Oshkosh will be responsible for all environmental cleanup
for the site prior to the start of construction.
Construction is expected to begin in April of 2020 and to be completed
within 10 months.
Alexander& Bishop
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CONCEPT PLAN
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FINANCING PLAN
Capital tack:
First Mortgage
• $2,000,000
TIF (15 year Pay-Go)
• $400,000
PACE (Property Assessed Clean Energy)
• $250,000
Offer Price for the land: 1
TargetMarket:
• Young Professionals
• Co-living (unrelated roommates splitting rent)
• Senior Living
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16 UNIT NEW CONSTRUCTION
SOURCES&USES
SOURCES:
New Loan Proceeds 2,000,000
TIF 400,000
PACE 250,000
Developer Equity 150,000
TOTAL SOURCES 2,800,000
USES:
Construction Contract(Millennium)(160k/unit) 2,560,000
Civil Engineering
Structural Engineering
Environmental
Land Acquisition 1
Real Estate Taxes During Construction 5,000
TIF Application fee 10,000
Loan Origination fee 4,000
Title 3,500
Appraisal 3,000
Preliminary Marketing 2,500
Legal: Bank 3,000
Legal: Borrower 3,000
Permits/Fees 1,500
Pre-Leasing Commissions 3,000
Developer Expense 150,000
Net Working Capital Defecit During Construction/Lease-Up Period 42,500
TOTAL USES 2,791,001
SURPLUS/(SHORTAGE) 8,999
REDEVELOPMENT AUTHORITY OF THE CITY OF OSHKOSH,WISCONSIN
NOVEMBER 20, 2019 19-31 RESOLUTION
(CARRIED LOST LAID OVER WITHDRAWN )
PURPOSE: APPROVE OFFER TO PURCHASE VACANT PROPERTY ON SOUTH
MAIN STREET BETWEEN 7TH AVENUE AND STH AVENUE; OSHKOSH
BIER & BREWING, LLC ($60,000.00)
BE IT RESOLVED by the Redevelopment Authority of the City of Oshkosh that
the offer to purchase in the amount of$60,000.00 submitted by Oshkosh Bier & Brewing,
LLC or its Assigns, for the vacant property on the west side of South Main Street between
7t1i Avenue and Stl' Avenue is hereby accepted and the proper officials are hereby
authorized and directed to execute any and all documents necessary for purposes of
same.
Oshkosh Bier & Brewing Company, LLC
Brewery Proposal: Sawdust District
210 N. Main Street, Suite 100, Oshkosh, W1 54901
Contact: Jeffrey Fulbright (920)376-0871
1. Legal
2. Developer Credentials
3. Team Members
4. Project Description
5. Ptoject Timeline
6. Financials
7. Use of Funds
S. Construction Estimates
9. Brewery Images
10. Miscellaneous
FILING FEE $170.00
OPTIONALEXPEDITED { z5<04
SERVICE
DO NOT S'T'APLE
dR
State of Wisconsin
scc. >ss.oz. Department of Financial Institutions
r'
Wis.Stats.
Division of Corporate and Consumer Services
ARTICLES OF ORGANIZATION - LIMITED LIABILITY COMPANY
Executed by the undersigned for the purpose of forming a Wisconsin limited liability company under Ch.
183 of the Wisconsin Statutes:
Article 1. Name of the limited liability company:
Oshkosh Bier& Brewing, LLC
Article 2. The limited liability company is organized tender Ch. 183 of the Wisconsin Statutes.
Article 3. Name of the initial registered agent:
Charles J. Hertel, Esq.
Article 4. Street address of the initial registered office:
Dempsey Law Firm, LLP
(The complete address, including street and number, if 210 N, Maim Street,Suite 104
assigned, and ZIP code. P D Box address may be
included as part of the address, but is insufficient alone,) Oshkosh,WI 54901
Article 5. Management of the limited liability company shall be vested in:
(Select and check(X)the one appropriate choice below)
0 a manager or managers
OR
its members
Article 6. Name and complete address of each organizer:
Charles J.Hertel,Esq.
210 N.Main Street,Suite 100
Oshkosh,WI
Organizer`s signature Organizer's signature
I
This document was drafted by Charles J. Hertel, Esq,
(Name the individual who drafted the document)
OPTIONAL—Second choice company name if first choice is not available:
SAVE TIME AND MONEY! FILE ONLINE AT
www.wdfi.orV,.
DFI/CORP/502 (04/15) ]
ARTICLES OF ORGANIZATION-Limited Liability Company
Charles J. Hertel, Esq.
Dempsey Law Firm, LLP
PO Box 886, Oshkosh, Wl 54903-0886
L
➢ Your name, return address and phone number during the day (520 ) 235 _ 73003
INSTRUCTIONS (Ref. sec. 183,0202 Wis. Stats, for document content)
Please use BLACK ink. Submit one original to State of Wl-Dept. of Financial Institutions, Box 93348,
Milwaukee WI, 53293-0348, together with the appropriate FILING FEE of$170. Filing fee is non-
refundable. (If sent by Express or Priority US. mail, address to 201 W. Washington Ave., Suite 300,
Madison WI, 53703). Sign the document manually or otherwise as allowed under sec, I83.0107(2), Wis.
Stats. NOTICE: This form may be used to accomplish a filing required or permitted by statute to be
made with the department. Information requested may be used for secondary purposes, If you have any
questions, please contact the Division of Corporate & Consumer Services at 608-261-7577. Hearing-
impaired may call 711 for TTY. This document can be made available in alternate formats upon request
to qualifying individuals with disabilities.
Article 1, The name must contain the words"limited liability company"or"limited liability co."or end
with the abbreviation"L.L.C."or"LLC", If you wish to provide a second choice name that you would
accept if your first choice is not available, enter it in the"Optional" area on page 1.
Article 2. This statement is required by sec. 183.0202(1).
Articles 3 &4. The company must have a registered agent located at a registered office in Wisconsin.
The address of the registered office is to describe the physical location where the registered agent
maintains their business office. Provide the street number and name, city and Z1P code in Wisconsin.
P O Box addresses may be included as part of the address, but are insufficient alone. The company may
not name itself as its own registered agent.
Article 5. Indicate whether management of the company will be vested in a manager or managers, or in
its members. Select only one choice. (Ref.sec. 183.040 1,Wis. Stats.)
Article 6. Print or typewrite the name and complete address of each organizer. At least one organizer is
required to sign the document, although all organizers may sign.
If the document is executed in Wisconsin, sec. 182.01(3), Wis. Stats.,provides that it shall not be filed
unless the name of the drafter(either an individual or a governmental agency) is printed in a legible
manner. If the document is not executed in Wisconsin, enter that remark.
This document may declare a delayed effective date. To do so, enter a remark.: "This document has a
delayed effective date of (enter the future date) " The delayed effective date may not be before, or
more than 90 days after, the document is received by the Department of Financial Institutions for fling.
NOTE: The articles of organization may contain only that information required under items 1 through 6.
The company may create a separate operating agreement that includes additional information.
DFI/CORP/502(04/15) 2
For Office
oto
State of Wisconsin
Department of Financial Institutions
Endorsement
ARTICLES OF ORGANIZATION - LIMITED LIABILITY COMPANY - 120 day Ch. 180, 183, 185
OSHKOSH BIER& BREWING, LLC
Received Date: 8/25/2017 Filed Date: 812812017
Filing Fee: $170,00
Entity ID#: 0033324
Total Fee: $170.00
rI1�f G FEE E See be ow
aPY1oNALEXPENTED + $25.00
V 5 EBV ICE
DO NOT STAPLE
Chairs.
State of Wisconsin
181, 183&185, Dept Lmont of Financial Institutions
Wis.Slats.
Division of Coxporate and Consumer Services
NA-NM' BSER-VATZON APPLICATION
1. I hereby apply to reserve the name
Oshkosh Bier& Brewing Company, LLC
(Refer to instructions for required words)
under the authority and for the term indicated below:
TFIRM FEE �_
❑✓ Domestic and foreign business coipmations, limited liability 120 days $ 15,00
companies, and cooperatives (Chaps. 180, 183, &185, lfris. Stats.)
Domestic and foreign nonstock, including nanpmfit, corporations 120 days $ 10.00
(Ch. 181, Wis. Stats)
❑ Domestic and foreign limited partnerships (Ch, 179, Wis. Stats.) 50 days 10.00
The fee is for processing the application and reserving the name, if it is available. If the narne is not
available, yoawill receive notice of the reason wtiy it is not available,which constitutes completion of the
application process. Fee is non-refundable. See"Caution"under Instsuctions.on page 2.
This name reservation may be,used only for an organization foraned under:the same statutory authority under
which thename is reserved.
MF `1
Print applicant's dull name and address: -Charles.I. Hertel
21.0 N.Main Street, Suite X00
Oshkosh, W( 5490:1 ONS
06/09/2017
bate; _--
Wgmahrre)
Title: 7Applicaut or
(printed name)
See reversc for instructions,suggestions, filing fees and procedures.
IDFIIC.)RP/1 (04/15) 1
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For office
State of Wisconsin
Department of Financial Institutions
Fndorsement
NAME RESERVATION APPLICATION
OSHKOSH BIER & BREWING COMPANY, LLC
Received hate: 6/1212017
Filing Fee; $15 00 Upiration pate; 10/11/2017
Entity ID##: 0033324
Totai Fee; $15,00
DEVELOPER CREDENTIALS
The founder and managing member of Oshkosh Bier&Brewing Company,LLC,Jeffrey
Fulbright,is a life-long business owner, restauranteur and entrepreneur who will serve in the
principal administrative position for the brewery. In this capacity, he will oversee the day-to-day
management of the brewery including the brew house, fermentation cellar,packaging,plant floor
staff, etc.
Fulbright is uniquely qualified to execute this form of administrative structure given his years
of business management and ownership. Fulbright was involved in a restaurant business in the
Tampa Bay, Florida area. Over time he progressed from chef to manager to supervisor over a large
sea food restaurant group with in excess of 150 managers, cooks and wait/bar staff Each site
ranged from$2.7 ----$3.5 million annually. In addition, he received his certification from the
prestigious United States Brewers Academy of the Siebel Institute of Technology in Chicago, Illinois
in 1990. In 1991, he founded Mid Coast Brewing, one of the first craft beer companies in
Wisconsin and he received national recognition for developing the first"Red Lager beer" produced
in the United States. His marketing model for the first craft beer package in cans has become the
industry standard 25 years later. Oshkosh Bier&Brewing Company,LLC will be the initial"ground
up"production/hospitality facility done in conjunction with Ben Ganther of Ganther Construction
with a timeline of approximately six months from ground break to completion.
TEAM MEMBERS
General counsel regarding brewery business and financial and legal decisions will be guided
by partner and company attorney, Charles J. Hertel. Hertel, a graduate of Northwestern University
School of Law,is a long-time Oshkosh business attorney and is considered one of the brightest legal
counsels in Northeast Wisconsin. Hertel is a partner in the Dempsey Law Firm,LLP and has been
in practice for more than 35 years. He has appeared in courts throughout the country,including the
United States Supreme Court and the Wisconsin Supreme Court. His practice is focused upon
representing commercial concerns in a broad range of matters. Importantly, he has assisted
innumerable clients in organizing and structuring business startups. Further, Hertel has provided
wise counsel to businesses large and small and has successfully represented their interests on matters
that are diverse in nature. Over the years, Hertel has developed relationships within the business
community as well as the City of Oshkosh,which will serve to assist Oshkosh Bier &Brewing
Company,LLC in forging key relationships necessary to get the brewing business off the ground.
