HomeMy WebLinkAboutItem IV - PlanECONOMIC DEVELOPMENT & REDEVELOPMENT rZE ■
April 21, 2020
Project Plan Amendment
Tax Incremental District No. 19
[Northwest Industrial Park]
Oshkosh
Organizational Joint Review Board Meeting Held: Scheduled for April 21, 2020
Public Hearing Held:
Approval by Plan Commission:
Adoption by Common Council:
Approval by the Joint Review Board:
4
EHLERS
Scheduled for April 21, 2020
Scheduled for April 21, 2020
Scheduled for April 28, 2020
TBD
BUILDING COMMUNITIES. IT'S WHAT WE DO.
E�3 info@ehlers-inc.com % 1 (8pp) 552-1171 www.ehlers-inc.com
Table of Contents
ExecutiveSummary..................................................................................................................... 3
Mapof District Boundary........................................................................................................... 6
Map Showing Existing Uses and Conditions......................................................................7
EqualizedValue Test....................................................................................................................7
Statement Listing the Kind, Number and Location of All Proposed Public
Works or Improvements Within the District......................................................................7
Map Showing Proposed Improvements and Uses..........................................................8
Detailed List of Estimated Project Costs............................................................................ 8
Economic Feasibility Study, Description of the Methods of Financing
Estimated Project Costs and the Time When Related Costs or Monetary
Obligations are to be Incurred................................................................................................ 9
AnnexedProperty........................................................................................................................12
Estimate of Property to Be Devoted to Retail Business.............................................12
Proposed Changes of Zoning Ordinances, Master Plan, Map, Building Codes
andCity Ordinances...................................................................................................................12
Statement of the Proposed Method for the Relocation of any Persons to be
Displaced.........................................................................................................................................12
Orderly Development of the City..........................................................................................13
List of Estimated Non -Project Costs...................................................................................13
Legal Opinion Advising Whether the Plan is Complete and Complies with Wis.
Stat. § 66.1105(4)(f)....................................................................................................................14
Calculation of the Share of Projected Tax Increments Estimated to be Paid by
the Owners of Property in the Overlying Taxing Jurisdictions................................15
Tax Incremental District No. 19 Project Plan Amendment City of Oshkosh
Prepared By Ehlers Page 1 2
SECTION 1:
Executive Summary
Description of District
Tax Incremental District ("TID") No. 19 ("District") is an industrial district
created by the City on May 13, 2003 to pay costs associated with expansion of
the City's Northwest Industrial Park. As of January 1, 2019, the District's
incremental value is $8.78 million.
Amendment Purpose
The first purpose of this Amendment is to allow excess revenues to be
transferred to Tax Incremental District No. 16 ("TID No. 16", or the "Recipient
District") as permitted under Wis. Stat. § 66.1105(6)(f). TID No. 16 is the 100
Block redevelopment area. Excess revenues transferred from the District to TID
No. 16 will be used to provide grants or loans to businesses impacted by the
COVID-19 pandemic. Businesses qualifying for assistance will be located within,
or within'/2 mile of, TID No. 16.
The portion of the Plan Amendment meets the following criteria necessary to
allow for the transfer of excess revenue:
1. The District and the Recipient District lie within the same overlapping taxing
jurisdictions.
2. The District is within its expenditure period, which expires May 13, 2021.
3. The District has enough revenue to pay for all current Project Costs and has
enough excess revenue to pay for eligible project costs of the Recipient
District.
4. The Recipient District is a blighted area district which qualifies it as an
eligible recipient of excess revenue.
The second purpose of this Amendment is to permit the payment of cash grants
as an eligible Project Cost. As with the transfer of excess revenue to TID No. 16,
the purpose of including such costs is to permit the City to provide grants or
loans to businesses impacted by the pandemic. Grants or loans may be made
to businesses operating within the District, or within 'h mile of its boundaries.
Estimated Allocation of Increment
The City plans to transfer $250,000 to TID No. 16. Additional transfers may be
made to the extent funds are available and needed to support the City's efforts
to combat the economic and potentially blighting impacts of the pandemic.
Tax Incremental District No. 19 Project Plan Amendment City of Oshkosh
Prepared By Ehlers Page 13
Summary of Findings
As required by Wis. Stat. § 66.1105, and as documented in this Plan and the
exhibits contained and referenced herein, the following findings are made:
1. That "but for" the creation of this District, the development projected to
occur as detailed in this Plan: 1) would not occur; or 2) would not occur
in the manner, at the values, or within the timeframe desired by the City.