Company accountant and financial advisor functions will be performed by Certified Public
Accountant Charles NO. He currently represent Oshkosh Bier&Brewing Company,LLC partner
and general counsel, Charles Hertel's law firm, "Dempsey Law Offices". Nigl is the founding
partner in Nigl Accounting, LLP, a local certified public accounting and advisory firm that provides
audit, accounting, tax compliance and planning, and management advisory services to a wide range
of clients including individuals, partnerships, corporations, trusts and estates, and tax-exempt
organizations. Nigl has 45 years' of experience providing audit, accounting, tax and management
advisory services to individuals, family-owned businesses and tax-exempt organizations and is
considered one of the most respected accountants in his field. In addition, Nigl is a past board of
director member on several local tax--exempt organizations. Nigl graduated from the University of
Wisconsin Oshkosh in 1974 with a Bachelor of Business Administration degree in accounting and
became a Wisconsin certified CPA in 1977. Nigl is an investment advisor representative of HK
Financial Services and a member of both The American Institute of Certified Public Accountants
and The Wisconsin Institute of Certified Public Accountants and maintains a minimum of 40 credit
hours of continuing professional education annually.
As a second generation owner of"Lee Beverage Distributing",Jeff Lindemann will serve as
an advisory board member. His company is one of the largest beer distributors in Wisconsin.
Lindemann has served as past president of the Wisconsin Beer Distributors Association and was,
and still is, an influential presence in all aspects of the practical and political sides of this industry.
His many years of experience has given him invaluable insight into trending, marketing,beer styles
and packaging within the industry which he will bring to Oshkosh Bier&Brewing Company, LLC
in his advisory capacity.
Benjamin Ganther III will be an advisory board members. He is a third generation general
contractor and the president of Ganther Construction. Ganther will act as the brewery's general
contractor in building the new 15,000 square foot facility. Ganther has extensive construction and
business experience and has been involved in developing large and varied projects locally, nationally
and overseas.
PROJECT DESCRIPTION
Since the inception of the Oshkosh Bier&Brewing Company,LLC concept,it has been our
plan to build not only a modern, efficient craft brewery,but one that is as visually attractive as to be
considered a "showcase" brewery for the City of Oshkosh. We believe that the Oshkosh Bier &
Brewing Company,LLC design meets that goal. Set on a 1.5 acre site at the front of the corner of
7"and Main, this is a newly designated business district and extension of the Oshkosh downtown
business district with access near the lake front.
Designed as a Frank Lloyd Wright influenced structure, this 1.5 acre site is large enough to
accommodate the planned 15,000 square foot brewery and a beautifully landscaped one-quarter to
one-third acre "Bier Garten" with customer parking completing the "showcase" site. This attractive
and convenient location (on the bus route) in "Event City" will have easy access for locals and
guests of the city, including hundreds of thousands attending E.A.A.,Waterfest, County USA and
Rock USA.
Taking advantage of the strong annual year over growth of the craft beer industry nationally,
it is the company's long--term goal to produce 15,000-25,000 barrels of ales and lager beers annually,
with revenues in excess of$5.0 million within five to six years. Emphasis will be placed on local
sales of both draught and packaged beer.
The large Oshkosh breweries hit their peak production in the 1950s and 1960s. With a
population of a little over 41,000 residents, Oshkosh breweries produced more than 100,000 barrels
on an annual basis. However, by the early 1970s, the last two remaining breweries (Oshkosh
Brewing and Peoples Brewing) ceased production. It was the first time in more than 100 years that
Oshkosh was without a production brewery. It is the intent of Oshkosh Bier &Brewing Company,
LLC to return that degree of brewery back to Oshkosh.
The beer industry and marketplace have changed dramatically in the last 20 years, allowing
for creative, new windows of opportunity within an industry that had been dominated by national
breweries for over 50 years. Today's consumers have become more aware of the quality and
differences between craft beers and beer produced by much larger, national breweries which offer
less variety and richness of style and flavor.
Before brewpubs and micro-breweries (craft brewers) were legalized in 1978, the majority of
consumers were exposed primarily to light lagers and pilsners. However, these generalized, limited
offerings created peripheral product opportunities for craft brewers to evolve and flourish. Today,
current Brewers Association statistics indicate that there are over 7,400 craft breweries nationally,
accounting for 24% of the $114 billion beer industry. We believe that this is an impressive success
ratio demonstrating not only the popularity of craft beer but the very potential for the development
of more craft breweries. Statistics for Wisconsin show an economic impact of$2.25 billion,which is
11`' nationally and 1.25 million barrels produced. Wisconsin currently has over 200 craft breweries
(both production and brewpub facilities), ranking 14"nationally. This figures out to be
approximately 35 breweries per capital of 100,000 adults.
Given the impressive industry facts and double digit growth on a national and regional level,
Oshkosh Bier &Brewing Company,LLC is committed to returning a great brewing tradition back.
to Oshkosh by opening the first large production brewery in this city since 1972. We have selected a
site for our facility within the Sawdust District on this 7" Street parcel. The Oshkosh Bier&
Brewing Company,LLC facility will be an attractive,modern 15,000 square foot, state-of-the-art
craft brewery producing world class beer for the local market. In addition, the brewery will feature
an attractive 2,000 square foot, multi-tap public "sampling room" featuring core Oshkosh Bier &
Brewing Company, LLC styles. Plans also include utilizing a portion of the acreage for an
extensively landscaped Bier Garten for the comfort and enjoyment of all who visit the brewery.
PROJECT 'TIMELINE
TASK START END
ESTABLISH BUSINESS PLAN 10/10/2017 2/10/2018
BREWERY CONCEPT &DESIGN 11/1/2017 12/20/2019
RESEARCH & SELECT EQUIPMENT 11/30/2017 1/30/2020
DETERMINE COMPANY PROCEDURES 12/10/2017 1/20/2020
DETERMINE STAFF STRUCTURE 12/10/2017 1/20/2020
DETERMINE PACKAGING TYPE ART & COST 1/30/2018 2/28/2020
SECURE BREWERY SITE 1/10/2018 1131/2.020
RAISE START UP CAPITAL 8/1/2018 2/28/2020
ORDER EQUIPMENT 2/10/2019 3/20/2020
BLUE PRINTS 1/20/2019 1/30/2020
LICENSE/PERMITS/FILINGS 12/01/2019 1/20/2020
BREAK GROUND 1/25/2020 4/25/2020
DEVELOP BEER TYPES & FORMULAS 1/30/2019 3/30/2020
HIRE BREW HOUSE STAFF 3/25/2019 4/10/2020
ORDER INVENTORIES 4/l/2020 4/10/2020
TEST BREWINGS 5/1/2020 6/10/2020
HIRE & TRAIN HOURLY STAFF 6/10/2020 6/20/2020
SOFT OPENING 6/25/2020 6/30/2020
GRAND OPENING 7/1/2020
FINANCIALS
Intended Sources:
® $900,000.00 Bank Financing (Choice Bank)
® $1,500,000.00 Equity Contributions (Private Investors)
• $100,000.00 Revolving Loan (GOAEDC)
® $50,000.00 Oshkosh Area Economic Development Corporation
r $75,000.00 Personal Equity Ueffrey Fulbright)
Oshkosh Bier &Brewing Company, LLC requests assistance from the RDA in the form of
approval of the 7"' and Main Street site,TIF and assistance in any form with the Wisconsin
Department of Natural Resources regarding environmental issues. In addition to assisting with
costs of site studies and necessary remediation, Oshkosh Bier&Brewing Company,LLC is willing
to offer $60,000.00 for the site spread equally over a five year maximum. Sub terrain site study costs
shall only be considered upon and after approval of the overall Oshkosh Bier &Brewing Company,
LLC proposal for the 7`' and Main Street site (i.e. phase 1 etc.), resulting in an issued Certification of
Completion.
USE OF FUNDS
BREWHOUSEIFERMENTATION CELLAR $ 669,000
INSTALLATION 180,000
CAN AND FILL LINE 265,000
CARTONER SYSTEM 120,000
"RING" CARRIER SYSTEM 16,500
LABELER 18,900
CARTONS/CARRIER (40K) 11,200
LABELS: 250K AT 3-5 SIU 13,657
POLY "RING" CARRIERS 3,500
KEG WASHER/FILLER 30,000
CANS AND LIDS ("BALL") 194,5001351,624 31,542
200 KEGS 17,500
COOLER: 1000 SQ FT 18,000
TAPROOM D�CORIEQUIPMENT 80,000
COMPUTER/PHONE SYSTEM 3,500
GRAPHICS 15,000
MALT (10K LBS) 7,500
HOPS (1K LBS) 2,000
YEAST 300
FEE'SILICENSES 2,049
LANDSCAPING (BIER GARTEN) 25,000
TOTAL 1,530,148
It should be noted that the above-referenced amounts do not include shipping of equipment nor
reserve and working capital.
CSI DIVISION SUMMARY
Site Construction (includes $50k bier
garden allowance) $300,900
Concrete $143,900
Masonry $951,400
Metals $238,400
Wood and Plastic $32,300
Thermal and Moisture Protection $99,900
Doors and Windows $988,800
Finishes $255,700
Specialties $85,600
Equipment $0
Furnishing $0
Special Construction $0
Conveying Systems $0
Mechanical $377,400
Electrical $998,600
ADDITIONAL ALLOWANCES
$0
$0
rmmTotal CSI Division Cost $1,992,900
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OSHKOSH BIER & BREWING
• 1 ZL5 ACRE SITE
• 433560 SQ. FT.IACRE
• 765230 SQ. TOTAL SQ. FT.
• 155000 SQ. FT.IBREWERY BUILDING
• 61 ,230 SQ. FT.
• 21 ,780 SQ. FT. (1/2 ACRE BIER GARDEN)
o 39,450 SQ. FT. BALANCE (PARKING,
TRASH,PATIO.DELIVERY
ACCESS,EASEMENTS)
PILSNER PARK
Beer Garden @ Oshkosh Bier & Brewing
12-5 acre site (43,560 sq. ft. = 1 acre)
= 76,230 sq. ft. (total sq. ft.)
(minus) 15,000sq. ft. (brewery)
61 ,230 sq. ft.
(minus) 21 ,780 sq. ft. (1 /2 acre Pilsner Park)
= 39,450 (parking, trash, delivery area, patio, easement)
REDEVELOPMENT AUTHORITY OF THE CITY OF OSHKOSH, WISCONSIN
NOVEMBER 20, 2019 19-32 RESOLUTION
(CARRIED LOST LAID OVER WITHDRAWN )
PURPOSE: APPROVE OFFER TO PURCHASE VACANT PROPERTY ON SOUTH
MAIN STREET BETWEEN 7TH AVENUE AND 8TH AVENUE; SAWDUST
DISTRICT LOFTS-OSHKOSH, LLC ($1.00)
BE IT RESOLVED by the Redevelopment Authority of the City of Oshkosh that
the offer to purchase in the amount of $1.00 submitted by Sawdust District Lofts-
Oshkosh,LLC or its Assigns,for the vacant property on the west side of South Main Street
between 711,Avenue and 811,Avenue is hereby accepted and the proper officials are hereby
authorized and directed to execute any and all documents necessary for purposes of
same.
NFORTHPOINTE
lora..:..
DEVELOPMENT CORPORATION
DEVELOPMENT PROPOSAL :
SAWDUST LOFTS
Redevelopment Authority of the City of Oshkosh
215 Church Avenue
Oshkosh, WI
The following proposal is in response to the Redevelopment Authority of the City of Oshkosh RFP for
the 700 Block, S Main Street, between 7t" and 8t"Avenue, west of S. Main Street
November 11, 2019
Northpointe Development Corporation
230 Ohio St. Suite 200
Oshkosh,WI 54902
(920) 379-1645 Fax (920) 230-6484
andy@alliancedevelopment.biz
SA WDUST LOFTS DEVELOPMENT PROPOSAL
700 Block of S. Main St.
Oshkosh, Wl
EXECUTIVE SUMMARY
Northpointe is pleased to provide the following proposal for the acquisition of vacant land located in the
700 block of South Main Street in Oshkosh. The property will be acquired and constructed using Section
42 Housing Tax Credits for workforce apartments.
The proposed building will be 60 workforce housing apartment units containing 18 one bedroom units,
24 two bedroom units, and 18 three bedroom units.
WHEDA tax credits will be awarded in April 2020. Construction of the property will approximately begin
in October 2020, with Certificate of Occupancy granted October 2021.
Unit amenities include: individual gas force air heat, central air conditioning, elevator, stainless steel
appliances, wood cabinets, one or two full bathrooms, and in-unit washers and dryers.
Property amenities include community room, fitness center, conference room, and on-site office.
Ownership of the building will be by a single asset limited liability company (Sawdust Lofts-Oshkosh, LLC)
controlled by Northpointe Development Corporation.
Questions regarding this proposal should be directed to:
Andy Dumke
Northpointe Development Corporation
230 Ohio St. Suite 200
Oshkosh, WI 54902
(920) 230-3628
andy@alliancedevelopment.biz
NORTHPOINTE
DEVELOPMENT CORPORATION
SA WDUST LOFTS DEVELOPMENT PROPOSAL
700 Block of S. Main St.
Oshkosh, Wl
TABLE OF CONTENTS
SECTION 1 Developer Credentials
SECTION 2 Team Members
SECTION 3 Developer Legal Structure
SECTION 4 Project Description
SECTION S Concept Plan
SECTION 6 Financing Plan
NORTHROINTE
DEVELOPMENT CORPORATION
SA WDUST LOFTS DEVELOPMENT PROPOSAL
700 Block of S. Main St.
Oshkosh, Wl
DEVELOPER CREDENTIALS
NORTHPOINTE DEVELOPMENT CORPORATION
Northpointe Development Corporation is a real estate development company founded by Cal Schultz
and Andy Dumke for the purpose of bringing revitalization and development to various neighborhoods
in Wisconsin. Northpointe envisions vibrant communities that strengthen neighborhoods, enhance
livelihoods, respond to the environment, and connect people and places. The company's mission is to
provide sustainable housing for communities in an open, honest, and transparent manner.
Northpointe has developed new construction family and senior apartment housing, historic
rehabilitation, and commercial properties throughout Wisconsin in excess of$130 million. The company
has received numerous awards including the 2013 Top Projects Award in Milwaukee, 2015 National
Historic Preservation Award, 2014 runner-up for the prestigious J.Timothy Anderson National Award for
Excellence, 2017 Wisconsin Trust for Historic Preservation Award, 2019 Remarkable Milwaukee Award
and the 2019 Carolyn Kellogg Historic Preservation Award.
APARTMENT DEVELOPMENTS
Proiect Name Location Units
Rivers Senior Living Oshkosh WI 60
Bayside Senior Living Oconto WI 24
Fair Acre Townhomes Oshkosh WI 55
Kenwood Senior Living Ripon WI 24
The Fountains of West Allis West Allis WI 35
Blackstone Harbor Apts. Sister Bay WI 24
Oconomowoc School Apts Oconomowoc WI 55
Nicolet Townhomes De Pere WI 60
Anthem Luxury Living Oshkosh WI 80
Mercantile Lofts Milwaukee WI 36
Shoe Factory Lofts Milwaukee WI 55
The Rivers- Phase II Oshkosh WI 40
Woolen Mills Lofts Appleton WI 60
Bayshore Townhomes Sparta WI 32
Century Building Milwaukee WI 44
Cranberry Woods Townhomes Wisconsin Rapids WI 40
Whispering Echoes Townhomes Winneconne WI 28
Regency Place Senior Living Little Chute WI 40
Arbor Terrace Senior Living Wisconsin Rapids WI 40
NORTHPOINTE
DEVELOPMENT CORPORATION
SA WDUST LOFTS DEVELOPMENT PROPOSAL
700 Block of S. Main St.
Oshkosh, Wl
TEAM MEMBERS
Developers: Keystone Development, LLC Alliance Housing Development, LLC
420 South Koeller Street, Suite 230 230 Ohio Street
Oshkosh, WI 54902 Oshkosh,WI 54902
(920) 303-9404 (920) 230-3628
Contact: Cal Schultz Contact: Andy Dumke
cschultz@keystone-dev.com andv@alliancedevelopment.biz
Callan L.Schultz
Graduated from the University of Wisconsin-Oshkosh with a Bachelor of Business Administration with
majors in finance and management information systems and a Masters of Business Administration. Cal
is a licensed Wisconsin Real Estate Broker. He was a 1999 class member of the Massachusetts Institute
of Technology"Birthing of Giants" program.
Cal formed Keystone Development, LLC in 1999. The company has developed over 2,000 apartment
units throughout Wisconsin, Michigan, Ohio and Iowa. In 2011 he and Andy Dumke formed Northpointe
Development Corporation for the purpose of developing and owning affordable housing in Wisconsin.
Andrew J. Dumke
Andrew Dumke began developing and managing real estate in 1993. He has grown his portfolio to
include multi-family apartments, commercial office buildings, warehouse buildings, and retail centers.
His company Alliance Development has developed over$200,000,000 in real estate. A sample of
nationally accredited tenants he works with are Starbucks, Panera, Fed EX/Kinkos,TJ Maxx,JoAnn
Fabrics, US Cellular,Verizon, Buffalo Wild Wings, Chipotle, Qdoba, Baker Tilly, Old National Bank, and
Olive Garden.Andrew's current portfolio contains over 1,000,000 square feet of commercial office,
warehouse, and retail space.
In 2011,Andrew started Northpointe Development Corporation in conjunction with Cal Schultz.The
purpose of this entity is to develop, own and provide market-rate, affordable, and senior housing in
Wisconsin.
NORTHPOINTE
DEVELOPMENT CORPORATION
SA WDUST LOFTS DEVELOPMENT PROPOSAL
700 Block of S. Main St.
Oshkosh, Wl
Architect: Wesenberg Architects
240 Algoma Blvd. Suite A
Oshkosh, WI 54901
Contact: Chet Wesenberg
chet.wesenberg@cwarchitect.net
Contractor: Wesenberg Architects
240 Algoma Blvd. Suite A
Oshkosh, WI 54901
Contact: Chet Wesenberg
chet.wesenberg@cwarchitect.net
Property
Management: ACC Management Group, Inc
2375 State Road 44
Oshkosh, WI 54904
(920) 966-9905
Contact: Rose Andler
rose@accmanagementgroup.com
NORTHPOINTE
DEVELOPMENT CORPORATION
SA WDUST LOFTS DEVELOPMENT PROPOSAL
700 Block of S. Main St.
Oshkosh, Wl
DEVELOPER LEGAL STRUCTURE
Owner: Single Asset Entity(Sawdust Lofts-Oshkosh, LLC) Formed and Controlled By:
Northpointe Development Corporation
420 South Koeller Street, Suite 230
Oshkosh, WI 54904
(920) 303-9404
Contact: Cal Schultz
cal@northpointedev.com
Sec. 153 0202
Wis. Stals.
i
State of Wiscollsill
Del)aurtrurerrt of Financial hrstiturtions
A.ItTIC`LES OF CtRGaA,NIZATION - LIMITED LIABILITY C'01IPANY
Executed by the urrrelersrrrred for the luut,r'l)aasse of forrraunr;g a Wisccasrsirr Limited Liability C ouilmny urrrcler Chapter 183 cif the
iscow-,'in Statutes::
Article 1. Naurne of the limited liability corrrpauny:
Sawdtist Lofts-Oslrkoslr, LLC"
Article 2.. The limited liability company is organized under C;h. 183 of the Wisconsin Statutes.
Article 3. Naaarne of the initial registered argent:
NORTHPOINTE DEVELOPMENT C ORPC-FLNTION
NORTHPOINTE
DEVELOPMENT CORPORATION
SA WDUST LOFTS DEVELOPMENT PROPOSAL
700 Block of S. Main St.
Oshkosh, Wl
PROJECT DESCRIPTION
Property Address: 700 Block of S Main St, Oshkosh,WI
Current Use: Vacant Land
Proposed Use: LIHTC Family Apartment Development
Proposed Units: 60 Apartment Units
(18-One Bedrooms, 24-Two Bedrooms, 18-Three Bedrooms)
Development Type: Multi-family Residential
Parking: 11 Surface Stalls/70 Underground Parking Stalls
Unit Amenities: Individual Gas Force Air Heat Community Room
Central Air Conditioning Fitness Center
Elevator On-Site Office
Stainless Steel Appliances Conference Room
Wood Cabinets
One or two full bathrooms
In-unit washers and dryers
Timeline: WHEDA tax credits will be awarded in April 2020. Construction of the property
will approximately begin in October 2020,with Certificate of Occupancy granted
October 2021.
Rental Type Index:
# Proforma utility Gross CMI
Seta-
Side Unit Type Units Rate Allowance Rent 20191-imit
30%CMI 1 Bedroom 4 $385 $51 $436 $440
2 Bedroom 4 $469 $59 $528 $528
3 Bedroom 4 $545 $64 $609 $610
50%CMI 1 Bedroom 8 $680 $51 $731 $733
2 Bedroom 8 $825 $59 $884 $880
3 Bedroom 8 $950 $64 $1,014 $1,016
60%CMI 1 Bedroom 3 $725 $51 $776 $880
2 Bedroom 9 $875 $59 $934 $1,056
3 Bedroom 3 $950 $64 $1,014 $1,220
Market 1 Bedroom 3 $795
2 Bedroom 3 $895
3 Bedroom 3 $975
TOTAL 60
NORTHPOINTE
DEVELOPMENT CORPORATION
SA WDUST LOFTS DEVELOPMENT PROPOSAL
700 Block of S. Main St.
Oshkosh, Wl
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DEVELOPMENT CORPORATION
SA WDUST LOFTS DEVELOPMENT PROPOSAL
700 Block of S. Main St.
Oshkosh, Wl
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SA WDUST LOFTS DEVELOPMENT PROPOSAL
700 Block of S. Main St.
Oshkosh, Wl
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700 Block of S. Main St.
Oshkosh, Wl
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DEVELOPMENT CORPORATION
SA WDUST LOFTS DEVELOPMENT PROPOSAL
700 Block of S. Main St.
Oshkosh, Wl
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NORTHPOINTE
DEVELOPMENT CORPORATION
SA WDUST LOFTS DEVELOPMENT PROPOSAL
700 Block of S. Main St.
Oshkosh, Wl
FINANCING PLAN
First Mortgage $3,634,000
LIHTC Equity $6,741,826
EPA Grant/Home Funds $488,000
TOTAL SOURCES OF
FUNDS $10,863,826
Property
Acquisition $1
Construction/Rehab Costs $7,833,294
Construction Contingency $391,665
Architectural & Engineering $290,400
Interim Construction Costs $544,400
Financing Fees & Expenses $141,830
Soft Costs $635,500
Syndication Costs $12,000
Developer Fee $542,736
Operating
Reserves $472,000
TOTAL USES OF FUNDS $10,863,826
Loan commitment letter available upon request.
NORTHPOINTE
DEVELOPMENT CORPORATION
REDEVELOPMENT AUTHORITY OF THE CITY OF OSHKOSH, WISCONSIN
NOVEMBER 20, 2019 19-33 RESOLUTION
(CARRIED LOST LAID OVER WITHDRAWN )
PURPOSE: APPROVE OFFER TO PURCHASE VACANT PROPERTY ON SOUTH
MAIN STREET BETWEEN 7TH AVENUE AND 8TH AVENUE;
BRIDGEVIEW HOLDINGS, LLC ($55,802)
BE IT RESOLVED by the Redevelopment Authority of the City of Oshkosh that
the offer to purchase in the amount of $55,802 submitted by Bridgeview Holdings, LLC
or its Assigns, for the vacant property on the west side of South Main Street between 711
Avenue and 811,Avenue is hereby accepted and the proper officials are hereby authorized
and directed to execute any and all documents necessary for purposes of same.