The scope of this Plan Amendment is limited to: 1) permitting payment of
cash grants or loans to businesses located in, or within'/2 mile of, the District;
and 2) the transfer of excess revenue to TID No. 16. But for the transfer of
that excess revenue, and the ability to pay cash grants and loans, the City
will have fewer resources available to assist businesses located in, and within
'/2 mile of, the District and the Recipient District. As a result of the pandemic,
a significant number of businesses have been directed to close, or to limit
operations. Anticipated economic consequences include unemployment
and loss of personal and business income, deferral or non-payment of user
fees and taxes, and potential permanent losses of businesses that will have
a blighting impact within the District, the Recipient District, surrounding
areas, and the City at large. The City therefore concludes that approval of
this Plan Amendment is consistent with the intent of the Tax Incremental
Financing Law.
2. The economic benefits of the District, as measured by increased
employment, business and personal income, and property value, are
sufficient to compensate for the cost of the improvements. The District is
generating enough revenue to pay its Project Costs and has excess revenue
that it can transfer to the Recipient District. By aiding businesses located in,
and within '/2 mile of, the District and the Recipient District the City expects
to help preserve jobs, businesses, and revenue streams important to funding
City operations such as utility and property tax payments. The City believes
that the economic benefits to be gained by paying cash grants and loans
within the District and transferring excess revenue to the Recipient District
outweigh the cost of making those payments and transfers.
3. The benefits of the proposal outweigh the anticipated tax increments to
be paid by the owners of property in the overlying taxing jurisdictions.
Taxpayers within all overlying taxing jurisdictions will be impacted by the
negative economic consequences of the pandemic. The economic benefits
associated with preservation of jobs and businesses benefit all taxing
jurisdictions and outweigh the anticipated tax increments to be paid in the
form of cash grants or loans, and the transfer to the Recipient District. As
required by Wis. Stat. § 66.1105(4)(i)4., a calculation of the share of
Tax Incremental District No. 19 Project Plan Amendment City of Oshkosh
Prepared By Ehlers Page 14
projected tax increments estimated to be paid by the owners of property in
the overlying taxing jurisdictions has been prepared and can be found in this
Plan.
4. The boundaries of the District are not being amended.
5. That Project Costs relate directly to promoting industrial development in the
District, consistent with the purpose for which the District is created.
6. Improvements to be made in the District are likely to significantly enhance
the value of substantially all of the other real property in the District.
7. The Plan for the District is feasible and is in conformity with the Master Plan
of the City.
8. The City estimates that 50% of the territory within the District will be
devoted to retail business at the end of the District's maximum expenditure
period pursuant to Wis. Stat. § 66.1105(5)(b).
Tax Incremental District No. 19 Project Plan Amendment City of Oshkosh
Prepared By Ehlers Page 15
SECTION 2:
Map of District Boundary &'/2 Mile Perimeter
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Tax Incremental District No. 19 Project Plan Amendment City of Oshkosh
Prepared By Ehlers Page 16
SECTION 3:
Map Showing Existing Uses and Conditions
The scope of this Plan Amendment makes no changes to the maps depicting
existing uses and conditions of real property within the District. The maps
included in the District Project Plan approved on May 13, 2003 are hereby
incorporated by reference.
SECTION 4:
Equalized Value Test
No territory will be added to the District. Demonstration of compliance with the
equalized value test is therefore not required for this Plan Amendment.
SECTION 5:
Statement Listing the Kind, Number and Location
of All Proposed Public Works or Improvements
Within the District
The Statement of Kind, Number and Location of Proposed Public Works and
Other Projects set forth in the District Project Plan approved on May 13, 2003
remains unchanged, with the following Project Cost category addition:
Revolving Loan/Grant Program (Cash Grants)
To mitigate economic consequences related to the COVID-19 pandemic, the
City plans to provide grants or loans to impacted businesses located in, or
within '/2 mile of, the District. Any funds collected as repayment of loans made
are not considered revenues to the District and will not be used to offset District
Project Costs. Instead, these funds may be placed into a revolving fund and will
continue to be used for the purposes stated above.
Tax Incremental District No. 19 Project Plan Amendment City of Oshkosh
Prepared By Ehlers Page 17
SECTION 6:
Map Showing Proposed Improvements and Uses
The scope of this Plan Amendment makes no changes to the maps depicting
proposed improvements and uses within the District. The maps included in the
District Project Plan approved on May 13, 2003 are hereby incorporated by
reference.
SECTION 7:
Detailed List of Estimated Project Costs
The District's original Plan included estimated Project Costs of $2.9 million
including $1.98 million for public infrastructure and $954,000 in financing and
interest expense.
As of December 31, 2019, total District Project Costs were approximately $2.4
million. The District's expenditure period ends on May 13, 2021, with scheduled
debt service payments running through 2023.