851 S Main Street Annex
Bridgeview Holdings LLC
William Steiner
will@wsteiner.com
920-515-0123
Bridgeview Holdings LLC.
4 Member owners:
• Khurram Ahmad
• Javad Ahmad
• Saad Ahmad
• William Steiner
Together the Ahmad brothers own and operate Oracular Inc, now doing business as Smart IS.
Their technology development and consulting firm, based in Oshkosh, has multiple offices and
hundreds of employees throughout the world.
Will Steiner's primary focus is on commercial real estate investment. In a separate partnership,
Prime Space LLC, he develops and holds retail centers and office buildings.
3 Properties:
1. 280-300 Ohio Street with tenants:
Midwest Dental,
o 3 Waves Clinic (Healics),
o Legal Action of Wisconsin as of 1/1/2020
2. 1302 S. Main Street, Smart IS
This is the new home of Smart IS, under construction now for occupancy by the end of the
year. Until last month, this property was used by Davis Painting. The purchase and
investment in this building demonstrates the personal commitment to the vision of South
Main Street by the members of Bridgeview Holdings.
3. 851 S. Main Street
Former Miles Kimball building
o 4 floors, 24,000 square foot
V floor restaurants and patio
Project Description:
Previously we submitted an offer and subsequently rescinded the offer. We intend to use the property as
primary parking for restaurant, office and other tenants of 851 S Main Street.
We rescinded the previous offer because we had no immediate tenant prospects. Currently we are
working with a restaurant operator, Mr. Dave Vienola. The scale of his plan for a restaurant and patio
by itself on the first floor would create demand for significant amount of additional parking.
As an example, Chester V's at 3,300 square feet has a parking lot with 50 parking spaces that often
overflows into street parking. 851 S Main St is about twice the size, about 6,000 square feet first floor
with large outdoor patio spaces, but has only 40 parking spaces planned and approved on site for all the
uses in the entire building.
Now with a renewed sense of urgency driven by viable users, we are respectfully resubmitting the same
Offer to Purchase with the property in as-is condition. We very much like the concept drawings and
have made no changes with this resubmission.
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Approved by the Wisconsin Real Estate Examining Board Page 1 of 10,WB-13
03-1-11 (Optional Use Date) 07-1-11 (Mandatory Use Date)
WB-13 VACANT LAND OFFER TO PURCHASE
1 LICENSEE DRAFTING THIS OFFER ON November 8, 2019 [DATE] IS (AGENT OF BUYER)
2 ) STRIKE THOSE NOT APPLICABLE
3 IGENERAL PROVISIONS1 The Buyer, Bridgeview Holdings LLC
4 , offers to purchase the Property
5 known as [Street Address] Vacant parcels 030078,030079,030081,030093,030085,and 030095,as outlined on the attachment
6 in the City of Oshkosh , County of Winnebago , Wisconsin (Insert
7 additional description, if any, at lines 458-464 or 526-534 or attach as an addendum per line 525), on the following terms:
8 ■ PURCHASE PRICE: Fifty five thousand eight hundred two
9 Dollars ($ 55,802.00 ).
10 ■ EARNEST MONEY of$ accompanies this Offer and earnest money of$
11 will be mailed, or commercially or personally delivered within days of acceptance to listing broker or
12
13 ■ THE BALANCE OF PURCHASE PRICE will be paid in cash or equivalent at closing unless otherwise provided below.
14 ■ INCLUDED IN PURCHASE PRICE: Seller is including in the purchase price the Property, all Fixtures on the Property on the
15 date of this Offer not excluded at lines 18-19, and the following additional items:
16
17
18 ■ NOT INCLUDED IN PURCHASE PRICE:
19
20 CAUTION: Identify Fixtures that are on the Property (see lines 290-294) to be excluded by Seller or which are rented
21 and will continue to be owned by the lessor.
22 NOTE: The terms of this Offer, not the listing contract or marketing materials, determine what items are
23 included/excluded. Annual crops are not part of the purchase price unless otherwise agreed.
24 ■ ZONING: Seller represents that the Property is zoned:
25 JACCEPTANCE Acceptance occurs when all Buyers and Sellers have signed one copy of the Offer, or separate but identical
26 copies of the Offer.
27 CAUTION: Deadlines in the Offer are commonly calculated from acceptance. Consider whether short term deadlines
28 running from acceptance provide adequate time for both binding acceptance and performance.
29 BINDING ACCEPTANCE This Offer is binding upon both Parties only if a copy of the accepted Offer is delivered to Buyer on
30 or before . Seller may keep the Property on the
31 market and accept secondary offers after binding acceptance of this Offer.
32 CAUTION: This Offer may be withdrawn prior to delivery of the accepted Offer.
33 JOPTIONAL PROVISIONS TERMS OF THIS OFFER THAT ARE PRECEDED BY AN OPEN BOX(❑)ARE PART OF THIS
34 OFFER ONLY IF THE BOX IS MARKED SUCH AS WITH AN "X." THEY ARE NOT PART OF THIS OFFER IF MARKED "N/A"
35 OR ARE LEFT BLANK.
36 IDELIVERY OF DOCUMENTS AND WRITTEN NOTICESI Unless otherwise stated in this Offer, delivery of documents and
37 written notices to a Party shall be effective only when accomplished by one of the methods specified at lines 38-56.
38 (1) Personal Delivery: giving the document or written notice personally to the Party, or the Party's recipient for delivery if
39 named at line 40 or 41.
40 Seller's recipient for delivery(optional):
41 Buyer's recipient for delivery(optional): William Steiner
42 ❑(2) Fax:fax transmission of the document or written notice to the following telephone number:
43 Seller: ( ) Buyer: ( )
44 ❑(3) Commercial Delivery: depositing the document or written notice fees prepaid or charged to an account with a
45 commercial delivery service, addressed either to the Party, or to the Party's recipient for delivery if named at line 40 or 41, for
46 delivery to the Party's delivery address at line 49 or 50.
47 ❑(4) U.S. Mail: depositing the document or written notice postage prepaid in the U.S. Mail, addressed either to the Party,
48 or to the Party's recipient for delivery if named at line 40 or 41, for delivery to the Party's delivery address at line 49 or 50.
49 Delivery address for Seller:
so Delivery address for Buyer:
51 ®(5) E-Mail: electronically transmitting the document or written notice to the Party's e-mail address, if given below at line
52 55 or 56. If this is a consumer transaction where the property being purchased or the sale proceeds are used primarily for
53 personal, family or household purposes, each consumer providing an e-mail address below has first consented electronically
54 to the use of electronic documents, e-mail delivery and electronic signatures in the transaction, as required by federal law.
55 E-Mail address for Seller(optional):
56 E-Mail address for Buyer(optional): will@wsteiner.com
57 IPERSONAL DELIVERY/ACTUAL RECEIPT Personal delivery to, or Actual Receipt by, any named Buyer or Seller
58 constitutes personal delivery to, or Actual Receipt by, all Buyers or Sellers.
Property Address: Vacant parcels 030078,030079,030081,030093,030085,and 030095 Page 2 of 10,WB-13
59 JOCCUPANCY1 Occupancy of the entire Property shall be given to Buyer at time of closing unless otherwise provided in this
60 Offer at lines 458-464 or 526-534 or in an addendum attached per line 525. At time of Buyer's occupancy, Property shall be
61 free of all debris and personal property except for personal property belonging to current tenants, or that sold to Buyer or left
62 with Buyer's consent. Occupancy shall be given subject to tenant's rights, if any.
63 PROPERTY CONDITION REPRESENTATIONS11
64
65
66 COMPLETE DATE OR STRIKE AS APPLICABLE
67 and Buyer accepts the property in as-is condition with no obligation from Seller to perform any work whatsoever.
68
69 INSERT CONDITIONS NOT ALREADY INCLUDED IN THE DISCLOSURE REPORT
70 CLOSING This transaction is to be closed no later than 14 days following agreement on land use and site plan(line 527)
71 at the place selected by Seller, unless otherwise agreed by the Parties in writing.
72 The following items, if applicable, shall be prorated at closing, based upon date of closing values:
73 real estate taxes, rents, prepaid insurance (if assumed), private and municipal charges, property owners association
74 assessments, fuel and
75 CAUTION: Provide basis for utility charges,fuel or other prorations if date of closing value will not be used.
76 Any income, taxes or expenses shall accrue to Seller, and be prorated at closing, through the day prior to closing.
77 Real estate taxes shall be prorated at closing based on [CHECK BOX FOR APPLICABLE PRORATION FORMULA]:
78 0 The net general real estate taxes for the preceding year, or the current year if available (Net general real estate
79 taxes are defined as general property taxes after state tax credits and lottery credits are deducted) (NOTE: THIS CHOICE
80 APPLIES IF NO BOX IS CHECKED)
81 0 Current assessment times current mill rate (current means as of the date of closing)
82 0 Sale price, multiplied by the municipality area-wide percent of fair market value used by the assessor in the prior
83 year, or current year if known, multiplied by current mill rate (current means as of the date of closing)
84
85 CAUTION: Buyer is informed that the actual real estate taxes for the year of closing and subsequent years may be
86 substantially different than the amount used for proration especially in transactions involving new construction,
87 extensive rehabilitation, remodeling or area-wide re-assessment. Buyer is encouraged to contact the local assessor
88 regarding possible tax changes.
89 0 Buyer and Seller agree to re-prorate the real estate taxes, through the day prior to closing based upon the taxes on
90 the actual tax bill for the year of closing, with Buyer and Seller each owing his or her pro-rata share. Buyer shall, within 5
91 days of receipt, forward a copy of the bill to the forwarding address Seller agrees to provide at closing. The Parties shall
92 re-prorate within 30 days of Buyer's receipt of the actual tax bill. Buyer and Seller agree this is a post-closing obligation
93 and is the responsibility of the Parties to complete, not the responsibility of the real estate brokers in this transaction.
94 LEASED PROPERT If Property is currently leased and lease(s) extend beyond closing, Seller shall assign Seller's rights
95 under said lease(s) and transfer all security deposits and prepaid rents thereunder to Buyer at closing. The terms of the
96 (written) (oral) STRIKE ONE lease(s), if any, are
97 Insert additional terms, if any, at lines 458-464 or 526-534 or attach as an addendum per line 525.
98 0 GOVERNMENT PROGRAMS: Seller shall deliver to Buyer, within days of acceptance of this Offer, a list of all
99 federal, state, county, and local conservation, farmland, environmental, or other land use programs, agreements, restrictions,
loo or conservation easements, which apply to any part of the Property (e.g., farmland preservation agreements, farmland
101 preservation or exclusive agricultural zoning, use value assessments, Forest Crop, Managed Forest, Conservation Reserve
102 Program, wetland mitigation, shoreland zoning mitigation plan or comparable programs), along with disclosure of any
103 penalties, fees, withdrawal charges, or payback obligations pending, or currently deferred, if any. This contingency will be
104 deemed satisfied unless Buyer delivers to Seller, within seven (7)days of Buyer's Actual Receipt of said list and disclosure, or
105 the deadline for delivery, whichever is earlier, a notice terminating this Offer based upon the use restrictions, program
106 requirements, and/or amount of any penalty, fee, charge, or payback obligation.
107 CAUTION: If Buyer does not terminate this Offer, Buyer is hereby agreeing that Buyer will continue in such programs,
108 as may apply, and Buyer agrees to reimburse Seller should Buyer fail to continue any such program such that Seller
los incurs any costs, penalties, damages, or fees that are imposed because the program is not continued after sale. The
110 Parties agree this provision survives closing.
111 0 MANAGED FOREST LAND: All, or part, of the Property is managed forest land under the Managed Forest Law(MFL).
112 This designation will continue after closing. Buyer is advised as follows: The MFL is a landowner incentive program that
113 encourages sustainable forestry on private woodlands by reducing and deferring property taxes. Orders designating lands as
114 managed forest lands remain in effect for 25 or 50 years. When ownership of land enrolled in the MFL program changes, the
115 new owner must sign and file a report of the change of ownership on a form provided by the Department of Natural Resources
116 and pay a fee. By filing this form, the new owner agrees to the associated MFL management plan and the MFL program rules.
117 The DNR Division of Forestry monitors forest management plan compliance. Changes you make to property that is subject to
118 an order designating it as managed forest land, or to its use, may jeopardize your benefits under the program or may cause
119 the property to be withdrawn from the program and may result in the assessment of penalties. For more information call the
120 local DNR forester or visit http://www.dnr.state.wi.us.
Page 3 of 10,WB-13
121 FENCES: Wis. Stat. § 90.03 requires the owners of adjoining properties to keep and maintain legal fences in equal shares
122 where one or both of the properties is used and occupied for farming or grazing purposes.
123 CAUTION: Consider an agreement addressing responsibility for fences if Property or adjoining land is used and
124 occupied for farming or grazing purposes.
125 USE VALUE ASSESSMENTS: The use value assessment system values agricultural land based on the income that would be
126 generated from its rental for agricultural use rather than its fair market value. When a person converts agricultural land to a
127 non-agricultural use (e.g., residential or commercial development), that person may owe a conversion charge. To obtain more
128 information about the use value law or conversion charge, contact the Wisconsin Department of Revenue's Equalization
129 Section or visit http://www.reyenue.wi.goy/.
13o FARMLAND PRESERVATION: Rezoning a property zoned farmland preservation to another use or the early termination of a
131 farmland preservation agreement or removal of land from such an agreement can trigger payment of a conversion fee equal to
132 3 times the class 1 "use value" of the land. Contact the Wisconsin Department of Agriculture, Trade and Consumer Protection
133 Division of Agricultural Resource Management or visit htti3://www.datcp.state.wi.us/for more information.
134 CONSERVATION RESERVE PROGRAM (CRP): The CRP encourages farmers, through contracts with the U.S. Department
135 of Agriculture, to stop growing crops on highly erodible or environmentally sensitive land and instead to plant a protective
136 cover of grass or trees. CRP contracts run for 10 to 15 years, and owners receive an annual rent plus one-half of the cost of
137 establishing permanent ground cover. Removing lands from the CRP in breach of a contract can be quite costly. For more
138 information call the state Farm Service Agency office or visit http://www.fsa.usda.gov/.
139 SHORELAND ZONING ORDINANCES: All counties must adopt shoreland zoning ordinances that meet or are more
14o restrictive than Wis. Admin. Code Chapter NR 115. County shoreland zoning ordinances apply to all unincorporated land
141 within 1,000 feet of a navigable lake, pond or flowage or within 300 feet of a navigable river or stream and establish minimum
142 standards for building setbacks and height limits, cutting trees and shrubs, lot sizes, water runoff, impervious surface
143 standards (that may be exceeded only if a mitigation plan is adopted) and repairs to nonconforming structures. Buyers must
144 conform to any existing mitigation plans. For more information call the county zoning office or visit http://www.dnr.state.wi.us/.
145 Buyer is advised to check with the applicable city, town or village for additional shoreland zoning restrictions, if any.
146 - - Within 3 days prior to closing, at a reasonable time pre-approved by Seller or
147 Seller's agent, Buyer shall have the right to walk through the Property to determine that there has been no significant change
148 in the condition of the Property, except for ordinary wear and tear and changes approved by Buyer, and that any defects
149 Seller has agreed to cure have been repaired in the manner agreed to by the Parties.
Is Is 15o Seller shall maintain the Property until the earlier of
151 closing or occupancy of Buyer in materially the same condition as of the date of acceptance of this Offer, except for ordinary
152 wear and tear. If, prior to closing, the Property is damaged in an amount of not more than five percent(5%)of the selling price,
153 Seller shall be obligated to repair the Property and restore it to the same condition that is was on the day of this Offer. No later
154 than closing, Seller shall provide Buyer with lien waivers for all lienable repairs and restoration. If the damage shall exceed
155 such sum, Seller shall promptly notify Buyer in writing of the damage and this Offer may be canceled at option of Buyer.
156 Should Buyer elect to carry out this Offer despite such damage, Buyer shall be entitled to the insurance proceeds, if any,
157 relating to the damage to the Property, plus a credit towards the purchase price equal to the amount of Seller's deductible on
158 such policy, if any. However, if this sale is financed by a land contract or a mortgage to Seller, any insurance proceeds shall
159 be held in trust for the sole purpose of restoring the Property.
160 DETTNTTTONM
161 ■ ACTUAL RECEIPT: "Actual Receipt" means that a Party, not the Party's recipient for delivery, if any, has the document or
162 written notice physically in the Party's possession, regardless of the method of delivery.
163 ■ CONDITIONS AFFECTING THE PROPERTY OR TRANSACTION: "Conditions Affecting the Property or Transaction" are
164 defined to include:
165 a. Proposed, planned or commenced public improvements or public construction projects which may result in special
166 assessments or otherwise materially affect the Property or the present use of the Property.
167 b. Government agency or court order requiring repair, alteration or correction of any existing condition.
168 c. Land division or subdivision for which required state or local approvals were not obtained.
169 d. A portion of the Property in a floodplain, wetland or shoreland zoning area under local, state or federal regulations.
17o e. A portion of the Property being subject to, or in violation of, a farmland preservation agreement or in a certified farmland
171 preservation zoning district(see lines 130-133), or enrolled in, or in violation of, a Forest Crop, Managed Forest(see lines
172 111-120), Conservation Reserve (see lines 134-138), or comparable program.
173 f. Boundary or lot disputes, encroachments or encumbrances, a joint driveway or violation of fence laws (Wis. Stat. ch. 90)
174 (where one or both of the properties is used and occupied for farming or grazing).
175 g. Material violations of environmental rules or other rules or agreements regulating the use of the Property.
176 h. Conditions constituting a significant health risk or safety hazard for occupants of the Property.
177 i. Underground storage tanks presently or previously on the Property for storage of flammable or combustible liquids,
178 including, but not limited to, gasoline and heating oil.
179 j. A Defect or contamination caused by unsafe concentrations of, or unsafe conditions relating to, pesticides, herbicides,
180 fertilizer, radon, radium in water supplies, lead or arsenic in soil, or other potentially hazardous or toxic substances on the
181 premises.
182 k. Production of methamphetamine (meth)or other hazardous or toxic substances on the Property.
183 I. High voltage electric (100 KV or greater) or steel natural gas transmission lines located on but not directly serving the
184 Property.
185 m. Defects in any well, including unsafe well water due to contaminants such as coliform, nitrates and atrazine, and out-of-
186 service wells and cisterns required to be abandoned (Wis. Admin. Code § NR 812.26) but that are not closed/abandoned
187 according to applicable regulations.
188 (Definitions Continued on page 5)
Property Address: Vacant parcels 030078,030079,030081,030093,030085,and 030095 Page 4 of 10,WB-13
189 IF LINE 190 IS NOT MARKED OR IS MARKED N/A, LINES 230-236 APPLY.
190 ❑FINANCING CONTINGENCY: This Offer is contingent upon Buyer being able to obtain a written
191 [INSERT LOAN PROGRAM OR SOURCE] first mortgage
192 loan commitment as described below, within days of acceptance of this Offer. The financing selected shall be in an
193 amount of not less than $ for a term of not less than years, amortized over not less than years.
194 Initial monthly payments of principal and interest shall not exceed $ . Monthly payments may
195 also include 1/12th of the estimated net annual real estate taxes, hazard insurance premiums, and private mortgage insurance
196 premiums. The mortgage may not include a prepayment premium. Buyer agrees to pay discount points and/or loan origination
197 fee in an amount not to exceed % of the loan. If the purchase price under this Offer is modified, the financed amount,
198 unless otherwise provided, shall be adjusted to the same percentage of the purchase price as in this contingency and the
199 monthly payments shall be adjusted as necessary to maintain the term and amortization stated above.
200 CHECK AND COMPLETE APPLICABLE FINANCING PROVISION AT LINE 201 or 202.
201 ❑FIXED RATE FINANCING: The annual rate of interest shall not exceed %.
202 ❑ ADJUSTABLE RATE FINANCING: The initial annual interest rate shall not exceed %. The initial interest
203 rate shall be fixed for months, at which time the interest rate may be increased not more than % per
204 year. The maximum interest rate during the mortgage term shall not exceed %. Monthly payments of principal
205 and interest may be adjusted to reflect interest changes.
206 If Buyer is using multiple loan sources or obtaining a construction loan or land contract financing, describe at lines 458-464 or
207 526-534 or in an addendum attached per line 525.
208 ■ BUYER'S LOAN COMMITMENT: Buyer agrees to pay all customary loan and closing costs, to promptly apply for a
209 mortgage loan, and to provide evidence of application promptly upon request of Seller. If Buyer qualifies for the loan described
210 in this Offer or another loan acceptable to Buyer, Buyer agrees to deliver to Seller a copy of the written loan commitment no
211 later than the deadline at line 192. Buyer and Seller agree that delivery of a copy of any written loan commitment to
212 Seller (even if subject to conditions) shall satisfy the Buyer's financing contingency if, after review of the loan
213 commitment, Buyer has directed, in writing, delivery of the loan commitment. Buyer's written direction shall
214 accompany the loan commitment. Delivery shall not satisfy this contingency if accompanied by a notice of
215 unacceptability.
216 CAUTION: The delivered commitment may contain conditions Buyer must yet satisfy to obligate the lender to provide
217 the loan. BUYER, BUYER'S LENDER AND AGENTS OF BUYER OR SELLER SHALL NOT DELIVER A LOAN
218 COMMITMENT TO SELLER OR SELLER'S AGENT WITHOUT BUYER'S PRIOR WRITTEN APPROVAL OR UNLESS
219 ACCOMPANIED BY A NOTICE OF UNACCEPTABILITY.
220 ■ SELLER TERMINATION RIGHTS: If Buyer does not make timely delivery of said commitment, Seller may terminate this
221 Offer if Seller delivers a written notice of termination to Buyer prior to Seller's Actual Receipt of a copy of Buyer's written loan
222 commitment.
223 ■ FINANCING UNAVAILABILITY: If financing is not available on the terms stated in this Offer (and Buyer has not already
224 delivered an acceptable loan commitment for other financing to Seller), Buyer shall promptly deliver written notice to Seller of
225 same including copies of lender(s)' rejection letter(s) or other evidence of unavailability. Unless a specific loan source is
226 named in this Offer, Seller shall then have 10 days to deliver to Buyer written notice of Seller's decision to finance this
227 transaction on the same terms set forth in this Offer and this Offer shall remain in full force and effect, with the time for closing
228 extended accordingly. If Seller's notice is not timely given, this Offer shall be null and void. Buyer authorizes Seller to obtain
229 any credit information reasonably appropriate to determine Buyer's credit worthiness for Seller financing.