This Plan Amendment does not modify the previous estimates of District
Project Costs except that it permits the payment of cash grants as an eligible
Project Cost. Such payments, in the form of grants or loans may be made to
businesses operating within the District, or within 'h mile of its boundaries.
The City has not identified a specific cost estimate for grants or loans to be
paid from the District's funds. To the extent costs for this purpose are incurred,
they will be limited to cash on hand and based on demonstrated need.
In addition to the inclusion of cash grants as eligible Project Costs within this
Plan, the Amendment also permits the transfer of $250,000 to TID No. 16.
Additional transfers may be made to the extent funds are available and needed
to support the City's efforts to combat the economic and potentially blighting
impacts of the pandemic.
Tax Incremental District No. 19 Project Plan Amendment City of Oshkosh
Prepared By Ehlers Page 18
SECTION 8:
Economic Feasibility Study, Description of the
Methods of Financing Estimated Project Costs and
the Time When Related Costs or Monetary
Obligations are to be Incurred
The tables found in this Section provide projected cashflows for the District,
and the Recipient District. They assume that each district's current tax
incremental valuation and the tax rate will remain the same.
As a result of the COVID-19 pandemic, a significant number of businesses have
been directed to close, or to limit operations. Anticipated economic
consequences include unemployment and loss of personal and business
income, deferral or non-payment of user fees and taxes, and potential
permanent losses of businesses that will have a blighting impact within the
District, the Recipient District, surrounding areas, and the City at large.
As part of its response to the pandemic, the City plans to provide grants or
loans to impacted businesses to partially mitigate these economic
consequences. Businesses qualifying for assistance will be located within, or
within '/2 mile of, the District or the Recipient District.
The City plans to fund the Recipient District grant and loan pool in a total
amount of $1 million from the following funding sources:
Source
Amount
Recipient District (TID No. 16) Cash Balance
$
250,000
Transfer from District (TID NO. 19) Cash Balance
$
250,000
Transfer from TID No. 14 Cash Balance
$
250,000
Contribution from City Revolving Loan Fund
$
250,000
Total
$ 1,000,000
The transfer from Tax Incremental District No.14 will require amendment of that
district's project plan and will be considered concurrently with this Plan
Amendment.
The City's plan to make grants and loans available is economically feasible as
all funding proposed will come from unrestricted cash on hand.
Tax Incremental District No. 19 Project Plan Amendment City of Oshkosh
Prepared By Ehlers Page 19
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SECTION 9:
Annexed Property
A tax incremental district cannot include annexed territory unless at least three
years have elapsed since the annexation, or certain other requirements are met.
No territory is being added to the District as part of this Plan Amendment.
SECTION 10:
Estimate of Property to Be Devoted to Retail
Business
Pursuant to Wis. Stat. § 66.1105(5)(b), the City estimates that 50% of the
territory within the District will be devoted to retail business at the end of the
District's maximum expenditure period.
SECTION 11:
Proposed Changes of Zoning Ordinances, Master
Plan, Map, Building Codes and City Ordinances
As the scope of this Plan Amendment is limited to permitting payment of cash
grants and loans to businesses and the transfer of excess revenue to TID No.
16, there are no zoning ordinance, Master Plan, Map, building code or ordinance
changes required.
SECTION 12:
Statement of the Proposed Method for the
Relocation of any Persons to be Displaced
Should implementation of this Plan require relocation of individuals or business
operations, relocations will be handled in compliance with Wis. Stat. Chapter
32 and Wis. Admin. Code ADM 92.
Tax Incremental District No. 6 Project Plan City of Oshkosh
Prepared By Ehlers Page 1 12
SECTION 13:
Orderly Development of the City
Approval of this Plan Amendment promotes the orderly development of the
City providing financial resources needed to assist businesses located in, and
within '/2 mile of, the District and the Recipient District. As a result of the
pandemic, a significant number of businesses have been directed to close, or
to limit operations. Anticipated economic consequences include
unemployment and loss of personal and business income, deferral or non-
payment of user fees and taxes, and potential permanent losses of businesses
that will have a blighting impact within the District, the Recipient District,
surrounding areas, and the City at large. Takings measures to mitigate these
consequences promotes the orderly development of the City.
SECTION 14:
List of Estimated Non -Project Costs
Non -project costs are public works projects which only partly benefit the
District. Costs incurred that do not benefit the District may not be paid with tax
increments. Examples of non -project costs are:
• A public
improvement made within the District
that
also benefits
property
outside the District. That portion of the
total
Project Costs
allocable
to properties outside of the District would
be
a non -project
cost.
• A public
improvement made outside the District
that
only partially
benefits
property within the District. That portion
of the
total Project
Costs allocable to properties outside of the District would be a non -
project cost.
• Projects undertaken within the District as part of the implementation of
this Project Plan, the costs of which are paid fully or in part by impact
fees, grants, special assessments, or revenues other than tax increments.
No improvements to be made within the District will benefit property outside
the District. Furthermore, there will be no improvements made outside the
District that will only partially benefit the District.
Tax Incremental District No. 19 Project Plan Amendment City of Oshkosh
Prepared By Ehlers Page 1 13
SECTION 15:
Legal Opinion Advising Whether the Plan is
Complete and Complies with Wis. Stat. §
66.1105(4)(f)
Oshkosh
City Attorneys Office
Phone- (920) 236-SM
Fax: (920)236-5106
http:!lwww.d. oshkash.wi.us
April 14, 2024
H. Allen Davis
Director of Community Development
City of Oshkosh
215 Church Avenue
Oshkosh, WI54903-1130
Dear Mr. Davis:
I reviewed the Project Plan Amendment prepared for the City of Oshkosh by Ehlers,
Inc. for Tax Increment District :19 Northwest Industrial Park for form and to
determine whether it contains all required elements pursuant to Section 66.1105(4)(f)
of the Wisconsin Statutes.
I find that the Project Plan Amendment includes a statement iigting the kind,
number, and location of proposed public improvements within and outside the
District. It includes an economic feasibility study, a detailed fist of estimated project
costs, and a description of the method of financing all estimated project costs, and
the time when the costs are to be incurred. The Amendment contains maps of
existing uses and conditions of real property, as well as, proposed improvements
and uses. The Plan Amendment identifies that there are no anticipated non -prof ect
costs. The Plan Amendment also identifies that there are currently no proposed
changes in zoning of the real property in the district and no proposed changes in the
City's master plan, map or other municipal codes required or proposed as part of
the district. The Amendment includes a statement indicating that there is no
anticipated relocation of any persons to be displaced, but that if relocation would
become xequired it will be conducted in accordance with Ch. 32 Wis. Stats. and
ADMIN 92, The Plan Amendment includes a descrivtion of how the district and
this Plan Amendment will promote the orderly development within the City, which
is consistent with the City's Comprehensive Plan (Master Plan), building codes, and
other city ordinances in relation to project elements.
Upon adoption of the Project Plan Amendment by the Plan Commission and the
submission to the City Council, all requirements of Section 66.11D5(4)(f), Wisconsin
Statutes, will be complete and it is, therefore, my opinion that the project plan
attached hereto is complete and complies with Wis. Stat. § 66.1105.
Sincerely,
CITY OF OSHKOSH
Lynn A. Lorenso
City Attorney
Tax Incremental District No. 19 Project Plan Amendment City of Oshkosh
Prepared By Ehlers Page 1 14
SECTION 16:
Calculation of the Share of Projected Tax
Increments Estimated to be Paid by the Owners of
Property in the Overlying Taxing Jurisdictions
The following projection is provided to meet the requirements of Wis. Stat. §
66.11OS(4)(i)4 and reflects the projected tax increments to be collected within
the District assuming no change to its current incremental valuation or tax
rates, and further assuming the District were to remain open through its
allowable maximum life. Allocations amongst the taxing jurisdictions listed
reflects levy contributions based on DOR Form PC-202 (Tax Increment
Allocation Worksheet) for the 2018/19 levy year.
City of
Oshkosh
39.98%
Winnebago
County
20.22%
Oshkosh Area
School Dist.
35.60%
Fox Valley
Tech. College
4.21 %
Total
100.00%
2019/2020
$3,342,191
$1,690,197
$2,976,453
$351,759
$8,360,600
2020/2021
$3,342,191
$1,690,197
$2,976,453
$351,759
$8,360,600
2021/2022
$3,342,191
$1,690,197
$2,976,453
$351,759
$8,360,600
2022/2023
$3,342,191
$1,690,197
$2,976,453
$351,759
$8,360,600
2023/2024
$3,342,191
$1,690,197
$2,976,453
$351,759
$8,360,600
2024/2025
$3,342,191
$1,690,197
$2,976,453
$351,759
$8,360,600
2025/2026
$3,342,191
$1,690,197
$2,976,453
$351,759
$8,360,600
2026/2027
$3,342,191
$1,690,197
$2,976,453
$351,759
$8,360,600
2027/2028
$3,342,191
$1,690,197
$2,976,453
$351,759
$8,360,600
Total
$30,079,717
$15,211,772
$26,788,079
$3,165,832
$75,245,400
Tax Incremental District No. 19 Project Plan Amendment City of Oshkosh
Prepared By Ehlers Page 115