230 ■ IF THIS OFFER IS NOT CONTINGENT ON FINANCING:
231
232
233 Buyer may or may not obtain mortgage financing but does not need the protection of a financing
234 contingency. Seller agrees to allow Buyer's appraiser access to the Property for purposes of an appraisal. Buyer understands
235 and agrees that this Offer is not subject to the appraisal meeting any particular value, unless this Offer is subject to an
236 appraisal contingency, nor does the right of access for an appraisal constitute a financing contingency.
237 ❑APPRAISAL CONTINGENCY: This Offer is contingent upon the Buyer or Buyer's lender having the Property appraised
238 at Buyer's expense by a Wisconsin licensed or certified independent appraiser who issues an appraisal report dated
239 subsequent to the date of this Offer indicating an appraised value for the Property equal to or greater than the agreed upon
240 purchase price. This contingency shall be deemed satisfied unless Buyer, within days of acceptance, delivers to
241 Seller a copy of the appraisal report which indicates that the appraised value is not equal to or greater than the agreed upon
242 purchase price, accompanied by a written notice of termination.
243 CAUTION: An appraisal ordered by Buyer's lender may not be received until shortly before closing. Consider whether
244 deadlines provide adequate time for performance.
Page 5 of 10,WB-13
245 IDEFINITIONS CONTINUED FROM PAGE 311
246 n. Defects in any septic system or other sanitary disposal system on the Property or out-of-service septic systems not
247 closed/abandoned according to applicable regulations.
248 0. Subsoil conditions which would significantly increase the cost of development including, but not limited to, subsurface
249 foundations or waste material; organic or non-organic fill; dumpsites where pesticides, herbicides, fertilizer or other toxic
250 or hazardous materials or containers for these materials were disposed of in violation of manufacturer's or government
251 guidelines or other laws regulating said disposal; high groundwater; adverse soil conditions (e.g. low load bearing
252 capacity, earth or soil movement, slides)or excessive rocks or rock formations.
253 p. Brownfields (abandoned, idled or under-used land which may be subject to environmental contamination) or other
254 contaminated land, or soils contamination remediated under PECFA, the Department of Natural Resources (DNR)
255 Remediation and Redevelopment Program, the Agricultural Chemical Cleanup Program or other similar program.
256 q. Lack of legal vehicular access to the Property from public roads.
257 r. Homeowners' associations, common areas shared or co-owned with others, zoning violations or nonconforming uses,
258 conservation easements, restrictive covenants, rights-of-way, easements, easement maintenance agreements, or use of
259 a part of Property by non-owners, other than recorded utility easements.
260 S. Special purpose district, such as a drainage district, lake district, sanitary district or sewer district, that has the authority to
261 impose assessments against the real property located within the district.
262 t. Federal, state or local regulations requiring repairs, alterations or corrections of an existing condition.
263 u. Property tax increases, other than normal annual increases; completed or pending property tax reassessment of the
264 Property, or proposed or pending special assessments.
265 v. Burial sites, archeological artifacts, mineral rights, orchards or endangered species.
266 w. Flooding, standing water, drainage problems or other water problems on or affecting the Property.
267 X. Material damage from fire, wind, floods, earthquake, expansive soils, erosion or landslides.
268 Y. Significant odor, noise, water intrusion or other irritants emanating from neighboring property.
269 Z. Substantial crop damage from disease, insects, soil contamination, wildlife or other causes; diseased trees; or substantial
270 injuries or disease in livestock on the Property or neighboring properties.
271 aa. Existing or abandoned manure storage facilities on the Property.
272 bb. Impact fees, or other conditions or occurrences that would significantly increase development costs or reduce the value of
273 the Property to a reasonable person with knowledge of the nature and scope of the condition or occurrence.
274 cc. The Property is subject to a mitigation plan required by DNR rules related to county shoreland zoning ordinances that
275 obligates the owner to establish or maintain certain measures related to shoreland conditions, enforceable by the county
276 (see lines 139-145).
277 dd. All or part of the land has been assessed as agricultural land, the owner has been assessed a use-value conversion
278 charge or the payment of a use-value conversion charge has been deferred.
279 ■ DEADLINES: "Deadlines" expressed as a number of"days"from an event, such as acceptance, are calculated by excluding
280 the day the event occurred and by counting subsequent calendar days. The deadline expires at midnight on the last day.
281 Deadlines expressed as a specific number of "business days" exclude Saturdays, Sundays, any legal public holiday under
282 Wisconsin or Federal law, and any other day designated by the President such that the postal service does not receive
283 registered mail or make regular deliveries on that day. Deadlines expressed as a specific number of "hours" from the
284 occurrence of an event, such as receipt of a notice, are calculated from the exact time of the event, and by counting 24 hours
285 per calendar day. Deadlines expressed as a specific day of the calendar year or as the day of a specific event, such as
286 closing, expire at midnight of that day.
287 ■ DEFECT: "Defect" means a condition that would have a significant adverse effect on the value of the Property; that would
288 significantly impair the health or safety of future occupants of the Property; or that if not repaired, removed or replaced would
289 significantly shorten or adversely affect the expected normal life of the premises.
290 ■ FIXTURE: A "Fixture" is an item of property which is physically attached to or so closely associated with land so as to be
291 treated as part of the real estate, including, without limitation, physically attached items not easily removable without damage
292 to the premises, items specifically adapted to the premises, and items customarily treated as fixtures, including, but not limited
293 to, all: perennial crops; garden bulbs; plants; shrubs and trees and fences; storage buildings on permanent foundations and
294 docks/piers on permanent foundations.
295 CAUTION: Exclude any Fixtures to be retained by Seller or which are rented on lines 18-19.
296 ■ PROPERTY: Unless otherwise stated, "Property" means the real estate described at lines 4-7.
297 1PROPERTY DEVELOPMENT WARNINGI If Buyer contemplates developing Property for a use other than the current use,
298 there are a variety of issues which should be addressed to ensure the development or new use is feasible. Municipal and
299 zoning ordinances, recorded building and use restrictions, covenants and easements may prohibit certain improvements or
300 uses and therefore should be reviewed. Building permits, zoning variances, Architectural Control Committee approvals,
301 estimates for utility hook-up expenses, special assessments, changes for installation of roads or utilities, environmental audits,
302 subsoil tests, or other development related fees may need to be obtained or verified in order to determine the feasibility of
303 development of, or a particular use for, a property. Optional contingencies which allow Buyer to investigate certain of these
304 issues can be found at lines 306-350 and Buyer may add contingencies as needed in addenda (see line 525). Buyer should
305 review any plans for development or use changes to determine what issues should be addressed in these contingencies.
Property Address: Vacant parcels 030078,030079,030081,030093,030085,and 030095 Page 6 of 10,WB-13
306 ❑PROPOSED USE CONTINGENCIES: Buyer is purchasing the Property for the purpose of:
307
308
309 [insert proposed use and type and size of building, if applicable; e.g. three bedroom single family home]. The optional
310 provisions checked on lines 314-345 shall be deemed satisfied unless Buyer, within days of acceptance, delivers
311 written notice to Seller specifying those items which cannot be satisfied and written evidence substantiating why each specific
312 item included in Buyer's notice cannot be satisfied. Upon delivery of Buyer's notice, this Offer shall be null and void. Seller
313 agrees to cooperate with Buyer as necessary to satisfy the contingencies checked at lines 314-350.
314 ❑ZONING CLASSIFICATION CONFIRMATION: This Offer is contingent upon Buyer obtaining, at(Buyer's) (Seller's)
315 STRIKE ONE ("Buyer's" if neither is stricken)expense, verification that the Property is zoned
316 and that the Property's zoning allows the Buyer's proposed use described at lines 306-308.
317 ❑SUBSOILS: This offer is contingent upon Buyer obtaining, at (Buyer's) (Seller's) STRIKE ONE ("Buyer's" if neither
318 is stricken) expense, written evidence from a qualified soils expert that the Property is free of any subsoil condition which
319 would make the proposed use described at lines 306-308 impossible or significantly increase the costs of such
320 development.
321 ❑ PRIVATE ONSITE WASTEWATER TREATMENT SYSTEM (POWTS) SUITABILITY: This Offer is contingent
322 upon Buyer obtaining, at(Buyer's) (Seller's) STRIKE ONEI("Buyer's" if neither is stricken)expense, written evidence from
323 a certified soils tester that (a) the soils at the Property locations selected by Buyer, and (b) all other conditions that must
324 be approved, meet the legal requirements in effect on the date of this Offer to obtain a permit for a POWTS for use of the
325 Property as stated on lines 306-308. The POWTS (septic system) allowed by the written evidence must be one of
326 the following POWTS that is approved by the State for use with the type of property identified at lines 306-308 CHEC
327 JALL THAT APPL :❑conventional in-ground; ❑mound; ❑at grade; ❑in-ground pressure distribution; ❑holding tank;
328 ❑other:
329 ❑EASEMENTS AND RESTRICTIONS: This Offer is contingent upon Buyer obtaining, at (Buyer's) (Seller's)ISTRIKE
330 ONE ("Buyer's" if neither is stricken) expense, copies of all public and private easements, covenants and restrictions
331 affecting the Property and a written determination by a qualified independent third party that none of these prohibit or
332 significantly delay or increase the costs of the proposed use or development identified at lines 306-308.
333 0 APPROVALS: This Offer is contingent upon Buyer obtaining, at (Buyer's) (Seller's) STRIKE ONE ("Buyer's" if
334 neither is stricken) expense, permits, approvals and licenses, as appropriate, or the final discretionary action by the
335 granting authority prior to the issuance of such permits, approvals and licenses, for the following items related to Buyer's
336 proposed use:
337
338 ❑UTILITIES: This Offer is contingent upon Buyer obtaining, at(Buyer's) (Seller's) STRIKE ONE ("Buyer's" if neither
339 is stricken)expense,written verification of the following utility connections at the listed locations (e.g., on the Property, at
340 the lot line, across the street, etc.) CHECK AND COMPLETE AS APPLICABLEI: ❑electricity
341 ❑gas ; ❑sewer ; ❑water ;
342 ❑telephone ; ❑cable ; ❑other
343 =ACCESS TO PROPERTY: This Offer is contingent upon Buyer obtaining, at (Buyer's) (Seller's) ISTRIKE ONE
344 ("Buyer's" if neither is stricken)expense, written verification that there is legal vehicular access to the Property from public
345 roads.
346 ❑ LAND USE APPROVAL: This Offer is contingent upon Buyer obtaining, at(Buyer's) (Seller's) STRIKE ONE ("Buyer's" if
347 neither is stricken) expense, a ❑ rezoning; ❑ conditional use permit; ❑ license; ❑ variance; ❑ building permit; ❑
348 occupancy permit; ❑other CHECK ALL THAT APPL , and delivering
349 written notice to Seller if the item cannot be obtained, all within days of acceptance for the Property for its proposed
350 use described at lines 306-308.
351 ❑ MAP OF THE PROPERTY: This Offer is contingent upon (Buyer obtaining) (Seller providing) STRIKE ONE ("Seller
352 providing" if neither is stricken) a Map of the Property dated subsequent to the date of acceptance of this Offer prepared by a
353 registered land surveyor, within days of acceptance, at(Buyer's) (Seller's) STRIKE ONE ("Seller's" if neither is stricken)
354 expense. The map shall show minimum of acres, maximum of acres, the legal description of the
355 Property, the Property's boundaries and dimensions, visible encroachments upon the Property, the location of improvements,
356 if any, and:
357 [STRIKE AND COMPLETE AS APPLICABLE] Additional map features which may be added include, but are not limited to:
358 staking of all corners of the Property; identifying dedicated and apparent streets; lot dimensions; total acreage or square
359 footage; easements or rights-of-way. CAUTION: Consider the cost and the need for map features before selecting them.
36o Also consider the time required to obtain the map when setting the deadline. This contingency shall be deemed satisfied
361 unless Buyer, within five days of the earlier of: (1) Buyer's receipt of the map; or (2) the deadline for delivery of said map,
362 delivers to Seller a copy of the map and a written notice which identifies: (1) the significant encroachment; (2) information
363 materially inconsistent with prior representations; or(3)failure to meet requirements stated within this contingency.
364 Upon delivery of Buyer's notice, this Offer shall be null and void.
Page 7 of 10,WB-13
365 1PROPERTY DIMENSIONS AND SURVEYSII Buyer acknowledges that any land dimensions, total square footage, acreage
366 figures, or allocation of acreage information, provided to Buyer by Seller or by a broker, may be approximate because of
367 rounding, formulas used or other reasons, unless verified by survey or other means.
368 CAUTION: Buyer should verify land dimensions, total square footage/acreage figures and allocation of acreage
369 information if material to Buyer's decision to purchase.
370 JEARNEST MONEY
371 ■ HELD BY: Unless otherwise agreed, earnest money shall be paid to and held in the trust account of the listing broker
372 (Buyer's agent if Property is not listed or Seller's account if no broker is involved), until applied to the purchase price or
373 otherwise disbursed as provided in the Offer.
374 CAUTION: Should persons other than a broker hold earnest money, an escrow agreement should be drafted by the
375 Parties or an attorney. If someone other than Buyer makes payment of earnest money, consider a special
376 disbursement agreement.
377 ■ DISBURSEMENT: If negotiations do not result in an accepted offer, the earnest money shall be promptly disbursed (after
378 clearance from payor's depository institution if earnest money is paid by check)to the person(s)who paid the earnest money.
379 At closing, earnest money shall be disbursed according to the closing statement. If this Offer does not close, the earnest
380 money shall be disbursed according to a written disbursement agreement signed by all Parties to this Offer. If said
381 disbursement agreement has not been delivered to broker within 60 days after the date set for closing, broker may disburse
382 the earnest money: (1) as directed by an attorney who has reviewed the transaction and does not represent Buyer or Seller;
383 (2) into a court hearing a lawsuit involving the earnest money and all Parties to this Offer; (3) as directed by court order; or(4)
384 any other disbursement required or allowed by law. Broker may retain legal services to direct disbursement per(1)or to file an
385 interpleader action per (2) and broker may deduct from the earnest money any costs and reasonable attorneys fees, not to
386 exceed $250, prior to disbursement.
387 ■ LEGAL RIGHTS/ACTION: Broker's disbursement of earnest money does not determine the legal rights of the Parties in
388 relation to this Offer. Buyer's or Seller's legal right to earnest money cannot be determined by broker. At least 30 days prior to
389 disbursement per(1) or(4) above, broker shall send Buyer and Seller notice of the disbursement by certified mail. If Buyer or
390 Seller disagree with broker's proposed disbursement, a lawsuit may be filed to obtain a court order regarding disbursement.
391 Small Claims Court has jurisdiction over all earnest money disputes arising out of the sale of residential property with 1-4
392 dwelling units and certain other earnest money disputes. Buyer and Seller should consider consulting attorneys regarding their
393 legal rights under this Offer in case of a dispute. Both Parties agree to hold the broker harmless from any liability for good faith
394 disbursement of earnest money in accordance with this Offer or applicable Department of Regulation and Licensing
395 regulations concerning earnest money. See Wis. Admin. Code Ch. RL 18.
396 IDISTRIBUTION OF INFORMATION Buyer and Seller authorize the agents of Buyer and Seller to: (i)distribute copies of the
397 Offer to Buyer's lender, appraisers, title insurance companies and any other settlement service providers for the transaction as
398 defined by the Real Estate Settlement Procedures Act(RESPA); (ii) report sales and financing concession data to multiple
399 listing service sold databases; and (iii) provide active listing, pending sale, closed sale and financing concession information
40o and data, and related information regarding seller contributions, incentives or assistance, and third party gifts, to appraisers
401 researching comparable sales, market conditions and listings, upon inquiry.
402 NOTICE ABOUT SEX OFFENDER REGISTRYI You may obtain information about the sex offender registry and persons
403 registered with the registry by contacting the Wisconsin Department of Corrections on the Internet at
404 http://www.widocoffenders.org or by telephone at(608)240-5830.
Property Address: Vacant parcels 030078,030079,030081,030093,030085, and 030095 Page 8 of 10,WB-13
405 0 SECONDARY OFFER: This Offer is secondary to a prior accepted offer. This Offer shall become primary upon delivery
406 of written notice to Buyer that this Offer is primary. Unless otherwise provided, Seller is not obligated to give Buyer notice prior
407 to any deadline, nor is any particular secondary buyer given the right to be made primary ahead of other secondary buyers.
408 Buyer may declare this Offer null and void by delivering written notice of withdrawal to Seller prior to delivery of Seller's notice
409 that this Offer is primary. Buyer may not deliver notice of withdrawal earlier than days after acceptance of this Offer. All
410 other Offer deadlines which are run from acceptance shall run from the time this Offer becomes primary.
411 ITIME IS OF THE ESSENCE "Time is of the Essence" as to: (1) earnest money payment(s); (2) binding acceptance; (3)
412 occupancy; (4) date of closing; (5) contingency Deadlines STRIKE AS APPLICABLE and all other dates and Deadlines in this
413 Offer except:
414 If "Time is of the Essence" applies to a date or Deadline, failure to perform by the exact date or Deadline is a breach of
415 contract. If"Time is of the Essence" does not apply to a date or Deadline, then performance within a reasonable time of the
416 date or Deadline is allowed before a breach occurs.
417 ITITILE EVIDENCE
418 ■ CONVEYANCE OF TITLE: Upon payment of the purchase price, Seller shall convey the Property by warranty deed
419 (or trustee's deed if Seller is a trust, personal representative's deed if Seller is an estate or other conveyance as
420 provided herein), free and clear of all liens and encumbrances, except: municipal and zoning ordinances and agreements
421 entered under them, recorded easements for the distribution of utility and municipal services, recorded building and use
422 restrictions and covenants, present uses of the Property in violation of the foregoing disclosed in Seller's disclosure report and
423 in this Offer, general taxes levied in the year of closing and
424
425
426
427 which constitutes merchantable title for purposes of this transaction. Seller shall complete and execute the documents
428 necessary to record the conveyance at Seller's cost and pay the Wisconsin Real Estate Transfer Fee.
429 ■ TITLE EVIDENCE: Seller shall give evidence of title in the form of an owner's policy of title insurance in the amount of the
430 purchase price on a current ALTA form issued by an insurer licensed to write title insurance in Wisconsin. Seller shall pay all
431 costs of providing title evidence to Buyer. Buyer shall pay all costs of providing title evidence required by Buyer's lender.
432 ■ GAP ENDORSEMENT: Seller shall provide a "gap" endorsement or equivalent gap coverage at (Seller's) (Buyer's) STRIKE
433 ONE ("Seller's" if neither stricken) cost to provide coverage for any liens or encumbrances first filed or recorded after the
434 effective date of the title insurance commitment and before the deed is recorded, subject to the title insurance policy
435 exclusions and exceptions, provided the title company will issue the endorsement. If a gap endorsement or equivalent gap
436 coverage is not available, Buyer may give written notice that title is not acceptable for closing (see lines 442-449).
437 ■ PROVISION OF MERCHANTABLE TITLE: For purposes of closing, title evidence shall be acceptable if the required title
438 insurance commitment is delivered to Buyer's attorney or Buyer not more than days after acceptance ("15" if left blank),
439 showing title to the Property as of a date no more than 15 days before delivery of such title evidence to be merchantable per
440 lines 418-427, subject only to liens which will be paid out of the proceeds of closing and standard title insurance requirements
441 and exceptions, as appropriate.
442 ■ TITLE NOT ACCEPTABLE FOR CLOSING: If title is not acceptable for closing, Buyer shall notify Seller in writing of
443 objections to title within days ("15" if left blank) after delivery of the title commitment to Buyer or Buyer's attorney. In
444 such event, Seller shall have a reasonable time, but not exceeding days ("5" if left blank) from Buyer's delivery of the
445 notice stating title objections, to deliver notice to Buyer stating Seller's election to remove the objections by the time set for
446 closing. In the event that Seller is unable to remove said objections, Buyer may deliver to Seller written notice waiving the
447 objections, and the time for closing shall be extended accordingly. If Buyer does not waive the objections, Buyer shall deliver
448 written notice of termination and this Offer shall be null and void. Providing title evidence acceptable for closing does not
449 extinguish Seller's obligations to give merchantable title to Buyer.
450 ■ SPECIAL ASSESSMENTS: Special assessments, if any, levied or for work actually commenced prior to the date of this
451 Offer shall be paid by Seller no later than closing. All other special assessments shall be paid by Buyer.
452 CAUTION: Consider a special agreement if area assessments, property owners association assessments, special
453 charges for current services under Wis. Stat. § 66.0627 or other expenses are contemplated. "Other expenses" are
454 one-time charges or ongoing use fees for public improvements (other than those resulting in special assessments)
455 relating to curb, gutter, street, sidewalk, municipal water, sanitary and storm water and storm sewer (including all
456 sewer mains and hook-up/connection and interceptor charges), parks, street lighting and street trees, and impact
457 fees for other public facilities, as defined in Wis. Stat. § 66.0617(1)(f).
458 ADDITIONAL PROVISIONS/CONTINGENCIES
459
460
461
462
463
464
465 DEFAULT Seller and Buyer each have the legal duty to use good faith and due diligence in completing the terms and
466 conditions of this Offer. A material failure to perform any obligation under this Offer is a default which may subject the
467 defaulting party to liability for damages or other legal remedies.
468 If Buyer defaults, Seller may:
469 (1) sue for specific performance and request the earnest money as partial payment of the purchase price; or
470 (2) terminate the Offer and have the option to: (a) request the earnest money as liquidated damages; or (b) sue for
471 actual damages.
472 If Seller defaults, Buyer may:
473 (1) sue for specific performance; or
474 (2) terminate the Offer and request the return of the earnest money, sue for actual damages, or both.
475 In addition, the Parties may seek any other remedies available in law or equity.
476 The Parties understand that the availability of any judicial remedy will depend upon the circumstances of the situation and the
477 discretion of the courts. If either Party defaults, the Parties may renegotiate the Offer or seek nonjudicial dispute resolution
478 instead of the remedies outlined above. By agreeing to binding arbitration, the Parties may lose the right to litigate in a court of
479 law those disputes covered by the arbitration agreement.
48o NOTE: IF ACCEPTED, THIS OFFER CAN CREATE A LEGALLY ENFORCEABLE CONTRACT. BOTH PARTIES SHOULD
481 READ THIS DOCUMENT CAREFULLY. BROKERS MAY PROVIDE A GENERAL EXPLANATION OF THE PROVISIONS
482 OF THE OFFER BUT ARE PROHIBITED BY LAW FROM GIVING ADVICE OR OPINIONS CONCERNING YOUR LEGAL
483 RIGHTS UNDER THIS OFFER OR HOW TITLE SHOULD BE TAKEN AT CLOSING. AN ATTORNEY SHOULD BE
484 CONSULTED IF LEGAL ADVICE IS NEEDED.
485 JENTIRE CONTRACT This Offer, including any amendments to it, contains the entire agreement of the Buyer and Seller
486 regarding the transaction. All prior negotiations and discussions have been merged into this Offer. This agreement binds and
487 inures to the benefit of the Parties to this Offer and their successors in interest.
488 JINSPECTIONS AND TESTING Buyer may only conduct inspections or tests if specific contingencies are included as a part of
489 this Offer. An "inspection" is defined as an observation of the Property which does not include an appraisal or testing of the
490 Property, other than testing for leaking carbon monoxide, or testing for leaking LP gas or natural gas used as a fuel source,
491 which are hereby authorized. A "test" is defined as the taking of samples of materials such as soils, water, air or building
492 materials from the Property and the laboratory or other analysis of these materials. Seller agrees to allow Buyer's inspectors,
493 testers and appraisers reasonable access to the Property upon advance notice, if necessary to satisfy the contingencies in
494 this Offer. Buyer and licensees may be present at all inspections and testing. Except as otherwise provided, Seller's
495 authorization for inspections does not authorize Buyer to conduct testing of the Property.
496 NOTE: Any contingency authorizing testing should specify the areas of the Property to be tested, the purpose of the
497 test, (e.g., to determine if environmental contamination is present), any limitations on Buyer's testing and any other
498 material terms of the contingency.
499 Buyer agrees to promptly restore the Property to its original condition after Buyer's inspections and testing are completed
500 unless otherwise agreed to with Seller. Buyer agrees to promptly provide copies of all inspection and testing reports to Seller.
501 Seller acknowledges that certain inspections or tests may detect environmental pollution which may be required to be reported
502 to the Wisconsin Department of Natural Resources.
Property Address: Vacant parcels 030078,030079,030081,030093,030085, and 030095 Page 10 of 10,WB-13
503 0 INSPECTION CONTINGENCY: This contingency only authorizes inspections, not testing (see lines 488-502). This Offer
504 is contingent upon a qualified independent inspector(s) conducting an inspection(s), of the Property which discloses no
505 Defects. This Offer is further contingent upon a qualified independent inspector or independent qualified third party performing
506 an inspection of
507 (list any Property feature(s)to be separately inspected, e.g., dumpsite, etc.)which discloses no Defects. Buyer shall order the
508 inspection(s) and be responsible for all costs of inspection(s). Buyer may have follow-up inspections recommended in a
509 written report resulting from an authorized inspection performed provided they occur prior to the deadline specified at line 513.
510 Inspection(s)shall be performed by a qualified independent inspector or independent qualified third party.
511 CAUTION: Buyer should provide sufficient time for the primary inspection and/or any specialized inspection(s), as
512 well as any follow-up inspection(s).
513 This contingency shall be deemed satisfied unless Buyer, within days of acceptance, delivers to Seller a copy of the written
514 inspection report(s)and a written notice listing the Defect(s)identified in those report(s)to which Buyer objects(Notice of Defects).
515 CAUTION: A proposed amendment is not a Notice of Defects and will not satisfy this notice requirement.
516 For the purposes of this contingency, Defects (see lines 287-289)do not include conditions the nature and extent of which the
517 Buyer had actual knowledge or written notice before signing this Offer.
518 ■ RIGHT TO CURE: Seller (shall)(shall not) STRIKE ONE ("shall" if neither is stricken) have a right to cure the Defects. If
519 Seller has the right to cure, Seller may satisfy this contingency by: (1) delivering written notice to Buyer within 10 days of
52o Buyer's delivery of the Notice of Defects stating Seller's election to cure Defects; (2) curing the Defects in a good and
521 workmanlike manner; and (3) delivering to Buyer a written report detailing the work done within 3 days prior to closing. This
522 Offer shall be null and void if Buyer makes timely delivery of the Notice of Defects and written inspection report(s) and: (1)
523 Seller does not have a right to cure or(2)Seller has a right to cure but: (a)Seller delivers written notice that Seller will not cure
524 or(b)Seller does not timely deliver the written notice of election to cure.
525 0 ADDENDA: The attached is/are made part of this Offer.
526 JADDITIONAL PROVISIONS/CONTINGENCIES
527 This Offer is contingent upon Buyer and Seller mutually agreeing upon a land use and site plan within 60 days of Acceptance,
528 unless otherwise extended in writing;failing which this Offer will be deemed null and void.
529 Buyer hereby acknowledges the existing environmental contamination of the parcel(s).
530 State of WI required disclosure:William Steiner is a licensed real estate broker.
531
532
533
534
535 This Offer was drafted by[Licensee and Firm]
536 on
537 (x) 11/8/2020 9
538 Buyer's Signature Print Name Here► Willimer,Member of Bridgeview Holdings LLC Date
539 (X)
540 Buyer's Signature Print Name Here► Date
541 JEARNEST MONEY RECEIPT Broker acknowledges receipt of earnest money as per line 10 of the above Offer.
542 Broker(by)
543 SELLER ACCEPTS THIS OFFER. THE WARRANTIES, REPRESENTATIONS AND COVENANTS MADE IN THIS OFFER
544 SURVIVE CLOSING AND THE CONVEYANCE OF THE PROPERTY. SELLER AGREES TO CONVEY THE PROPERTY ON
545 THE TERMS AND CONDITIONS AS SET FORTH HEREIN AND ACKNOWLEDGES RECEIPT OF A COPY OF THIS OFFER.
546 (X)
547 Seller's Signature Print Name Here► Date
548 (X)
549 Seller's Signature Print Name Here► Date
55o This Offer was presented to Seller by[Licensee and Firm]
551 on at a.m./p.m.
552 This Offer is rejected This Offer is countered [See attached counter]
553 Seller Initials Date Seller Initials Date
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TO: City of Oshkosh Redevelopment Authority
FROM: Allen Davis, Community Development Director
DATE: November 14, 2019
SUBJECT: 19-34 Award Demolition Bid for 43 E. 711,Avenue Block to Linnco, Inc.
($467,714.50)
BACKGROUND
The City has acquired the properties over the past several years in anticipation of
redevelopment consistent with the Southshore Redevelopment Plan and TIF #20. Phase
1 Environmental Site Assessments (ESA) have been completed. The demolition of the
structures must be completed in order to perform Phase 2 Environmental testing. All
these efforts are in anticipation of issuing a Request for Proposals (RFP) for the
redevelopment of this area in the near future. The City Council approved the bid award
on November 12, 2019.
ANALYSIS
The proposed demolition contract will remove the buildings and any hard surfaces on
the properties. Available materials will be recycled including the concrete and asphalt
which will be crushed and reused for back fill as needed, and stockpiled for future use
on 91hAve and/or the Pioneer Drive riverwalk. The contract also requires the grading,
top soil and seed and hydro mulch so that the site will be development ready and
attractive.
FISCAL IMPACT
TIF #20 has the cash on hand for this contract.
RECOMMENDATION
RDA awards the demolition bid to LinnCo for $467,714.50.
REDEVELOPMENT AUTHORITY OF THE CITY OF OSHKOSH,WISCONSIN
NOVEMBER 20, 2019 19-34 RESOLUTION
(CARRIED LOST LAID OVER WITHDRAWN )
PURPOSE: AWARD DEMOLITION BID FOR 43 E. 7TH AVENUE BLOCK TO
LINNCO, INC. $467,714.50
WHEREAS, the City of Oshkosh has heretofore advertised for bids for demolition
of 43 E. 711 Avenue block; and
WHEREAS, upon the opening and tabulation of bids it appears that the following
is the most advantageous bid:
LinnCo, Inc.
2 Second Ave S, #160
Sauk Rapids, MN 56379
TOTAL BASE BID $ 203,198.00
ALTERNATE 1 $ 37,618.25
ALTERNATE 2 $ 78,780.00
ALTERNATE 3 $ 99,888.00
ALTERNATE 4 $ 42,710.00
ALTERNATE 5 $ 5,520.00
TOTAL BID $467,714.50
NOW, THEREFORE, BE IT RESOLVED by the Redevelopment Authority of the
City of Oshkosh that said bid is hereby accepted and the proper City officials are hereby
authorized and directed to enter into an appropriate agreement for the purpose of same,
all according to plans, specifications, and bid on file. Money for this purpose is hereby
appropriated from:
Acct. No. 0534-1040-7216-67903 TID #20 South Shore Redevelopment
Acct. No. 0534-1040-7216-67904 TID #20 South Shore Redevelopment
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TO: City of Oshkosh Redevelopment Authority
FROM: Allen Davis, Community Development Director
DATE: November 14, 2019
SUBJECT: November 20, 2019 RDA Agenda items
DISCUSSION— LONG TERM COMMUNITY GARDEN
Various neighborhood associations and groups have expressed interest in obtaining
land for community gardens for permanent gardens. At this time, the RDA has only
granted use of RDA-land for temporary uses.
EXECUTIVE DIRECTOR'S REPORT 11.20.19
Acquisition and Disposition Policy and Funding Follow Up
The City Council held a Workshop on the topic on August 13, 2019. In general, Council indicated
that the proposed process and policies are in alignment with their expectations. Staff also
brought the Acquisition/Disposition Funding Program to the Council in September and the
October budget meeting. The funding programs are scheduled for action at the December 10,
2019 Council meeting. The RDA is specifically involved with the Redevelopment sites and single
residential lot acquisition and disposition processes. The matrix attached identifies the funding
and regulations for each funding source.
Oshkosh Arena Update:
The City made the pay-go payment to Fox Valley Pro Basketball in October, 2019. The RDA stills
owns the land. The bankruptcy court is still working through the process.
Update on Healthy Neighborhood Initiative:
City staff is working with Habitat, GO-HNI and the Oshkosh Area Community
Foundation to identify the next "Rock the Block" location which is Congress Field in
May, 2020. They have already identified more than 50 homes for improvements.
Staff continues to seek more blighted, scattered sites in residential neighborhoods. Staff
continues to use the following factors for these possible blight removal or rehabilitation
projects:
1. Location in an LMI Neighborhood.
2. Condition of the structure.
3. Within a neighborhood association, an approved redevelopment area or area
plan.
4. Code Enforcement actions pending.
5. Acquisition cost is below the assessed value.
6. Estimated rehabilitation cost and resale price.
7. The potential impact on the neighborhood as a result of the project.
S. Potential redevelopment in combination with adjoining properties.
Update in South Shore Redevelopment Area:
9t''Ave. crushing pile - Staff has informed the contractor that the crushing and
stockpiling on the site must end in the spring of 2020, when the 911, Ave. site is
prepped and all crushing is completed for the site.
Sawdust District Planning—City staff continues to work with Houseal and
Lavigne and area stakeholders on developing a more specific redevelopment plan
for the District. Staff hopes to have the draft plan completed in 2019.
Morgan District—The contractor has installed all the concrete and boardwalk for
the Riverwalk. Lights and bollards have been installed. WPS should be extending
power to the riverwalk in conjunction with the outfall construction project.
Pioneer Area—Mr. Art Dumke continues to work with City staff to explore
multiple development options and funding scenarios. The City drafted a TIF Plan
for possible redevelopment and the City Council approved the TIF Plan on
September 24, 2019. The site also qualifies for New Market Tax Credits and was
included in the recently approved Opportunity Zones.
9th Avenue extension to CN Railroad— Staff has prepared the CIP request for the
street construction from Main Street east to the tracks at the current railroad
crossing. Land acquisition and remediation will still be likely required.
Undergrounding the overhead utilities has also been submitted for a CIP request.
The 9th Ave. extension and utility undergrounding was put in the Favorable
Economic Conditions category.
Soatworks Property—The Option was granted to Morgan Partners.
Update on Marion & Pearl Redevelopment Area:
Parcels H, I &J: The City was successful in getting a SAG grant for parcels H and
I. The Development Agreement was approved by Council and has been executed.
Merge is working on environmental testing and architectural/engineering plans
for the parcels.
Sawyer Street/Oshkosh Avenue
Multi-modal Trail—WisDOT awarded the City $253,000 for extending the trail
east from Punhoqua through Rainbow Memorial Park to the Sawyer
Street/Oshkosh Avenue intersection in 2021. The City Council recently authorized
hiring a contract engineer to work on design, engineering and permitting for the
riverwalk through Rainbow Memorial Park starting in 2019.
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